Overall, ground source heat pumps have become more common in recent years. As a result of rising energy bills and improved government support for renewable heating, uptake has surged as customers look for cheaper ways to heat their homes.
Due to their efficiency, ground source systems offer many financial benefits to customers. In addition, homes and businesses switching their heat demand to a green technology will lower their carbon footprint.
In summary, this page provides an overview of the benefits of an example ground source heat pump installation.
This ground source system consists of:
Also, included in the installation:
– Installation of the ground source heat pump
– Plumbing of the direct hot water cylinder
– Connection of the electrical system
– Provision of the bore hole system
– Commissioning of the system
This ground source installation is sized to provide 100% of the home’s space heating and hot water demand.
The Vaillant heat pump will produce 27,072kWh of heat energy each year.
This ground source system is predicted to cost £885 a year to run. This represents an annual saving of £865 aginst the customer’s existing oil boiler – almost a 50% reduction.
Renewable Heat Incentive payments
Not only cheaper to run, as an MCS registered product installed by an MCS registered company, this heat pump is also eligible for Renewable Heat Incentive payments.
Customer’s system registered with the RHI scheme receive payment for every unit of renewable heat their system generates.
The customer benefitting from this ground source heat pump installation will receive around £3,500 each year for the next 7 years.
This equals a total RHI benefit of £26,250.
10-year System Benefit and Return on Investment
Comparing the system benefits with the upfront capital costs give you a prediction of the system financial returns.
Combining energy savings and incentive payments, this system offers a 10-year benefit of £38,800.
GreenGen calculates that this system will provide an annual investment around 27% and a payback period of 4 years.