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The Heat Pump Market is Growing

Original article provided by Alto Energy Limited

 

The latest industry analysis has shown that in 2018 the heat pump market grew by over 20% in units delivered compared to 2017. This growth is excellent news for the heat pump industry, as well as the environment, because heat pumps make significant carbon savings compared to traditional fossil fuel alternatives. It is also a sign of the times, as more customers are switching away from fossil fuel boilers and installing energy efficient heat pumps in their homes.

What is Driving Growth in the Heat Pump Market?

Housebuilders

Heat pumps are an excellent choice for housebuilders. Heat pumps make significant reductions to the carbon dioxide emissions for a property, which in turn creates significant improvements in the EPC ratings for the property. Not only does this help with building regulations compliance, but potential homeowners are becoming increasingly discerning about the choice of heating and hot water in the property, and traditional oil and LPG boilers are now seen as unattractive.

Furthermore, by 2025 the Government plans to ban boilers in new build homes, so it makes sense to get started sooner rather than later! Read more here >>

Heat pumps provide a total heating and hot water solution, therefore completely replacing the need for a boiler.

By choosing an MCS company like Alto Energy, we are able to provide the complete handover pack including an MCS certificate and sign off heat pump through Building Regulations. It is also a requirement of the NHBC warranty for the heat pump to be installed by an MCS installer.

Homeowners

If you’re a homeowner, there are so many reasons to consider switching to heat pump technology.

Firstly, you will make significant savings on your running costs. A heat pump will completely replace your existing boiler, and operates using electricity. A heat pump works by moving heat from one place to another - rather than creating heat by burning fuel - and as such they are very efficient. Typically, a ground or air source heat pump will generate around 3.5 units of heat for each unit of electricity consumed. We would typically expect a heat pump to be around 40% cheaper to run that a traditional oil boiler, and the savings are even greater versus an LPG boiler.

Secondly, you will earn an income from the renewable heat incentive (“RHI”). The current tariffs are at the highest level they've ever been, with more paid for each unit of renewable heat created by the heat pump than ever before. You get paid for each unit of renewable heat generated by your heat pump over a 7 year period, with payouts made quarterly. Once you join the scheme, you are protected from any future reductions in tariff, and in fact the tariffs will increase periodically in line with the Consumer Price Index.

Potential lifetime income from the RHI for an air source heat pump is up to £10,000; and for ground source heat pumps the potential lifetime income is up to £20,000.

Choose Alto Energy as your Heat Pump Partner

 

Whether you are a homeowner, a self-builder, an installer or a developer, working with Alto Energy is always going to be an excellent choice. We will ensure your project is designed right, is supplied with high-quality products that deliver reliability and efficient performance, and crucially provide you with an MCS certificate. You will also ensure you have access to any applicable grants, as well as complete MCS compliance and Building Regulations sign off.

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