HEAT pumps are an alternative way of heating your home – but it's important to know how much they cost to run.
Dropping temperatures and stubbornly high costs mean millions of households are trying to keep warm without bursting the bank.
To help, we've worked out how much you'll actually be paying to use a heat pump.
It comes as Prime Minister Rishi Sunak in September announced the government grant for replacing gas boilers with heat pumps will increase by 50% to £7,500.
What is a heat pump?
A heat pump is a type of renewable energy technology that enables you to heat your home in an environmentally friendly way.
They deliver heat at a lower temperature than gas and oil boilers so they have to be run for much longer periods at a time.
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There are also ground source heat pumps that take the heat from underground by pumping water through it in pipes.
Heat pumps take the available heat from the ground or air and increase it to a higher temperature using a compressor.
It then transfers the heat to the heating system in your home.
The pump uses electricity to run but it takes less energy than the heat it produces, making it an efficient way to warm your home.
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How much does it cost to run a heat pump?
For an average UK home, it’s currently about the same price to run a heat pump as a gas boiler, according to experts at Octopus Energy.
For customers on a standard variable tariff (SVT), the energy cost of a heat pump is £868 compared to £812 for a gas boiler.
If you completely give up gas by having a heat pump, and have your gas meter removed, you could save £100 a year on standing charges for gas.
Standing charges are basically the cost of having a gas supply.
The standard charge for gas is currently 29.11p per day, but will drop to 29.62 from October 1, 2023.
Heat pumps also have a longer lifespan than a gas boiler, and a lower risk of failure, according to the Energy Savings Trust.
It is estimated that the lifespan of a heat pump is around 20 years, compared with between ten and 15 years for a gas boiler.
This means you should pay far less for maintenance than gas boiler cover – which costs on average £288 a year, or £2880 over a decade.
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