Heat Pumps are a renewable, low running cost alternative to gas boilers or any other heating systems.
Heat Pumps use heat from the outside air (even in negative temperatures there is still a little bit of heat in the air) or ground (underground temperature stays fairly warm throughout the year) and electricity to produce hot water for the radiators and hot water cylinder.
When running heat pumps you will only need to pay for the electricity used by the heat pump, the energy captured from the outside air or ground is FREE!
Homely system will make sure the heat pump is operated during the cheapest times of the day. The picture to the left shows an example of electricity prices on the Octopus Agile tariff. We can see prices dropping to 4.2p/kWh on the night of the 6th of December.
Incentives to Buy
Renewable Heating incentive (RHI) helps people afford heat pumps. RHI provides yearly payments of up to £1,348/year for air source and £4,573/year for ground source heat pumps for a 7 year period. To calculate potential savings for your property check out this calculator.
Assignment of rights is another scheme where an investor (such as Evergreen Energy) pays for the heat pump installation for your home. In return, they receive RHI payments on your behalf. This way you could get a brand new renewable heating system installed completely FREE and benefit from lower energy bills.