Will I save money switching from my current boiler to a heat pump?

It is possible to save money by switching from a boiler to a heat pump but this depends on a variety of factors.

You can save money on all fuel types simply by improving the thermal insulation of the property, reducing the room temperature by 0.5°C or 1°C and by shopping around for a better energy deal.

However, there are some additional things to consider when looking to switch from a boiler to an air source heat pump.

Will switching to a heat pump automatically save me money?

Heat pumps can be up to four times more efficient than a traditional heating appliance like a gas or oil boiler, so they do use less energy to produce the same amount of heat. Nevertheless, increased efficiency should not be confused with lower running costs. Like with most renewable products, heat pumps tend to be more expensive to install compared to a typical gas or oil boiler installation.

When you factor in the purchase and installation costs of a heat pump, you will probably find that boilers are cheaper overall – running costs will be heavily dependent on current fuel costs and electricity tariffs.

Heat pumps with lower efficiencies will understandably cost more to run than high efficiency models so choosing an Aerona³ will certainly help keep costs down. When purchasing a heat pump, you should review the efficiency rating of the model to ensure it will be the best choice for you and your home. The Grant Aerona³ will help keep costs down due to having a good efficiency rating.

It is worth noting that the cost of electricity will also impact the cost of running your air source heat pump. You should check your costs with your energy provider, or shop around, to find the solution that works best for you and to ensure you are getting the best deal.

Electric bills will probably be higher during the winter months than any other time and maintaining a constant temperature in the house with an air source heat pump will mean that the heat pump is only topping up the heat that is required instead of having to do a lot of work when you let the house cool during the night or at times when you are at work.

Example costs of running an air source heat pump

Provided below is an example of the running costs of a family home which previously had a gas central heating system before undergoing an extension and swapping to a renewable heating system with an Aerona³ 13kW heat pump:

  • Before the extension project (three-bedroom home) using a gas boiler, the family’s average gas and electric bill was £180 per month
  • After the extension project (four-bedroom home) using a heat pump, their average electricity bill was £170 per month (with no gas bills to consider anymore)

Read more about Grant heat pumps here. 

(Data correct November 2021)

Return to top