Are Air Source Heat Pumps a Good Investment?
The value of an air source heat pump can vary significantly. It all depends on the specific circumstances surrounding the installation, such as the age and condition of the property and the heating system the ASHP will replace.
Here’s a closer look at the key reasons why an air source heat pump might be a good investment.
It Could Bring You Long Term Cost Savings
Older, traditional heating systems are often inefficient and poorly controlled. An ASHP that is professionally designed and properly installed could bring significant savings in the long run thanks to its greater energy efficiency.
ASHPs do require electricity to run, but use less energy than the heat they produce. The efficiency of a heat pump is measured by its Seasonal Coefficient of Performance (SCOP) - the ratio of heat produced per unit of electricity consumed. For example, a SCOP value of 3 means you get 3kWh of heat output for every 1kWh of electricity used.
On average, an ASHP is 300% more efficient than a gas boiler.
Then there’s the cost of energy to consider. The price of wholesale gas has risen by over 400% in the last 12 months, and according to the independent Climate Change Committee the average price of gas will be 50% higher in 2030.
At the same time, the National Infrastructure Commission predicts the cost of electricity could drop by 58%. Of course we can’t be certain of what the future holds, but if the price of gas does continue to rise exponentially and electricity falls, ASHPs will indeed bring significant savings over gas boilers.
It Will Lower Your Carbon Emissions