Will Installing an Air Source Heat Pump Help Me Save Money?

With the cost of living crisis still in full swing, more and more homeowners are searching for ways to cut down on their energy bills. Thankfully, there are plenty of options available, with one standing out more than most: air source heat pumps (ASHP). But do air source heat pumps save money?

A modern alternative to traditional heating systems, ASHPs work by gathering the ambient heat in the air outside your home and sending it into your heating and hot water systems. They've become increasingly popular in recent years thanks to their high efficiency, eco-friendliness, and potential to slash hundreds of your yearly energy bills.

Meridian Cooling have been in the HVAC business for over 30 years, specialising in a wide variety of heating, ventilation, and air conditioning services. Below, we answer the question “Will a heat pump save me money?”. We will also look at the factors that determine how much you'll save on your bills when you install one.

How Can ASHPs Save Me Money?

The good news is that the answer to your question “Do air source heat pumps save money?”, is yes!

• In fact, one of the standout features of ASHPs is their money-saving potential. Here are some of the ways they can save you money on both bills and maintenance:
• ASHPs are highly energy-efficient systems. They use electricity to operate but can provide several units of heat for every unit of electricity consumed. The Coefficient of Performance (COP) measures this; a typical ASHP might have a COP of 3 to 4, meaning it can produce three to four times as much heat as the electricity it consumes. This results in lower electricity bills compared to more traditional heating systems.
• ASHPs can provide both heating and cooling, reducing the need for separate heating and cooling systems. The efficiency of ASHPs means they can provide the same level of comfort as traditional systems while using less energy.
• Many ASHP systems come with advanced controls and zoning options, allowing you to heat or cool specific areas of your home as needed. This can help you avoid heating or cooling unused spaces, further reducing energy consumption and costs.
• ASHPs typically require less maintenance compared to traditional heating systems like furnaces or boilers. Regular maintenance, such as cleaning filters and coils, is usually all that's needed to keep the system running efficiently.
• Thanks to the Boiler Upgrade Scheme, you can receive £7,500 towards the installation of an ASHP. This can help offset the initial installation costs, making ASHPs a more cost-effective option.
• While the upfront cost of installing an ASHP can be higher than some traditional heating systems, the long-term savings on energy bills can make up for this initial investment over time. ASHPs often have a longer lifespan than traditional heating systems, further contributing to cost savings. All of these are ways that an air source heat pump will save you money.

What Factors Affect the Money-Saving Potential of an ASHP?

While the answer is yes, to the question “Do air source heat pumps save money”, the money-saving potential of an ASHP can be influenced by various factors.

1. Climate and Location

The performance of an ASHP depends a lot on the local climate and weather conditions. ASHPs do their best work in areas with milder climates where temperatures don't plummet too much. They tend to become less efficient in extremely cold weather. In really cold places, you might need a backup heating system, and this can affect your cost savings.
The good news is that the UK usually enjoys relatively mild temperatures, which means that ASHPs can perform well even during the winter. So, this is less of a worry in the UK compared to some other countries as you will continue to save money even in the colder months.

2. Unit Efficiency, Size, and Capacity

The efficiency of the ASHP unit itself is crucial. The more efficient the model, the higher the savings, so look for a model with a high Seasonal Energy Efficiency Ratio (SEER) for cooling and a high Heating Seasonal Performance Factor (HSPF) for heating.
It's also important to choose the right size and capacity for your home's layout. An undersized unit will struggle to maintain comfortable temperatures and may run constantly, increasing energy consumption. Conversely, an oversized unit may cycle on and off frequently, reducing efficiency.
For the best HVAC system fit for your home, it's always a good idea to work with trusted specialists like Meridian Cooling. We'll assess your home and take measurements to make sure we select a high-efficiency unit with the perfect size and capacity so that your air source heat pump will save you money.

3. Insulation and Home Efficiency

It's not just about what's outside your home that counts; what's inside matters, too.
A well-insulated and properly sealed home works wonders in keeping the heat in during winter and keeping it out during summer. This means you won't have to turn on your ASHP as much or keep it set as high, which translates to greater savings on your energy bills.
So, remember when asking if an air source heat pump saves money, you first need to make sure that your home is well insulated.

4. Electricity Source

While ASHPs don't use nearly as much electricity as traditional heating systems, they still require some power to run.
The origin of your electricity, therefore, has an impact on the environmental and financial benefits of using an ASHP.
If your electricity comes from renewable sources, such as solar panels, using an ASHP can reduce your carbon footprint further and potentially save you even more money. Combining a renewable energy source with an air source heat pump will likely help you save money even more.

5. Maintenance and Service

Like with most machines, regular maintenance is key to keeping your ASHP running smoothly. Inspections will let you spot and address issues like dirty filters, refrigerant leaks, or other concerns before they become major headaches. Otherwise, they could lead to reduced efficiency, higher bills, and potentially more significant problems later on.

Talk to the South's Leading ASHP Installers

Now that you know the answer to the question “Do air source heat pumps save money?” and understand the factors that influence it, there's only one thing left to do: invest in your very own ASHP, with the backing of the South's most trusted installers!

For more than three decades, the Meridian Cooling team have been dedicated to providing excellent ASHP services to homes, offices, and businesses of all kinds to help them save money.

Our highly-trained, accredited team are ready to design and install a high-quality heat pump tailored to your home's layout, guaranteeing maximum performance and cost savings while making your comfort a priority.

Besides handling the installation, we can also offer you planned maintenance services and 24/7 repairs to keep your heater running smoothly.

Our services cover all of the South, including London, Southampton, Portsmouth, Hampshire, Poole, and more. If you're ready to get started, book a free survey online or call us on 01202 658254 today!