Last Updated on November 7, 2022 by Angela
With gas boilers reaching record amounts and set to be banned in new-build houses, it’s likely that air source heat pumps will become more common. They are well known for saving money, cutting carbon emissions and heating and cooling homes – all whilst being even quieter than a traditional boiler. It’s definitely worth taking a look at air source heat pumps and how they can help you to save money on your energy bills. Keep reading to find out more.
Changing energy costs
Much research shows that air source heat pumps are up to 300% more effective than gas boilers, but they’re powered by electricity which costs somewhere around 34p per kWh here in the UK. However, the price of gas has risen by over 400% in the past year, resulting in millions of people paying thousands more each year.
Whilst the price of gas increases, the price of electricity is decreasing. This is the biggest incentive to switch to an air source heat pump; a decision that the majority of UK residents have already undertaken. While it’s not a necessity, you could save yourself even more money by purchasing solar panels to supply you with even more energy.
Government grants
This year the Renewable Heat Incentive closed and was replaced by the Boiler Upgrade Scheme. This new scheme will subsidise your air source heat pump installation by £5,000. The total cost of an air source heat pump is usually somewhere around £10,000 to buy and install, so if you’re thinking about air source heat pumps, start looking for air source heat pump installers in your area.
It costs approximately £40,000 every 20 years to heat your home with a traditional gas boiler. However, the average air source heat pump will save you £7,000 over the years. So, a heat pump will work out cheaper overall and won’t need replacing as often as a gas boiler.
The gas boiler ban
The aforementioned Boiler Upgrade Scheme was created in line with the gas boiler ban. It was announced that the ban would begin in 2023, but there was much confusion and several later consultations. It appears that the ban will start in 2035, with an overall goal of stopping all gas heating within five years. It makes sense to take full advantage of government schemes before the ban is implemented, so don’t miss out!
Growing demand and increasing efficiency
As a direct result of the Boiler Upgrade Scheme, the government pointed out the increasing popularity of heat pumps. It’s extremely likely that as demand rises, the supply will also, something that will reduce the availability of heat pumps over the coming years.
As well as this, heat pumps are becoming more efficient – as you’d hope. Newer models are hitting 500% efficiency rates, providing even more savings on energy bills. All in all, switching to air source heat pumps is an extremely effective and underrated way of saving money on your energy bills.
