HPA: it’'s official, heat pumps offer the lowest running costs

The Sustainable Energy Authority of Ireland (SEAI) has introduced estimated running costs for heat pumps into its monthly domestic fuel costs report.

Click here to view the full report.

The figures for July released by SEAI now include a section on electricity used by heat pumps, highlighting the difference in operating costs for heat pump technology over other fuels for the first time.

Responding to the report, the Heat Pump Association of Ireland (HPA) said that the figures confirmed that heat pumps are the cheapest form of heating.

Oil burnt at 80% efficiency - perhaps the most commonly achieved average – costs an estimated 10.73 cent per kilowatt hour (kWh), reducing to 9.54C at 90% efficiency. Bulk LPG at 80% efficiency costs 15.46C per kWh, while bulk wood pellets at 80% efficiency cost 6.27C per kWh.

For homes on the natural gas grid, and on the band D2 rate, the cost is 7.73C per kWh at 80% efficiency.

Heat pumps with a listed average seasonal performance factor of 4, (day rate electricity band DD) score at 4.53C per kWh for band DD day rate electricity, falling to a mere 2.13C per kW on night rate.

“Most heatpump installations run on a 50/50 mix of night and day rate electricity which would therefore average out at 3.33cent per kW Hour,” a HPA spokesperson said.

“In money terms an average bungalow in Ireland using 30,000 kWh would currently cost €999 with a heat pump.” The spokesperson said that meeting the same energy supply from oil at 80% efficiency would cost €3,219. “An annual saving of €2220 is possible,” he added.