Wednesday 7 August 2013

Heat pumps could save homes as much as £3,000 a year

UK householders could earn between £1,350 and £3,000 a year in savings and income by installing heat pumps in their homes.

A new study by the Energy Saving Trust found the efficiency of heat pumps has improved and that well installed and operated heat pumps perform to a “very high standard” in homes.

It claims air source heat pumps could generate annual savings and income worth around £1,350 and ground source heat pumps could earn homeowners as much as £3,000 a year.

Heat pumps draw heat from the ground or outside air, with lower emissions compared to gas boilers.

The news follows the Government’ announcement that householders could get paid hundreds of pounds as part of the renewable heat incentive (RHI). Under the scheme, tariff levels were set at 7.3p/kWh for air source heat pumps and 18.8p/kWh for ground source heat pumps. Extra subsidies are also available to enable householders to take up packages to monitor the efficiency of their heat pumps.

Energy and Climate Change Minister Greg Barker said: “This study is a positive step forward. It shows that high standard renewable heating technologies can save households significant money on their energy bills and help to produce clean energy at the same time.

“I want to see more people reap the rewards that heating technologies have to offer. Energy Saving Trust’s encouraging findings will certainly help to bolster consumer confidence in investing in this innovative technology.”

The report also found 80% of homeowners were satisfied with their heat pumps’ performance and more than three quarters (77%) said they would recommend it to a friend, mainly because of its efficiency and running costs of the system.