Are you looking for a new air conditioner to deal with the heat wave sweeping across Europe? Or are you looking for a heating system for the coming winter? Earlier, people used to find two different solutions for these two problems. However, nowadays, air-source heat pumps offer an effective, cheaper, and greener solution to deal with heat and cold in your home.
Although the equipment is called a heat pump, it is designed to provide heating and cooling solutions for your home and keep it comfortable throughout the year. In this blog, we will discuss the average air source heat pump cost when buying, installing, and operating it in your home.
What is the cost of an air-source heat pump?
The initial air source heat pump cost is quite significant; it could be around £10,000. However, you must realise that it is a long-term investment that will pay you back in improved comfort. An average air source heat pump can easily bring down the cost of emissions by nearly 44% (source-www.gov.uk). Additionally, compared to the owners of gas boilers, you will save £335 annually. This is a win-win situation for you and the environment!
The installation cost of an air source heat pump
The air source heat pump cost includes installation charges, which can vary between £60 – £130 per hour. The total payment will depend upon how much time the contractor needs to install the air source heat pump and the service rates in that area. An average heat pump installation (for a brand-new system) can take up to 15-20 hours with all the ductwork. However, replacing the old heating system will save a lot of money because you will not have to replace all your home’s ductwork.
If you want to install a ductless air conditioner, the contractor has to cut a hole in the outer wall of your home to run electrical cables for the condenser and others. You may have to pay £1100 to £1700 for the installation process.
The running cost of the air source heat pump
It is hard to find the average running air source heat pump cost for individual households. However, indirectly, it is found to be around £1360 for every household. Experts arrived at this figure by first finding that an average home uses 12,000 kWh of energy annually for heating purposes. Your heat pump will require 4,000 kWh of electricity to produce heat annually. The average electricity price is 34p per KWh, so the running cost of an air-source heat pump is around £1360.
This cost looks more than what you have to pay for a gas boiler, but in the long run, it would be cheaper as the gas price is expected to increase much faster than that of electricity. Furthermore, if you are using a gas boiler heating system, then you have to replace the boiler every ten years. These figures make gas boiler costs prohibitive in the long run.
Conclusion
It is believed that by 2030, a higher percentage of homes in Europe, America, and North Asia will have air-source heat pumps in their homes and commercial establishments, significantly reducing their carbon footprint.
