Heat pumps are the cheapest way of heating your home, reveals an analysis by University College Cork’s Paul Deane.
Based on ROI energy data from the Sustainable Energy Agency of Ireland the graph below shows how much a unit of useful heat costs to warm your home in Ireland, with peat costing the most and heat pumps the least.
Source: Paul Deane UCC, costs include VAT and data is from April 2017. Associated CO2 emissions for higher and lower efficiency levels shown with black markers
The graph compares heating costs on a common base per useful unit of heat output to a room in cent per kilowatt hour for high and low efficiency equipment (boilers, stoves, heaters, etc).
For the analysis, an assumed efficiency for the heat pump category was set at a Coefficient Of Performance of 3.
