1. What is a Heat Pump Running Cost Calculator?

Definition: This calculator estimates the running cost of a heat pump based on energy consumption and electricity prices in the UK.

Purpose: It helps homeowners and businesses estimate the operational costs of their heat pump systems.

2. How Does the Calculator Work?

The calculator uses the formula:

Where:

• Cost — Running cost in pounds (£)
• kWh — Energy consumption in kilowatt-hours
• price per kWh — Electricity rate in £/kWh

Explanation: The energy consumption is multiplied by the electricity rate to determine the total running cost.

3. Importance of Running Cost Calculation

Details: Accurate cost estimation helps with budgeting, comparing heating systems, and identifying potential savings.

4. Using the Calculator

Tips: Enter your heat pump's energy usage in kWh and the current electricity price (default £0.34/kWh). All values must be > 0.

5. Frequently Asked Questions (FAQ)

Q1: How do I find my heat pump's kWh usage?
A: Check your energy bills, smart meter, or heat pump monitoring system for consumption data.

Q2: What's the current average electricity price in the UK?
A: As of 2024, the average is about £0.34/kWh but varies by tariff and region.

Q3: Does this include the COP (Coefficient of Performance)?
A: No, this calculates raw electricity costs. For actual heat output, divide kWh by your heat pump's COP.

Q4: How can I reduce my running costs?
A: Improve insulation, use time-of-use tariffs, maintain your system, and consider solar PV.

Q5: Is this calculator specific to air or ground source heat pumps?
A: It works for both types, as the calculation depends on electricity consumption.