The cost of a heat pump is a significant investment to make your home more energy efficient. It can vary greatly depending on what type of heat pump you need, and if any other work has to be done at the same time.
Below, we go into more detail about what you may expect to pay for a heat pump system, what goes into that price, and how much they cost to operate.
How Much Does a Heat Pump System Cost?
The median cost of a heat pump system in Ireland is between €14,000 and €16,000 according to the SEAI. This is the middle value, some half of people would pay less than that, and half would pay more.
You may expect the cost range to vary between €8,000 – €20,000 in the vast majority of cases. Most of the data available on the cost of heat pumps in Ireland relates to air-to-water heat pumps, as these are by far the most common variant.
The main factors affecting the cost of a heat pump are:
- 1
Heat Pump Type: Whether you are getting an air, water, or ground source heat pump.
- 2
System Size: The strength in kW of the heat pump, with larger models often considerably more expensive.
- 3
Heating System Upgrades: If you have to make any improvements to your central heating system at the same time.
- 4
SEAI Grants: Your eligibility for heat pump grants and the value of the grant you can receive.
The prices given by the SEAI include both the cost of the system and all installation works. This includes removing the existing boiler and replacing it with a heat pump.
Water Source Systems: A water source heat pump may be comparable in cost to the upper end of air source systems.
Ground Source Systems: A ground source heat pump may cost twice as much as an air source system due to the large amount of ground work required. This is especially true of vertical layout systems with deep boreholes.
Heat Pump Running Costs
The annual operating costs of a heat pump depend on the amount of electricity it uses and what you are paying for that electricity.
A heat pump will use anywhere between 1,500kWh to 4,000kWh of electricity each year. These figures depend on two factors:
- 1
Heat Demand: The amount of energy needed for space heating and hot water.
- 2
Heat Pump Efficiency: The ratio of electricity usage to heat production.
The average efficiency of a heat pump can range from 250% to 500%, meaning it produces up to five units of heat for every unit of electricity it uses. This efficiency level is called the Seasonal Coefficient of Performance (SCOP). In Ireland, most heat pumps will have an SCOP of between 3.0 and 4.0, or 300% – 400% efficiency.
Heat Pump Maintenance & Repair Costs
The best way to avoid costly repairs is to have your heat pump serviced every two to three years. This ensures your heat pump operates at its maximum efficiency, reducing operating costs and increasing your savings.
Getting your heat pump services will cost in the region of €250.
Repairs to a heat pump can involve replacing components which are under more frequent stress, such as the compressor. The pipes carrying the refrigerant may also become damaged, resulting in leaks.
It is always better to carry out these repairs quickly if your heat pump is still within the first half of its lifespan. Even if the component is not broken, damage will reduce the efficiency of the heat pump. This can quickly drive up operating costs and cost more money in the long run.
Heating System Upgrades for Heat Pumps
Installing a heat pump may require multiple upgrades to your central heating system. This can substantially increase the final cost of switching.
Heat pumps work best with a lower flow temperature than a boiler produces. This affects the way a central heating system needs to operate in several ways.
As a result, you may have to replace multiple parts of your central heating system when installing a heat pump.
- 1
Increased Diameter Pipework: The lower flow temperature requires water to flow at a higher rate to deliver enough heat. This can require pipework with a larger diameter than a boiler needs.
- 2
Larger Panel Radiators: In order to deliver enough heat to the room, a heat pump needs radiators with a large surface area. This may require replacing older radiators.
- 3
Large Coil Hot Water Cylinder: If you are using the heat pump for domestic hot water, you may need a new cylinder with wider coils for effective heating and reheating.
All of these potential upgrades will vary between homes and should not be assumed. A high-temperature heat pump may also mitigate or eliminate the need for heating system upgrades.
Making Your Home Heat Pump Ready
Before installing a heat pump, your home must have very low heat loss through the fabric of the building. This is absolutely necessary to make a heat pump effective and financially worthwhile.
With the assistance of SEAI grants, improving your home insulation can be very affordable. This will depend on the specifics of your home and whether you can receive grant assistance.
Average costs to homeowners before any SEAI grant aid are:
Attic Insulation: €2,000 – €2,500
Cavity Insulation: €900 – €2,250
External Insulation: €15,000 – €24,000
Internal Insulation: €4,000 – €10,500
Ground and Water Source Heat Pump Costs
Ground and water source heat pumps are considerably more expensive than air source systems. They cost more to install and can have higher maintenance costs due to their unique setup.
There is far more groundwork involved in installing a ground or water source heat pump. This takes longer and increases labour costs.
Installation and maintenance works that can increase the cost of these heat pump systems are as follows:
Ground Source Heat Pumps
Vertical Layout: You will need to drill a borehole up to 120m deep to accommodate the pipes
Horizontal Layout: You will need to excavate a large surface area to a depth of approximately 1m.
Maintenance: If there is a leak or another issue with the refrigerant loop, the ground will need to be excavated in horizontal systems, or the pipework lifted from a vertical borehole.
Water Source Heat Pumps
Trench Works: A trench at least 0.5m deep will be needed to run pipes from the building to the water source.
Water Loop: A large loop of piping will need to be sunk to the bottom of the body of water being used as the heat source.
Maintenance: Any damage to the piping may require the entire loop to be lifted out. In open-loop systems, the water intake pipes can also be prone to blockages.
Heat Pump Grants Ireland
The SEAI offers up to €12,500 in grant funding for homeowners installing a heat pump in Ireland. This grant scheme is split into three different areas.
Heat Pump: Up to €6,500 for installing a heat pump system.
Heating System: Up to €2,000 for improvements to your central heating system.
Renewable Heat Bonus: €4,000 if you are swapping out a boiler or other electric heating system with a heat pump.
Read on to learn more about whether you are eligible and how much you can get from a Heat Pump Grant.
Cost of Switching from a Boiler to a Heat Pump
These costs are generally included in the overall price tag for installing a heat pump, but removing a boiler can cost in the region of €500 – €1,000. Your installer should handle the disposal of the old boiler as part of the switching process.
Homes which meet the criteria for the heat pump grant scheme can also receive a €4,000 Renewable Heat Bonus. This should cover all the costs of removing a boiler, with some additional money left over towards the heat pump itself.
Best Electricity Plans for Heat Pumps
Heat pumps run on electricity, which means you want to keep your electricity costs as low as possible. If you are paying extremely high prices per kWh of electricity, a heat pump will end up being more expensive to run than an oil or gas boiler.
Look for Cheap Night Time Electricity: Heat pumps maintain a constant temperature 24/7. Since the air is colder outside at night, heat pumps have to work harder, using more electricity. An electricity plan with cheap night rates will minimise your costs.
Avoid Peak Rates: Some smart plans have rate bands with a much higher cost per kWh from 5pm to 7pm. This is heading into the evening when temperatures drop, especially in winter. Avoid these peak rates unless you want a spike in costs.
FAQs
No, without good insulation, your home will bleed heat. The heat pump will then use far more electricity trying to keep your home at a set temperature despite this.
Yes, solar panels can massively reduce or eliminate heat pump running costs during the day. This can be an excellent use of solar electricity that would otherwise be exported to the grid.
