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If Your Oil Tank Had a Smart Meter…

Smart meter heat pump solar pv

As the owner of a heat pump, it’s easy to feel a little anxious when you see your smart meter readings spike during the coldest days of the year. But here’s the reality: heating your home in extreme weather means your heat pump is working harder—and that’s exactly what it’s designed to do. What if, however, your oil tank had a smart meter? Would the picture look any better? Let’s break it down.

Why Do Heat Pumps Use More Electricity in Winter?

Heat pumps extract heat from the outside air, even in freezing temperatures, and transfer it into your home. On especially cold days, the process becomes less efficient as the system has to work harder to maintain a comfortable indoor temperature. For example, a typical 10kW heat pump operating at a Seasonal Coefficient of Performance (SCOP) of 3 will consume approximately 3.3kWh of electricity per hour. Over a 24-hour period, that adds up to:

3.3kWh x 24 hours = 79.2kWh per day.

With the average UK electricity price currently around £0.25 per kWh, this would cost:

79.2kWh x £0.25 = £18.80 per day.

 

Comparing the Costs: Heat Pumps vs Oil Boilers

Let’s take a closer look at a traditional oil boiler. A litre of heating oil produces roughly 9kWh of heat energy, and most oil boilers operate at about 90% efficiency. At current heating oil prices in Cornwall (£0.68 per litre), the cost per kilowatt-hour is:

** 0.68 / 9kWh =  0.075 (7.5p per kWh).**

Now consider a typical home with a 28kW oil boiler. Running at full capacity, the cost per hour would be:

28kW x  0.075 = £2.10 per hour.

If that boiler ran for 12 hours on a particularly cold day, the total cost would be:

12 hours x £2.10 = £25.20 per day.

 

What Would an Oil Smart Meter Reveal?

If your oil tank had a smart meter, it might shock you to see just how much you’re spending. While oil boilers don’t typically run as consistently as heat pumps—since they operate at higher output levels for shorter periods—the overall daily costs often exceed those of a heat pump.

Weather Compensation: Smarter Efficiency on Warmer Days

One of the standout features of modern heat pumps is their ability to adapt to varying weather conditions through integral weather compensation. This means that on warmer days, your heat pump automatically reduces its output, leading to significantly lower energy consumption while still maintaining a comfortable home temperature.

The Samsung, Mitsubishi, and Vaillant heat pumps installed by GreenGenUK all come equipped with this feature. These intelligent systems ensure your heat pump operates at peak efficiency year-round, saving energy and reducing costs.

Learn more about these brands and their innovative technologies:

Standing Charges and Smart Meter Readings

It’s also worth reminding customers who’ve had a smart meter for a few years that recent increases to standing charges are reflected in many smart meter displays. Typically, a charge of around 60p is added at the beginning of every day—just for the standing charge alone. This fixed cost, unrelated to energy consumption, can contribute to the daily total displayed on your smart meter.

Understanding Your Heat Pump’s Smart Meter Readings

Seeing your electricity usage spike on cold days might be unsettling, but it’s important to keep things in perspective. Heat pumps are designed to maintain a comfortable temperature efficiently, even during extreme weather. By investing in a heat pump, you’re not only keeping your home warm but also making a sustainable choice that benefits the planet.

Here are some tips to manage your running costs:

  1. Optimise Efficiency: Regular servicing and maintenance help ensure your heat pump performs at its best.
  2. Take Advantage of Smart Tariffs: Use off-peak electricity rates to reduce running costs.
  3. Improve Insulation: A well-insulated home requires less energy to heat, lowering your bills.
  4. Pair with Solar PV: Generate your own electricity to further reduce costs and emissions.
The Long-Term Benefits of Heat Pumps

Unlike oil boilers, heat pumps are part of a sustainable future. They’re more energy-efficient, better for the environment, and—over time—more cost-effective. By switching to a heat pump, you’re investing in both your home and the planet.

So, the next time you glance at your smart meter and feel a pang of worry, just remember: if your oil tank had a smart meter, the picture might look a lot worse! Heat pumps remain one of the most efficient, reliable, and eco-friendly heating solutions available today.

For more tips on making the most of your heat pump or exploring renewable energy options give us a call on 0800 093 3299

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