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Air Source Heat Pump Running Costs

Air Source Heat Pump Running Costs

As more and more people look to switch from old boilers to Air Source Heat Pumps it’s important to evaluate the running costs and see which one is more viable in the long run

 

Compare

Heat
Pumps
Oil
Boiler
Electric Panel
Boiler
New Gas
Boiler
Old Gas
Boiler
Condensing
Boiler
VS

12,490

Usage per year, KW

44,082

332

Expected seasonal efficiency

85

11

Cost per KW, pence

5.8

1373.90

Total cost, £

2556.75

20

Working life, years

12

7369

Co2 Emissions, Kg

13841


With an Air Source Heat Pump, you could also be entitled to a Government grant which gives you money for having an alternative heating system. This grant covers the cost of your Air Source Heat Pump which is fantastic.


 

Oil Boiler Running Costs

In comparison to an Air Source Heat Pump, Oil Boilers are significantly more expensive to run.


Usage per year, kW = 44,082

Comparing this to an Air Source Heat Pump you can see that an Oil Boiler uses almost 4x the energy. Not only does this mean you’d be spending more money but it’s also more of a strain on resources.



Expected Seasonal Efficiency = 85

The seasonal efficiency is expected to be 85 which means that an Air Source Heat Pump is 4x more efficient.



Cost per kW, pence = 5.8

One stat that the Oil Boiler easily beats the Air Source Heat Pump in is the cost per kW. The cost per kW is nearly half that of an Air Source Heat Pump; however, an Oil Boiler uses 4x more energy so you aren’t really saving that much money.



Total cost per year = £2556.75

An Oil Boiler will cost you £1200 more per year in comparison to an Air Source Heat Pump which is an extortionate amount of money to pay on your heating bill.



Working life, years = 12

So not only does an Oil Boiler cost more per year to run it also has a shorter working life. As it only works for 12 years you will have to retire it and purchase a new one for the extra 8 years that an Air Source Heat Pump could run for. This results in you spending even more money as you’ll have to purchase a new boiler.



Co2 emissions, kg = 13841

The Co2 emissions of an Oil Boiler are 1.8x that of an ASHP which is increasingly bad for the environment.



Total Cost working life = £30,681

The total cost of an Oil Boiler over its working life is £3000 more than an ASHP which lasts a whole 8 years longer! If we were to calculate how much an Oil Boiler would use over a 20 year period you’d be looking at £51,135 which is an absurd amount of money to pay. It’s almost criminal how much you have to pay.



 

Electric Panel Boiler Running Costs

Surely you’d imagine that an electric boiler would be more cost efficient, right? Well, it doesn’t seem that simple when you think about it. Electric is produced in power plants which use fossil fuels to create electricity. Fossil fuels are a finite resource and release a lot of Co2 which in turn is bad for the environment.


Usage per year, kW = 39442

With an electric panel boiler, you’re still using 3x the amount of energy that an ASHP would need to run.



Expected Seasonal Efficiency = 95

The expected seasonal efficiency is a third of what an ASHP so once again the Electric Panel Boiler is falling behind. So far it seems that the Air Source Heat Pump is the heating system to beat.



Cost per kW, pence = 11

One of the only aspects that an EPB and ASHP are equal on is the cost per kW. This doesn’t account for a lot as an EPB uses 3x the amount of energy which means 3x the cost.



Total cost per year = £4338.62

This amount is utterly ridiculous to pay for an entire year. This cost could pay for a first time driver’s insurance and car. Compare this to an ASHP and you’re paying nearly £3000 more for an Electric Panel Boiler.



Working life, years = 20

Another similarity between the two systems is that they last for 20 years, finally, you’re paying for something that’ll last long. If you weren’t aware of any other systems the expense might seem like it was worth for the working life.



Co2 emissions, kg = 23270

The Co2 emissions are almost criminal. The average car produces 5000kg of Co2 per year so you can see how bad that is in comparison.



Total Cost working life = £86,772

Now this one is a big killer. You’re spending £60,000 more on an Electric Panel Boiler for nothing better. It’s scandalous. I don’t know how anybody could trick somebody into thinking that an Electric Panel Boiler is a good idea or an alternative to other forms of heating systems.



 

New Gas Boiler Running Costs

This one is the old faithful when it comes to heating systems. Many of us have a gas boiler and it’s normally because it’s the most affordable in initial cost and we usually get the best deals on them.


Usage per year, kW = 44,082

Similar to an Oil Boiler, a New Gas Boiler uses 44,082 kW. This is still quite bad in comparison to an ASHP and an EPB.



Expected Seasonal Efficiency = 85

The usage per year isn’t the only thing that a Gas Boiler and Oil Boiler have in common. The expected seasonal efficiency is 85 which is a third of the expected seasonal efficiency of an Air Source Heat Pump.



Cost per kW, pence = 4

The Gas Boiler is the cheapest in terms of cost per kW. At 4 pence it is 2.75x cheaper than an ASHP and EPB.



Total cost per year = £1763

A New Gas Boiler is the second cheapest heating system behind an ASHP. For this reason, it explains why a new gas boiler is the most popular home heating system.



Working life, years = 12

The biggest downfall to a New Gas Boiler is its working life. Due to a New Gas Boiler only having a 12-year working life it means you’ll have to replace it which will be an additional cost.



Co2 emissions, kg = 10006

The New Gas Boiler is also the second-best heating system in regards to its Co2 emissions. At only 10006 kg the only heating system that beats this is the Air Source Heat Pump at 7369 kg.



Total Cost working life = £21,156

The total cost of a New Gas Boiler over its working life (12 years) is £21,156 which really isn’t that bad. In fact, comparing it to the cost of an ASHP over it’s working life it’s actually cheaper. However, if you’re to look at it over a 20 year period then it’s more expensive. Excluding the cost of replacing a boiler, your New Gas Boiler will cost you £35,260.

 


Verdict

Personally, I don’t see what’s not to like about an Air Source Heat Pump. It’s the cheapest heating solution over a long period of time and you get paid for having one. However, if you still don’t trust an Air Source Heat Pump for whatever reason a New Gas Boiler is your best alternative.



We hope you enjoyed this in-depth comparison between 4 of the most commonly used heating systems. For more information visit our Air Source Heat Pump page.


 

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