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How Much Does A Heat Pump Cost?

get answers to your questions about the cost of installing a heat pump.

If you're currently considering installing a heat pump in your home it's likely you have a few questions about how they work, what they cost and what funding is available. Here at Thermal Earth we understand these are some of the most important questions and so we've set out to answer them as openly and honestly as we can, so that you can make an informed decision about installing a heat pump.

 

What is a heat pump & how do they work?

Heat from the sun is constantly warming our planet. A heat pump is an electrically driven heating system that absorbs this solar heat either from the air, earth or water.

Heat pumps absorb heat energy at one temperature and releases it at another temperature. Some heat pumps  are designed to  only create heat (low temperature energy is taken into the heat pump and upgraded to a higher temperature), whereas others can also provide cooling and take in high temperature heat energy and cool it - working in much the same was as a refridgerator. 

Heat pumps use a small amount of electricity to compress heat into a suitably high temperature – ready to be used for space heating and hot water to almost any building.

Learn More About Heat Pumps

 

How much do heat pumps cost to install?

This table shows you the average prices of installing one of the MasterTherm heat pumps. We've given examples of air source heat pump costs and ground souce heat pump costs for homes of differing sizes.

Table of Geothermal Heat Pump Costs

There are many different factors which could affect the pricing of your installation, these include:

  • The system your home is currently using
  • Whether your home is on or off grid
  • How many boreholes are required and where they need to be drilled
  • Size of your land e.g. if you have enough land to lay horizontal ground kits, these are more cost efficient than digging a borehole 

 

How Much Maintenance is Required for a Heat Pump?

Once installed, heat pumps require very little actual maintenance. Heat pumps are designed to be work in the background with minimal fuss, providing your property with heating and hot water whenever you need it.

If properly monitored online the only on-going maintenance that’s required from property owners to their heat pump is booking an annual service to ensure all the components are working as they should be and your heat pump system is working to maximum efficiency.

Heat Pump Service and Call Out Costs

 

How Long Do Heat Pumps Last?

With annual servicing your heat pump can last approximately 15 years for an air source heat pump and 20 to 25 years for a ground source heat pump. Ground loop kits (which are used to collect the heat energy) can last over 100 years.

 

What Funding Options Are There For Installing a Heat Pump?

These are some of the most popular funding options, however if you'd like further advice please get in touch we can provide more information.

 

(Renewable Heat Incentive) RHI

The renewable heat incentive aims to help drive forward the adoption of sustainable energy systems in the home to help reduce carbon emissions and meet renewable energy targets. The scheme began in April 2014 and was originally set to end in March 2021, however due to COVID-19 the incentive has been extended until March 2022. When you sign up to the scheme you will receive quarterly payouts for the amount of green energy your household produces, for up to 7 years after the heat pump is installed.  

Limits have been set on how much you can earn from the scheme which are:

  • Air Source Heat Pump installation limit is 20,000 kWh: You could earn up to £1,348 a year for 7 years = £9,441
  • Ground Source Heat Pump installation limit is 30,000 kWh: You could earn up to £4,573 a year for 7 years = £32,011

With the RHI scheme, at the end of the seven years you could have completely covered the cost of installation of your heat pump.

Find out more about the RHI scheme

 

Green Homes Grant

The Green Homes Grant Scheme is a £2 billion Government project for energy saving home improvements in England. Households can claim up to £5,000 toward the cost of installing a heat pump. If you or someone in your household receive certain benefits you may be able to claim 100% funding up to the value of £10,000. If you require money up-front to help with the cost of the installation this could be a good option for you. Currently the Green Homes Grant is set to expire in March 2021, so you'll need to ensure you have applied for your voucher and completed your installation by then.

Find Out More About The Green Homes Grant

 

You may be wondering if you can use the Green Homes Grant and RHI together and the answer is yes, but the amount received from the Green Homes Grant will be deducted from your RHI payments. 

 

Assignment of Rights

Here at Thermal Earth we offer a service called the Assignment of Rights (AoR). Essentially what this means is we will fund the cost of installation for your heat pump, but you would assign your right to claim the Renewable Heat Incentive (RHI) to us.

Find Out More About AoR

 

 

We hope you found this article helpful for learning more about the costs of heat pumps. If you have any further questions we are always happy to help. With over 14 years experience in the industry and over 2500 systems installed around the UK, we can offer in-depth advice and knowledge to help you with your switch to a renewable heating system. Call us today on 01269 833 100 or send us a message on live chat.


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