If you’re reading this article, I’m going to assume that you currently have an oil boiler and are considering making the switch to an air source heat pump?
I’ll also assume that you’re interested in saving money on your energy bills?
If that’s the case, you’ve come to the right place!
In this article, I’m going to compare the running costs of an air source heat pump vs an oil boiler.
- 1 What is an Air Source Heat Pump?
- 2 What is an Oil Boiler?
- 3 Will Air Source Heat Pumps Reduce My Carbon Footprint?
- 4 What's the Bottom Line?
What is an Air Source Heat Pump?
An air-source heat pump is a bit like a refrigerator in reverse. It takes heat from the air outside and uses it to heat your home (or hot water).
How does an Air Source Heat Pump Work?
An air-source heat pump consists of three main parts: a compressor, an evaporator, and a condenser.
The compressor pumps refrigerant around the system. The evaporator absorbs heat from the air and the condenser releases it into the heating and hot water circuits of your home.
– renewable (the air is a renewable resource!)
– cheaper to run than oil boilers
– low carbon
– easy to maintain
– require more space than an oil boiler
How much does it cost to run?
The cost of installing an air source heat pump may range from £8,000 to £18,000, while ground source heat pumps can cost anything from £20,000 to £35,000.
Homeowners can make money after a few years thanks to the savings and subsidies like the Green Homes Grant.
What is an Oil Boiler?
An oil boiler is a boiler that uses oil to heat your home. There are two types of oil boilers: heat-only and combination condensing boilers.
A home needs about 2 gallons of heating oil each day if the outside temperature is 50 degrees Fahrenheit. So, if you have a 275-gallon oil tank, it will last around 137.5 days or roughly four and a half months when full. It’s essentially all you’ll need throughout the cold season.
How much does it cost to run?
The average cost of an oil boiler like this one is about £2400. Installation costs would be between £500 and £1000, depending on your situation. As a result, you may expect to pay anything from £2900 to £3400 for the entire project.
Oil boilers cost between £1,355 and £1,950 a year to heat a three-bedroom home, as opposed to between £770 and £950 with a gas boiler.
Heat Only Oil Boilers
Heat-only boilers require a tank of oil to be stored on-site, while combination condensing boilers have the ability to use both oil and mains gas.
How does an oil boiler work?
Oil boilers work by burning oil to produce heat. The heat is then used to heat your home (or hot water).
There are several advantages and disadvantages of having an oil boiler.
- – can be cheaper to buy than air source heat pumps
- – easier to install than air-source heat pumps
- – no noise outside
- – non-renewable (oil is a finite resource)
- – emits carbon dioxide (a greenhouse gas)
Combination condensing oil boilers
Condensing oil boilers operate in the same way as other oil boilers. The oil is kept in a tank on the property, and it is just as efficient as natural gas.
When you require heating or hot water, the oil is transferred from the tank to the boiler, where it’s burned.
How does a combination condensing oil boiler work?
A condensing boiler, as the name implies, makes better use of the heat it generates by employing condensing technology.
Gases are released via a flue when a fuel, such as natural gas or oil, is burned.
These gases would go into the atmosphere in a non-condensing boiler system and their heating potential would be lost.
- Lower energy bills.
- Reduced carbon footprint.
- Hot water on demand.
- More space around the home.
- Easy to install.
- Struggles to meet the high demand for water.
- Overly complex set-up.
- Slower hot water rate.
- If an oil combi-boiler breaks down, you lose hot water and central heating at the same time.
Will Air Source Heat Pumps Reduce My Carbon Footprint?
Yes, air-source heat pumps are considerably more environmentally friendly than traditional gas or oil boilers.
Over ten years, installing a heat pump might reduce your carbon emissions by more than 23 tons of CO2.
How Much Will I Save on My Energy Bills?
The cost of running a domestic heat pump is determined by a number of variables, including Coefficient of Performance (COP) – With typical values of 3.5 to 4.5 for ground source heat pumps and 2.5 to 3.5 for air source heat pumps, it may save up to 52 percent by replacing a gas boiler with only space heating instead than both space heating and water heating (ground source heat pumps).
Since heat pumps last twice as long as an oil boiler and the fact that you would change an oil burner twice for every air source heat pump, it's much cheaper to install a heat pump than it is to keep an oil boiler running.
You will also be able to receive a grant to go towards the initial installation costs.
What's the Bottom Line?
Air source heat pumps are cheaper to run than oil boilers, and they're also more environmentally friendly. If you're looking to save money on your energy bills and do your bit for the planet, an air source heat pump is a great option!
Since they last twice as long, and with the installation cost offset by government grants, air-source heat pumps are a wise investment for the future.
If you're not eligible for the Green Homes Grant, or you would like to find out more about air source heat pumps, please contact us. We would be happy to advise you on the best way to reduce your energy bills and carbon footprint!