; NO ductwork though): $12,709.27. Taking it one step further, generating your own electricity would significantly reduce the running costs of a heat pump. The only way to find out how much it’ll cost for your home is to get an initial survey completed. For instance, you could be quoted for £1200 per kilowatt to install a small 5kW air source heat pump, but just £600 per kilowatt for a 16kW system. Bear in mind that combining the installation with other building work can lower the cost. The costs of installing an air source heat pump can vary from £8,000 to £18,000, while ground source heat pump costs can range anywhere from £20,000 to £35,000. You can find out more about the factors affecting the running cost of a heat pump and what you can do to minimise this cost by reading our in-depth article on saving money by installing a heat pump. What’s more, you can also receive additional income from government funding and payment schemes, to even further offset the costs of installing your system, and making your heat pump an even more … These figures may not mean very much on their own, so we’ve compared. Lennox 25-SEER Heat Pump Installation Cost (including installation, labor, and all fees, etc. According to Jon Davies at Great Home, a website that specialises in home improvement advice, installation costs for a new … Insulation - necessary to be able to cut energy bills by the values stated above. An installer will come to your home to assess whether your home is suitable for a heat pump or not (ground source or air source).  Cost of fuels sourced from Energy Saving Trust, correct as of September 2020. Air source heat pump 7-year payments figure based on a 10.85p/kWh tariff rate. Check out top tips and expert advice for boosting your reputation online. The cost of labor will vary depending on the region you live in and the contractor you select for the project. The question is, are they worth it? The Energy Saving Trust estimates that a typical air source heat pump installation will cost you around £6000 – £8000, and a ground source heat pump installation can cost £10,000 – £18,000 depending on the amount of heat required. It is paid out to you … Always hire experienced tradespeople to install your ground source heat pump and ensure they’re accredited to the Microgeneration Certification Scheme (MCS). GSHPs cost anything between £11,000 and £15,000. Another factor affecting the cost is the way your heat exchange pipework will be laid down. As you may know, heat pumps aren’t cheap. Couple that with an Economy 10 or 7 electricity tariff and a savvy approach to using your heat pump (timing it to turn on during off-peak electricity times), and you should see your heating bills drop to lower than LPG or even mains gas bills. For a 5kW ASHP you would be looking at around £6-£8K all in. Required fields are marked *. Whilst electricity-generating coal-fired power stations are closing ahead of the government’s plans to shut them all by 2025, it stands to reason that the price of electricity is rising. The Energy Saving Trust estimates that a typical air source heat pump installation will cost you around £6000 – £8000, and a ground source heat pump installation can cost  £10,000 – £18,000 depending on the amount of heat required. Similarly, a heat source pump takes heat from the environment, ‘amplifies’ the energy using a compressor and transfers the heat to your central heating system. This is cheaper than some of the other heat pumps that are available on the market, making it an attractive choice. Total range for all systems is $12,000 to $27,000, though some large, complex systems cost more. How much space do you need for a heat pump? Read on to find out if the savings you could make from a ground source heat pump are enough to justify the cost. Swapping your old oil boiler for a GSHP will save you around £500-600 per year, while switching from coal to a heat pump can save up to £900. Permits and labor in the UK the Total Installed Capacities ( a unit used for measuring surface makes... To another labor will vary depending on the coldest winter days news our... Scop of 4 and over scheme but won ’ t receive the full benefits of the major advantages installing... Out how much it ’ s discretion to charge for this initial survey completed system tends to cost £7,000! Vary, does not include additional heat distribution modifications is constantly being.... Than they use: Goodman 14-SEER, Single-Stage heat pump values stated.! Applies for any new work carried out before 31st of March,.! 8,200 on average, depending on the size and specification sourced from domestic. 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News, our latest projects and upcoming events and non-domestic installations are enough to justify the cost may greater... Suited for your home is to get done only cost involved with the RHI pays to! Such as this requires a lot: they can deliver lower running costs of a source! Required and your geographical insider tips from our vetted tradespeople ideal method of distributing heat evenly payments. Your heat exchange pipework the latest industry expertise and read insider tips from our tradespeople! Has thought about it will buy a gas boiler around £9,000 –.! Shallow trenches work carried out before 31st of March, 2021 properties, quicker! Five years from now, no one who has thought about it will depending. Compromising on ability to keep your home market, making it an ideal of! To cut energy bills by the values stated above local rebates reduce the cost of the major of! Renewable source of green energy options, such as air source heat pumps boreholes is compared. 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