Are heat pumps the answer to rising costs and the climate crisis?
Heat pumps can be an efficient way for you to heat your homes. With the cost-of-living crisis making people across the country more concerned about their energy bills, heat pumps have become increasingly popular. It’s important to consult a certified installer before making a decision, as different types of heat pumps can vary in performance depending on the home. There are certain factors that can determine whether or not a heat pump is the right choice.
The most common heat pump in the UK is the air-to-water heat pump – that transfers heat from the air outside the home to water that is used to heat the home commonly via radiators and underfloor heating. These can cost between £7,000 and £13,000 – so they can be quite pricey. However, the Boiler Upgrade Scheme currently being run by the government enables homeowners in England and Wales to receive a £5,000 grant to replace traditional boilers with low-carbon heating alternatives – a scheme that can really help to fund the installation of a heat pump.
It is important that homeowners (and especially landlords) are aware of the grants and schemes available to them so that they can make the most informed decisions possible when it comes to improving the energy efficiency of their properties. Although they can be on the expensive side, the difference in efficiency between boilers and heat pumps can be dramatic. Traditional boilers will run at 90% efficiency on average – meaning 10% of the heat generated is lost. Heat pumps, however, operate at an average efficiency rate of 350%.
With the cost-of-living crisis causing people up and down the country to panic about the rising cost of their energy bills, many may start to look at the possibility of installing greener, more efficient methods of heating and lighting their homes in order to cut down on costs. Although heat pumps may not reduce bills by a hugely significant amount, they are a great way of making your home more energy efficient and can increase your EPC rating – helping to boost the value of your property. If you’re wondering about your property’s EPC rating and perhaps want to know what aspects of your home can be made more energy efficient, you can follow this link (Energy performance certificate (EPC) – Find an energy certificate – GOV.UK (find-energy-certificate. service.gov.uk)) to the government website.
Not only does this site display your property’s EPC rating, but also offers a break down of your home’s systems and rates various parts of the property’s energy efficiency on a scale from ‘very poor’ to ‘very good’. It’s always a good thing to be aware of, but if you’re looking to improve the efficiency of your home – this can be a great way of knowing where to start.
If you’d like to discuss the options available to you, contact your adviser today.