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Is it worth paying for a heat pump?

Journalist: Esther Shaw, Freelance

ended 05. October 2023

The heat pump grant may be rising to £7,500 later this month, but is it a price worth paying?

Looking for comment / opinions on concerns such as:

*will the increased grant mean a flood of requests and long waiting lists

*should you wait a little longer given pumps are coming down in price? or is it risky ‘hedging your bets?’

*while the grant is a helping hand, you'll still have to stump up the difference - so could still end up paying thousands

*is it the case that while the grants have increased, the overall pot hasn't - so fewer are likely to benefit?

 

 

 

2 responses from the Newspage community

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Editor
Michelle Lawson
Director at Lawson Financial
I can't see the benefits in the pumps personally. There is a long break even period regardless of the cost. These are also not suitable for all such as those in flats and terraced houses due to the amount of space they take up. The savings do not outweigh the cost so I don't see a significant uptake.
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Gary Bush
Financial Adviser at MortgageShop.com
It seems that air heat pumps, currently, have mixed outcomes when used in the UK - so really it's a case of do you want to be one of the guinea pigs? Ground source pumps, if you have the correct amount of garden space, do appear to be a worthy investment and the improved grant conditions will be very useful for suitable home improvers.