Heat Pump Cost Calculations

Harvs94

Hello all,

I've recently been told I'm eligible for insulation and heating measures under one of the current goverment schemes. 

I've been told I'll be eligible for top loft insulation, cavity wall insulation, room in roof insulation, window ventilation, an air source heat pump and solar panels, which is all really great. 

However, we recently (3 years ago) had a new oil boiler and system installed and I've had reservations about switching to a heat pump. I've also been told it's an all or nothing offer, so I can't get the insulation without the heat pump installed. The measures should bring our EPC from a low F to a high B.

I've done some workings out of oil cost vs electricity cost of the heat pump and its coming in considerably more expensive per annum however this doesn't consider the enormous insulation improvements.

10,000kWh ÷ 0.9(boiler effiency) = 11,111 kwH energy demand.

11,111 ÷ 10.35 = 1073ltr (Oil Required)

1073 x 0.63 = £675 (Cost of oil per annum based on average my average oil price over 12 months) 

10,000 ÷ 3.65 = 2739

2739 x 0.33 = £903 (Cost of heat pump per annum based on my current tariff)

If anyone has any advice on the switch and heat pumps vs oil I'd love to hear. 

In my mind this seems like a no brainer offer I'm just concerned that my monthly bills may be considerably higher. 

Thanks

Gerry1

Welcome to the forum.

Who has told you that bucketfuls of free government money will rain down from the sky and all sorts of wonderful things will happen?

Someone trying to sell you something perhaps?

Caveat emptor !

matelodave

TBH using 3.65 as a COP is pretty optimistic for most people.

a COP of 3 is much nearer the mark in my opinion, and even then probably requires a degree of diligence on the owner to ensure that the system is optimally operated, especially in the winter.

have a shufti at some of the heatpump threads to get different perspectives from those who've got or are getting them to see how they fare.

I'm not against them, I've had one for some 13 years and I'm more than happy with it, but the cost of running it has escalated fourfold over the past 12-15 months due to the price of electricity.

FreeBear

A hybrid heat pump may be an acceptable middle ground. Retain the existing oil fired boiler along side a heat pump (e.g. https://www.vaillant.co.uk/homeowners/products/the-arotherm-plus-hybrid-heat-pump-system-1728.html ) and pick which one you want to use based on energy costs.

But... A heat pump will certainly require larger radiators (up to double the capacity) and possibly new, larger pipework.

matt_drummer

FreeBear said:

A hybrid heat pump may be an acceptable middle ground. Retain the existing oil fired boiler along side a heat pump (e.g. https://www.vaillant.co.uk/homeowners/products/the-arotherm-plus-hybrid-heat-pump-system-1728.html ) and pick which one you want to use based on energy costs.

But... A heat pump will certainly require larger radiators (up to double the capacity) and possibly new, larger pipework.

My heat pump from Octopus is receiving the BUS grant. The existing gas boiler has to go to get the grant.

Radiator upgrades are not always required, I only need to change two out of twelve.

I don't require any changes to any pipework other than the connection to the heat pump.

Swipe

People call me all the time telling me I'm entitled to free stuff and grants. These cold calling touts get commission for every house they send someone to survey. As soon and I hear the word eco or survey in their opening spiel I hang up immediately.

matt_drummer

Swipe said:

People call me all the time telling me I'm entitled to free stuff and grants. These cold calling touts get commission for every house they send someone to survey. As soon and I hear the word eco or survey in their opening spiel I hang up immediately.

Yes, I can't imagine you'll be getting all that at no cost!

comeandgo

Which country, which government scheme?  Be careful, you don’t get anything for nothing.

chris_n

I wish I could get £20-£30k worth of work to my house with government schemes!

QrizB

matt_drummer said:

Yes, I can't imagine you'll be getting all that at no cost!

If you're referring to the OP, it's quite possible to get all that at no cost.

It sounds as though he's been offered a Home Upgrade Grant:
https://www.gov.uk/government/news/households-save-200-on-bills-with-energy-efficiency-investment

matt_drummer

QrizB said:

matt_drummer said:

Yes, I can't imagine you'll be getting all that at no cost!

If you're referring to the OP, it's quite possible to get all that at no cost.

It sounds as though he's been offered a Home Upgrade Grant:
https://www.gov.uk/government/news/households-save-200-on-bills-with-energy-efficiency-investment

That article is dated February 2022 and the HUG was to be delivered by March 2023.

I didn't see anything there that said you get all that for no cost.

They may well be offered that at no cost.

If I was the OP and it was my house I would take it now.

But they probably will have higher energy bills for the time being, although probably not by much.