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Do heat pump costs stack up?

A record number of heat pumps were installed in 2024. Government grants helped people to switch from gas boilers; however, around half of all homes in the UK must have a heat pump by 2040 to meet its goals.

What are heat pumps?

Heat pumps use electricity instead of gas. They work by taking heat from the air, ground, or water, making it stronger to warm your home. Air source heat pumps Cheltenham from specialists such as https://gsmlimited.com/services/air-source-heat-pumps/cheltenham are better than gas boilers, as they use less energy and can run on electricity from wind and solar power.

The most common type of heat pump is the air source heat pump. It has an outdoor box, which is about the size of a small fridge, and some equipment that goes inside your home. Ground-source heat pumps work better but cost more and need more space to be installed.

How much do they cost?

A heat pump usually costs about £10,000 to install, which is more than a gas boiler. To help with this, the government offers a £7,500 grant in England and Wales. With this grant, some companies have heat pumps for sale for £500; however, many people still find them too expensive. The grant can be used in existing homes but not for social housing or new builds. Scotland and Northern Ireland have their own heat pump schemes.

Are more people getting heat pumps?

Nearly 100,000 heat pumps were sold in 2024, up from 60,000 in 2023; however, the UK still installs fewer heat pumps than France, Germany, and Italy.

Can heat pumps save you money?

Heat pumps cost more upfront, but they should save you money. They use much less energy than gas boilers, but electricity often costs more than gas. Special energy deals for heat pump owners can help reduce the costs.

If the government made electricity cheaper for everyone, this would make heat pumps a better deal. If extra charges were removed from electricity bills, this would be another step in the right direction.

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