Cost-And-Financing-Your-Heat-Pump
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Welcome We have been supplying and servicing heat pumps in Scotland for over 10 years. What separates us from other heat pump companies is that we are expert heating engineers. In your guide you will find details of homes we have fitted heat pumps in to, the cost of installation and the money they received from the Renewable Heat Incentive scheme. We understand you need information and costs to make an informed decision when investing in a heat pump. The guide also includes details of funding available to install your heat pump and the Renewable Heat Incentive Scheme payments, which will see you receive quarterly payments from the UK Government paid over 7 years. I hope you find your guide useful. If you have any questions or would like to book a site visit please call me on 0845 094 3285. Barry Sharp Owner www.renewableheat.com The number one question... The number one question we are asked when customers are considering installing an air or ground source heat pump is “how much will it cost me”? The answer? The cost of your heat pump depends on many factors: • The size of your house • The number of bedrooms • Age of property • Age of your heating system • Insulation level www.renewableheat.com Here are some we fitted earlier Here are some examples of homes and the costs involved. Air Source Heat Pump, Biggar, Scotland. Type of house Detached Age of house 15 years Number of bedrooms 3 Size 192m2 Heat pump choice Air source Nibe 8kW ASHP Install cost £10,800 Est funding £10.000 Running cost £1,041 per annum RHI income old rate £8,400 over total in 7 years RHI new income rate £11,332 More than the install cost Air Source Heat Pump, Glenfarg, Scotland. Type of house Detached Age of house New build Number of bedrooms 4 Size 205m2 Heat pump choice Air source Nibe 8kW ASHP Install cost £9,500 Est funding £10.000 Running cost £968 per annum RHI income old rate £8,400* over total in 7 years RHI new income rate £11,332 *Based on the old RHI funding rate www.renewableheat.com Ground Source Heat Pump, Madderty, Scotland. Type of house Detached Age of house 20 years Number of bedrooms 5 Size 285m2 Heat pump choice Ground source Nibe 12kw GSHP Install cost £18,650 Est funding - Running cost £1,250 per annum RHI income £21,444 Ground Source Heat Pump, Peterculter, Scotland. Type of house Terrace Age of house 15 years Number of bedrooms 5 Size 257m2 Heat pump choice Ground source Idm 15kW HGL Install cost £24,950 Est funding £10,000 Running cost £1,345 per annum RHI income £28,933 Get your quote now Book your home visit now on 0845 094 3285 or email me at [email protected] and I’ll give you a detailed quote. www.renewableheat.com Financing your ground source The great news is that the Scottish Government funded loan covers up to 100% heat of your installation costs. So up-front costs needn’t stop you from installing and enjoying the benefits of your ground source heat pump. pump Two finance opportunities… 1. Home Scotland Loan The Home Energy Scotland loan means you can install your heat pump with an interest free loan funded by the Scottish Government. You can apply for up to £10,000 which you can pay back over 10 years. If you are replacing your current home heating system with an ground source heat pump then you only pay 5% VAT not 20%! 2. Renewable Heat Incentive Scheme The UK Government has set up a scheme called the Renewable Heat Incentive scheme. When you put a heat pump in to your home you will receive quarterly payments. These are based on the amount of renewable energy it is estimated your pump has produced. We can advise you on what those payments are likely to be based on your home and heating requirements. We can also advise you on to set up and access those payments. At Renewable Heat, we can guide you through the process of financing and earning money from your ground source heat pump. www.renewableheat.com Another critical factor is your choice of heat pump Land availability Air Source Heat Pump Air source heat pumps absorb heat from the outside air. This heat can then be used to heat radiators, underfloor heating systems, or warm air convectors and hot water in your home. An air source heat pump extracts heat from the outside air in the same way that a fridge extracts heat from its inside. It can get heat from the air even when the temperature is as low as -15° C. A more cost effective option it is ideal for a certain type of home and location. To determine if it is the right option for you here are a few questions to consider. Do you have somewhere to put it? You’ll need a place outside your home where a unit can be fitted to a wall or placed on the ground. It will need plenty of space around it to get a good flow of air. A sunny wall is ideal. Is your home well insulated? Since air source heat pumps work best when producing heat at a lower temperature than traditional boilers, it’s essential that your home is well insulated and draught-proofed for the heating system to be most efficient. What fuel will you be replacing? The system will pay for itself much more quickly if it’s replacing an electricity, oil or LPG heating system. Heat pumps may not be the best option for homes using mains gas. www.renewableheat.com What type of heating system will you use? Air source heat pumps can perform better with underfloor heating systems or warm air heating than with radiator- based systems because of the lower water temperatures required. Is the system intended for a new development? Combining the installation with other building work can reduce the cost of installing the system. We would be more than happy to advise you on whether an air source pump is the right choice for your home as well as give you a detailed quote and price. Get your quote now Book your home visit now on 0845 094 3285 or email me at [email protected] and I’ll give you a detailed quote. www.renewableheat.com Ground Source Heat Pump Ground source heat pumps absorb heat from the ground in the same way that a fridge extracts heat from its inside. The heat from the ground is absorbed at a low temperature into a fluid then the fluid passes through a compressor. The heat is then used to heat your radiators, hot water and underfloor heating system. The horizontal ground collector needs a large garden, typically double the square meterage of the house. This means you need sufficient space for the system to be installed. If you do not have space there are alternative methods to install the system. To tell if an air source heat pump is right for you, there are a few key questions to consider: Is your garden suitable for a ground loop? It doesn’t have to be particularly big, but the ground needs to be suitable for digging a trench or a borehole and accessible to digging machinery. Is your home well insulated? Since ground source heat pumps work best when producing heat at a lower temperature than traditional boilers, it’s essential that your home is well insulated and draught-proofed for the heating system to be effective. What fuel will you be replacing? The system will pay for itself much more quickly if it’s replacing an electricity or coal heating system. Heat pumps may not be the best option for homes using mains gas. www.renewableheat.com What type of heating system will you use? Ground source heat pumps can perform better with underfloor heating systems or warm air heating. It also works really well with a radiator-based system though your radiators may need to be upgraded. Is the system intended for a new development? Combining the installation with other building work can reduce the cost of installing the system. We would be more than happy to advise you on whether a ground source pump is the right choice for your home as well as give you a detailed quote and price. Exclusive! Remote Maintenance Service – Not appointment necessary An exclusive service to Renewable Heat customers, we can monitor your heat pump remotely. Our online system means our engineers can track the running history of your heat pump, its efficiency and identify any potential issues. If a problem should occur we can quickly and easily repair it remotely where possible or on site when required. Keeping your pump healthy and happy for a warmer home We are proud to be hired by heat pump manufacturers to service and maintain their customers heat pumps. Get your quote now Book your home visit now on 0845 094 3285 or email me at [email protected] and I’ll give you a detailed quote. www.renewableheat.com Suite 1/7 Falkirk Business Hub 0845 094 3285 45 Vicar Street [email protected] Falkirk, FK1 1LL www.renewableheat.com.