Heat pumps may offer you energy savings after they’re installed, but that doesn’t mean they’re cheap to install. The average installation cost of an air source heat pump is between £3,000 and £11,000. The exact cost depends on the size of your property and the amount of heat you need for your living space.
Fortunately, the installation of an air source heat pump may entitle you to get paid as much as £9,100, thanks to the Domestic RHI (Renewable Heat Incentive). This can help you to continue to save money on your energy bills each month. Therefore, you could potentially end up spending very little money once all the incentives are paid out.
The price of the heat pumps themselves is based on the number of kilowatt output. The average cost per kilowatt for an air source heat pump is £900, while the average cost per kilowatt for a ground source heat pump is £1,300. For example, if you were to purchase an air source heat pump with 8kW, the cost of the parts and installation would be £7,200.
On the upside, a higher “Total Installed Capacity” will lower your cost per kilowatt. This means that a higher kilowatt system may only require you to pay £600 per kilowatt instead of £900.