Heat Pump Savings Calculator

Heat pumps are becoming the go-to alternative to gas boilers across Europe, driven by rising gas prices, government incentives, and the urgent need to decarbonise residential heating. The economics of switching depend heavily on your country: the ratio between electricity and gas prices, your local climate (measured in heating degree days), and available subsidies all play a role.

There are two main types of heat pump for home heating. Air source heat pumps are the most common, costing EUR 8,000-12,000 to install and achieving an average Coefficient of Performance (COP) of 3.2. This means they produce 3.2 kWh of heat for every 1 kWh of electricity consumed. Ground source heat pumps cost more (EUR 15,000-20,000) due to the need for boreholes or trenches, but achieve a higher COP of 4.2 since underground temperatures are stable year-round.

Our calculators estimate your annual heating demand based on your home size, insulation quality, and local heating degree days. We then compare the cost of running a heat pump against a gas boiler, using real electricity and gas prices for your country. Typical payback periods range from 5-8 years in countries with high gas prices and moderate electricity rates, to 15+ years where gas is cheap relative to electricity.

Beyond running costs, heat pumps offer environmental benefits by reducing CO2 emissions by 50-70% compared to gas boilers. They also provide cooling in summer, require less maintenance, and last 20-25 years versus 12-15 years for a gas boiler. Many EU countries offer grants of EUR 2,000-7,000 to help offset installation costs, making the switch more financially attractive than the headline numbers suggest.