Expert Refrigeration and air conditioning installs and repairs  |  Servicing Kapiti to Palmerston North
Expert Refrigeration and air conditioning installs and repairs  |  Servicing Kapiti to Palmerston North

How Much Money Can Households Save with a Heat Pump?

If you keep your home warm with a traditional gas or electric heater, you might have noticed the costs of using it soaring during the cost-of-living crisis. This could have left you wondering whether a more cost-effective form of heating is available. Could residential heat pump installation be the solution?

It would certainly look like a promising route to take. While standard heating units work by creating heat, heat pumps instead transfer existing heat from outside to inside the building. As a result, a heat pump can help you to save significantly on household heating costs — but how much exactly?

Typical Running Costs Applicable to Heat Pump Usage

Key to the appeal of a heat pump is that it will actually come with both a ‘heating’ mode and a ‘cooling’ mode. You will be able to switch between the two as and when your needs dictate.

The New Zealand government has indicated that using a heat pump’s heating mode during the winter can incur costs in the range of 3 to 16 cents for each kilowatt-hour (kWh) of heat generated. Meanwhile, using a heat pump’s cooling mode can expend somewhere between $60 and $120 per month.

What Factors Can Influence Heat Pump Running Costs?

The above are ultimately only ballpark figures — as, in practice, exactly how much you do spend on using a heat pump will depend on a multitude of factors. 

For example, the machine will inevitably need to work harder — and at greater financial expense to you — to keep your home comfortably warm if it is particularly large or poorly insulated.

Fortunately, there remain various things you can do to help streamline your spending on heat pump usage. These include, during the summer, using the heat pump’s fan mode — despite the extra hourly cost of about five cents this would entail — and dehumidifying setting for combatting excessive heat.

Should You Really Switch to a Heat Pump?

All in all, it must be remembered that using a traditional electric heater could easily cost you between 19 and 40 cents for each unit of heat produced — meaning that a heat pump can present much better value.

To learn more about how favourably a heat pump compares to a conventional heating system in cost efficiency, phone Minus 21 Refrigeration on 027 302 2455. We can undertake residential heat pump installation in the New Zealand districts of Manawatu, Horowhenua and Kapiti Coast.

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