Households in the United Kingdom could save 50% on energy bills by switching to energy-efficient heat pumps, according to new research by the climate think tank E3G.
Its report explained that since the energy crisis began, gas heating bills have remained around one-third higher for most residents. However, government policies that incentivize the adoption of heat pumps could slash annual bills from approximately £820 ($1,100) to £375 ($503).
Currently, the average annual price-capped bill for households with heat pumps is higher than that for households with gas boilers, at around £930 ($1,250).
E3G suggested several policy changes that would significantly reduce heating bills, including removing levies on electric heating, introducing a clean power system, boosting heat pump efficiency and performance, ensuring heat pumps are equipped with smart technology to integrate with the grid, and implementing more flexible tariffs to lower off-peak electricity costs. Altogether, these changes would shave £555 (nearly $750) off electric heating costs.
Upgrading your HVAC system to a heat pump is one of the most effective ways to cut utility bills and stay comfortable all year round. According to the Department of Energy, more than 40% of the average household's energy bill is allocated to heating and cooling. Since heat pumps are far more efficient than furnaces and boilers, transferring heat rather than generating it, they can lower electric bills by hundreds to over $1,000 a year, per the DOE.
TCD's HVAC Explorer is a valuable resource for finding information on which HVAC system is right for your needs and budget, along with special deals you won't find anywhere else. Some trusted partners, such as Palmetto, can help you save up to 50% on energy bills with an energy-efficient heat pump and access $0-down leasing options.
By using the HVAC Explorer, homeowners can affordably upgrade their HVAC systems and enjoy lease payments as low as $99 per month. Palmetto also provides 12 years of free maintenance, giving customers access to all the benefits of heat pumps without the upfront expense or hassle of dealing with repairs.
Pairing a next-generation heat pump with solar panels can further reduce your utility costs, and TCD's Solar Explorer makes it easy to find the right system and installer for your home's energy requirements.
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To maximize energy savings, the Palmetto Home app can unlock $5,000 in rewards to spend on eco-friendly home upgrades and offer tips for simple, money-saving lifestyle changes.
"The only credible, long-term option to reduce heating bills is to replace imported fossil gas with cheaper electric alternatives," E3G said in the research summary.
"With the right policy changes, the average household heating bill could be over £400 [around $537] lower with a heat pump than with a gas boiler."
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Which of these factors would most effectively motivate you to buy a heat pump? Click your choice to see results and speak your mind. |
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