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Can Heat Pumps Lower My Energy Bills? Can Heat Pumps Lower My Energy Bills?

AA Home Insurance

Can Heat Pumps Lower My Energy Bills?

Published 9th February 2024Read Time 4 min

Heat pumps can be a highly efficient alternative to traditional heating systems like oil and gas boilers. There is a lot of potential to significantly lower your home energy bills. Understanding how heat pumps work and their benefits is key to figuring out if this is something you should get in your home. 

What is a Heat Pump?

In short, a heat pump is a device that transfers heat from one place to another. During winter, it takes heat from the outside air and transfers it to inside your home. This process is highly energy efficient compared to generating heat in a boiler, as moving heat requires considerably less energy than creating it. Think of your fridge, it take the heat from inside your fridge and sends it out, cooling down the contents. But heat pumps can also heat water for use inside your home.

Are Heat Pumps Efficient?

The efficiency of a heat pump is measured by its Coefficient of Performance (COP). A higher COP means the system can produce more heat inside your home than it uses to transfer that hear. Modern heat pumps can have COP values of three or higher. These means that you end up with three times as much heat inside your home as was used to get the heat there. This is in stark contrast to traditional heating systems, like furnaces and boilers, which often have lower efficiencies. Just think of the waste heat that goes out the funnel from your boiler as exhaust.

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Are Heat Pumps Good For the Environment?

Moreover, heat pumps are relatively environmentally friendly. They rely on electricity, as opposed to directly burning fossil fuels in your home. The electricity they use can be generated from renewable sources, which is a substantial portion of the energy mix in Ireland. As Ireland builds out more solar and wind farm projects, this electricity mix gets cleaner. 

Are Heat Pumps Worth the Cost?

The initial investment in a heat pump system can be higher than traditional systems. The technology is new, and installers are trying to get to grips with increased demand. However, the long-term savings in energy bills often offset this. To figure out if they’re worth it financially, you will have to understand how much energy you have been using to date. Then you can figure out how much electricity you will use from the heat pump you plan to install. This can be quite complex to calculate, so don’t be afraid of discussing this in detail with registered installers that you are getting quotes from.

You should also be aware that there are a number of grants available to those looking to install a heat pump. It is worth a read of SEAI’s guide on Heat Pumps grants. You could even save €200 off an assessment!

Will Heat Pumps Work in Ireland?

In regions with mild to moderate climates, the efficiency of heat pumps is particularly good. However, in areas with extreme cold, the efficiency of traditional air-source heat pumps can be less effective. However, the climate in Ireland is actually quite moderate, with winters seldom dropping below freezing temperatures. So we are quite suited to Heat Pumps in this regard.

Heat Pumps are definitely something to consider if you’re looking at lowering your energy bills. But as we have seen, a lot of research is needed.

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