Heat Pump Running Costs
Heat Pump Air Conditioners have become popular because they are an extremely energy efficient way to heat your property.
Because heat pumps don’t create heat, they simply move it from one space to another, heating costs are greatly reduced when compared with other forms of heating (electric heaters, gas, wood-burners, etc.).
Heat Pumps are currently the most cost-effective form of heating using electricity, and most good quality systems achieve average COP (Coefficient of Performance) figures of four or more. This means that to achieve four kilowatts of heating or cooling power, they use an average of less than one kilowatt of electricity.
A conventional heating system such as an electric fire or gas boiler has a COP of less than one. This means that it burns more than one kilowatt of power to produce a kilowatt of heating power. The higher the COP the cheaper a heating appliance is to run. In comparison to other forms of heating, Heat Pumps offer the most energy efficient heating with between 300% to 400% efficiency.
In dollar terms this means a Heat Pump is one of the cheapest methods to heat a home. By comparison: for every $1 you spend you get the following equivalent heat output:
- Gas 0.82c
- Electric Bar Heater 0.98c
- Wood Burners 0.45c
- Heat Pump $3 – $4
Tests on newer heat pumps show that by choosing the correct size unit for your home, maintaining it correctly and running it efficiently, you can receive up to $3 heat for every $1 spent on heating.
NB: It is important that a heat pump is sized correctly for the volume of air it needs to heat and the climate in which it operates. If the unit is too small it will not reach its inverter cycle and therefore achieve its stated energy efficiency (COP).