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Heat pumps - Economics |
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Economics Heat pumps are cost effective for existing buildings if
As the outlet temperature is lower than that with fossil fuelled boilers, it is cost effective to increase the insulation level at the same time as installing heat pump system. The benefits are that the heat pump is then sized for the reduced heat loss and the existing radiator system can be used. For new dwellings which are characterised by a high level of insulation and a low heat loss, heat pumps should always be considered particularly if the distribution system is that of under floor heating. Costs Heat pump costs vary from £ /kW to £ /kW depending on type and size. A typical UK home, size 80 m2, would require a heat pump of 3 to 6 kW depending upon the insulation level. The auxiliary heating system would have a similar size or be slightly smaller, these could be storage or convector radiators and would be located in the bedrooms or bathroom. A typical cost would be ... The other major cost would be that of the collector which, if drilled, would cost typically £ /kW. For air source heat pumps, an outlet fan would be installed on an outside wall. Grants, tariffs and tax credits Maximum £1,200 regardless of size subject to an overall 30% limit (exclusive of VAT). To be eligible to receive a low carbon buildings grant you must undertake a number of energy efficiency measures before you are eligible to apply for a low carbon buildings grant and you must use an accredited installer and an accredited product. Details are given at the low carbon programme website see: No UK utility currently offers a special tariff for heat pumps - however this situation could change in the near future as utilities realise the benefit of being able to run heat pumps as base load. No tax credit is currently available but VAT is only charged at 5% including installation for certain buildings including dwellings.
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