Why Heat Pumps are cheaper than Gas Boilers
Air Conditioning (Referred to as a Heat Pump) can heat and cool. If you put your hand behind the back of your fridge for example you will notice that it is hot. This is the heat which is being taken away from inside the fridge. You may notice that the fridge is very cold inside yet the heat of the back is very warm. The fridge is a heat pump. It is pumping heat from inside the fridge (cold) to outside (warm).
A heat pump can be used instead of a boiler. Heat is taken from outside and pumped inside (i.e. acting like a fridge). The magic happens in the background due to the refrigerant changing phase. Just take my word for it if you don’t want to learn the science.
The good news is that a Heat Pump can supply 5KW/h for every KW of electricity. A gas boiler supplies around 0.95kW for every kW. So yes for you smart people you can see that the efficiency is 500% versus 95%. Again trust me on the science.
So if we imagine that it takes 20,000kW/h to heat your house over a winter period. (According to the Commission for Energy Regulation the average household would use 13,800 kW/h annually) Going by SEI prices below it would cost
- Gas: 20,000*0.067 = €1240 – per annum
- Heat Pump: 20,000*.2 = €4000/5 = €800
Therefore Heat Pumps can save you €400-500 per year. So if you are replacing your boiler @ €2000 then given that the average cost of installation of a heat pump is €5000.
Therefore ( 5000-2000)/ 5 = 6 Years, after this time period it will have paid for itself.