Rated People has revealed that demand for heat pumps has risen by 28% in 2021, following on from research within this year’s Home Improvement Trends Report, which found that 57% of homeowners want to be more eco-friendly.
Rated People’s Trends Report found that only 3% of UK homes currently have heat pumps, but this number looks set to rise as demand increases. However, the upfront installation costs for heat pumps are generally much larger than conventional gas fired boilers.
The Energy Saving Trust estimates that the cost for installing an air source heat pump can be in the region of £9,000 – £11,000. Additionally, installation of ground source heat pumps can be even more expensive. However, when the reduction in energy bills and, for the moment, government grants are considered, heat pumps can offer huge savings over their lifetime, Rated People said.
As well as saving on monthly bills, the government’s Domestic Renewable Heat Incentive offers homeowners money to balance the upfront cost of renewable heating. An air source pump, the most common style of heat pump, can net homeowners a further £970 annually for the first 7 years. Coupled with a leaner energy bill, this means homeowners can pocket up to £2,270 annually by installing an air source heat pump, it was reported.
Adrienne Minster, chief executive officer of Rated People, said: “Growing awareness about climate change has meant that homeowners are keen to go green where possible.
“For several years, those wanting to make sustainable home renovations have been limited in choice, with solar panels and insulation often being the go-to options. However, the fuel we use to heat our homes can make a big difference to a property’s carbon footprint. This is where heat pumps can play a huge role.
“Like many sustainable home improvements, the upfront costs can be large as the technology is still developing. However, the lifetime savings of switching to heat pumps for those able to bear the cost can be significant.”