Analysis: Running costs of heat pumps versus gas boilers
The running costs of clean heating technologies are a subject of fierce debate. Often misinformation is derailing a common understanding of how much it costs to heat homes with heat pumps in the UK. This analysis shows that if they are designed and installed well, heat pumps can be cheaper than gas boilers, the main home heating technology used in the UK.
Household gas prices are on the rise and are expected to increase by another 84% in April. Electricity prices have risen too, but not as much as gas. As a result, renewable heating technologies such as heat pumps are now much more competitive. This analysis shows that, with an efficient heat pump, households can now save up to 27% on their heating bills compared to a gas boiler. Heating with a gas boiler will cost households £934 per year, up from £579. A very efficient heat pump will only cost £723 per year, up from £536 per year. For an average household, this is a saving of £261 per year.