How Much Does it Cost to Run a Heat Pump?
If you’re contemplating heat pump installation for your home, your main concern may be how much it will affect your power bill. The cost of running a heat pump will depend on several factors – the system or model, the cooling and heating power capacity, and the size of your space. Let’s look at the numbers and see whether or not they’re worth the investment.
How Much Does Running a Heat Pump Cost?
While heat pump running costs will depend on the size of your home and how energy-efficient the model is, we can estimate the running costs using the Gen Less Running Cost Calculator. If you’re using a heat pump based on a 4-star energy rating with an electricity cost of 26c per kWh for six months of the year, nine hours a day, here’s how much you’re likely to spend:
| Heat pump output
2.5kW 3.5kW 4.5kW 5.5kW 6.0kW
|
$ for 6 months when used 9 hours per day
$164.97 $230.96 $296.95 $362.94 $428.93
|
The online calculator also shows that using a heat pump for six months of the year, eight hours per day, with an energy output of 6kWh based on a 5-star energy rating heat pump model will cost you around $300. This is why it’s vital to look for the energy rating label when choosing heat pump models. The more stars, the more energy-efficient they are.
Are Heat Pumps Efficient to Run?
Heat pumps are surprisingly efficient to run. Why? Because instead of creating heat, they simply move it from one space to another, significantly reducing heating costs compared to your electric heaters, gas, and wood burners.
Conventional heating systems such as an electric fire or gas boiler have a Coefficient of Performance (CoP) of less than one. This means that it burns more than one kilowatt of power to produce a kilowatt of heating power. Heat pumps use an average of less than one kilowatt of electricity to achieve four kilowatts of heating or cooling power, making them the most efficient option, especially for large living spaces.
Most living areas will need about a 6kW capacity unit. And heat pumps used in living rooms can run thrice more efficiently than electric heaters for a fraction of the cost. A plug-in electric heater will cost you 26 cents/kWh, while a heat pump will cost you 8.5cents/kWh.
More Savings in the Long Run
According to Stuff, roughly one-third of Kiwi homes have heat pumps installed. And it’s easy to understand why – heat pumps produce more heat and offer a more reasonable charge for power than electric heaters. You can receive up to $3 of heat for every $1 spent on heating. By choosing the heat pump sized correctly for the volume of air it needs to heat and the climate in which it operates, you’ll be able to achieve electricity savings over time.
Choose Efficient Heat Pumps From Aeon Energy
As a heat pump company, we want to make sure you get clean, safe, and energy-efficient heat pumps to increase comfort in your homes. At Aeon Energy, we offer a wide range of heat pumps that are cost-effective to run. From hi-wall mounted heat pumps and floor mounted consoles to ducted heat pumps, we’ve got them. Our models are fitted with technology to deliver excellent heating and cooling solutions without breaking the bank. Book a free home assessment so we can evaluate your space and recommend the best model for your home.