An Air Source Heat Pump is a good alternative to oil central heating. The picture is from our installation last week where we were fitting an ASHP and cylinder to provide hot water and central heating near to Cirencester in the Cotswolds.
In this installation the tank is a UK made hot water tank. It supplies heating hot water via a heat exchanger to the central heating. This means that the hot water for washing is top priority and as it is always hotter than the needed central heating water.
From 20th September an Air Source Heat Pump will earn 10.18p per kWh from an accredited installation from the Domestic Renewable Heat Incentive.
The domestic renewable heat incentive formulae for an Air Source Heat Pump is more complex as it takes into consideration the electricity used to power the heat pump is not necessarily renewable.
Heat demand X (1-1/SPF) X tariff = revenue per annum X 7 = total revenue
We calculate the SPF based on each home and the temperature of the water heated. In the below example we picked the last one we have done. It happens to be a Panasonic ASHP:
20,000 X (1-1/3.2) X 10.19 = £1401 X 7 = £9807.88
The fuel bill will be the electricity needed to power the heat pump. In this case it is 0.3125 X 20,000 = 6250 kWhrs. The cost of this will vary depending on electricity tariffs and/or self generation using solar PV.
15p tariff will leave an electricity bill of £937 per annum
However if you have a smart meter and choose a tariff that has cheap night time electricity, then this could be reduced to £531 per annum. Cheaper than any other available fuel.
We can fit an Air Source Heat Pump in the “3 Counties” are of Herefordshire, Worcestershire and Gloucestershire. If you are interested then please get in touch.