What is the Heat Pump Cost in New Zealand?
Thinking about getting a heat pump for your home? A big question at the top of your mind might be, "How much is this going to add to my power bill?" We’re here to help in your decision making journey and break down the costs for you.
There are three key factors to think about when considering investing in a heat pump.
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The price of the unit. Some retailers advertise heat pumps with the price being the purchase of the heat pump unit itself excluding installation. To compare prices you need to add the installation cost.
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The installation cost for labour and parts to install it at your home. The installation cost for a heat pump can range depending on size and complexity.
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The running cost will vary depending on the brand you choose as well as the installation company. As for the daily running cost, it will also depend on the energy-efficiency of the heat pump, how often you use it and even where you live in New Zealand.
Heat Pump Efficiency and Your Climate
Having an energy-efficient heat pump is arguably the most important factor to consider when purchasing your heat pump. When it comes down to it, energy-efficiency is what’s going to save you the most on your power bill in the long run. Your location in New Zealand also plays a part. In colder areas, you might need a more powerful (and potentially more energy-consuming) heat pump which is likely to be used more frequently throughout the year. But the good news is that today's heat pumps are designed to be efficient even in the hotter and cooler of climates.
Estimating Your Heat Pump's Running Costs
To give you an idea of the running costs for a heat pump in New Zealand, here is a tool to run some numbers: Gen Less Running Cost Calculator. Choosing an energy-efficient heat pump that's the right size for your space and local climate is important and that's where our local team who know the climate can help. The right heat pump can significantly reduce your electricity bill and reduce the day-to-day costs of running a heat pump.
How Much Power Do Heat Pumps Use?
A typical heat pump in New Zealand will use between 1,500kW and 5,000kW on average, per year. The average kiwi household will use around 6,000kW to 8,000kW of electricity per year. But remember, these numbers can vary drastically based on your location, home size, household size and heat pump efficiency.
Do Heat Pumps Really Save You Money?
Absolutely! Heat pumps are a cost effective and energy effective way to heat and cool your home. Heat pumps are cheaper than traditional heating methods because they don’t actually generate new heat. Instead, they pull heat from outside, even in the winter, and bring it inside to circulate around your home. Alternatively, in the warmer months, the heat pump will absorb warm air from the house, cool it down in its refrigerant and pump the cool air back into the home.
The Coefficient of Performance (CoP) of a heat pump, is a ratio of useful heating or cooling provided to work (energy) required. Higher CoPs equate to higher efficiency, lower energy (power) consumption and thus lower operating costs. When evaluating the average heat pump, the CoP shows that 1kW of power can generate up to 4kW (CoP 4) of heating or cooling energy, proving to be a very efficient source of energy.
Below are some examples of other heating sources and their estimated CoP.
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Electric Bar Heater - Power in - 1kW Heating output - 1kW (Typical COP 1)
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Gas Heating - Power in - 1kW Heating output - 0.85kW (Typical COP 0.85)
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Wood Fire - Wood Burn - 1kW Heating output - 0.65kW (Typical COP 0.65)
Thinking About Heat Pumps? Talk to Us!
Remember, when investing in your home, it's all about finding the right fit. There are many factors to think about to ensure your system works hard for your comfort without draining your wallet. From your home's layout to the local climate, our expert team at AVS will guide you through it all during our initial consultation. We understand the unique needs of Kiwi homes and are dedicated to helping you find the perfect heating and cooling solution.
Ready to explore cost-effective heating and cooling options? Please do not hesitate to contact us at AVS. Our local Tauranga team is ready to evaluate your home and recommend the best heat pump model tailored to your needs. Step into comfort with AVS.