Profitability

Does it pay off?

Is it worth paying off the use of heat pumps?

The heat pump is very economical in operation, primarily due to the fact that it is necessary to pay only a small part of the total heat energy. This is the energy required for the operation of the circulation pump and compressor. Heating and cooling through a renewable energy source is a step ahead of all other energy sources. Energy saving and energy efficiency using heat pumps is reflected in the fact that for the transfer of energy from one space to another, it is necessary to invest up to one fourth of the transferred energy.

In other words, it means that from the outside air or the use of low temperature geothermal energy (groundwater or heat of the earth) 20kWh of heat energy can be inserted into the heated area, whereby only 3-5kWh of electricity is spent for the operation of the heat pump. Energy saving is evident, and it is up to 80%.

The efficiency of this system, compared to conventional heating and cooling systems, can be further increased by providing “free” hot water in the facility, which additionally reduces the electricity bill. You must know, what would you do with money that comes with clean savings due to the application of heat pumps in the heating and cooling system.

The fact that in the countries of the European Union, next year will install close to 450,000 heat pumps, he speaks for himself. Before looking at the monitoring of consumption and comparison with other air conditioning systems, it is advisable to look at the principle of the heat pump operation as well as the sources (free) of the energy it uses.

Performance Coefficient (COP) The energy efficiency of heat pumps is expressed through the COP (Coefficient of Effect). It is the relationship between the energy that is invested and the energy we get at the exit, for heating or cooling. Comparison is continued with respect to classical systems. The higher this coefficient, the better the energy efficiency of the system. For heat pumps, its value ranges from 4-6, and in practice it is proportionally higher. Each unit of electricity invested in the start of the heat pump mechanism allows it to deliver a minimum of 4 to 6 units of heat, which it drains from natural sources.

What you need to know about the COP? The coefficient of effect (COP) depends largely on the water temperature in the installation. The lower the COP is the higher the water temperature in the installation. The COP is generally given for two output temperatures, + 45C and + 35C. Temperature of + 45C is used for heating by fan coil, and the temperature of + 35C is used for panel heating (in Serbia mostly known as underfloor heating).

In 2011, we performed measurements of one customer’s annual electricity consumption. The building is 200 sqm and has medium insulation. The boiler room had its own electrical meter and a calorimeter (a device that measures the amount of heat produced). We obtained the following results (data given in dinars with VAT included):

Here, only heating is considered for easier comparison of the heat pump operation with other heating systems. Based on this research, we can perform a power consumption comparison of the different heating systems with a heat pump.

Comparisons

Heat pump vs all other systems

As we have already seen on the experimental facility, in 2011, an average isolated house spent electricity for driving heat pump used for heating:

Note: Consumption estimation for the heat pump is given according to the maximum load. An annual calculation (much smaller) is given in the part of monitoring the consumption of a medium-isolated object of 200 sqm.

At the same time, the electric boiler would consume:

Coal Banovici

City district heating (central heating):

Natural gas:

Conclusion

The heat pump is a lot cheaper in exploitation than any other heating system. That is why the R.O.I. of the heat pump itself is about 3 years. Graphically it looks like this: