In a previous blog, we took a look at dynamic energy pricing in relation to solar PV and battery systems, and how it could impact both consumers and installers alike. In today’s blog, we examine the ‘Heat Pump Tracker Tariff,’ which looks to lower energy costs by staying in the remit of the price cap irrespective of time of day. In doing so, the EDF have stated that the average household should expect to save £160 per year. The above is in an effort to increase the amount of consumers who actually have an air source heat pump fitted, which is at an extremely low 2%, compared with the high number of consumers who are concerned about energy prices (Edf, n.d.)

There is a clear disparity between consumers being concerned and actually taking action to offset costs, in this case by fitting an air (or air & ground) source heat pump, and the tracker tariff looks to change this by providing more clear potential savings from the installation of heat pumps.

This is all being pushed to help the government reach their ambitious targets, which for heat pumps in particular have fell short. Despite this, there is still benefits to the consumer, and as 26% of people in the UK have said that they would install a heat pump in the next 5 year (Edf, n.d.), there is a benefit to the installer as well. At GRE, we care much more about consumers and installers than ‘targets’, and strive to make sure those who can benefit from renewable energy do (whether through consuming or installing it.) With this in mind, the tariff should on paper encourage more consumers who are concerned about energy costs make the switch in the next 5 years due to the lower running costs and will therefore create more opportunities for installers of heat pumps. This combined with the governments relentless push of the technology, makes for a lucrative decade for those who are trained correctly in the installation of the systems.

As always, this is where we come in…

To view our heat pump courses click here.

To find out more about the tariff click here.

References:

edf. (n.d.). edfenergy.com. Retrieved June 5, 2024, from https://www.edfenergy.com/heating/electric/air-source-heat-pump-tariff/trial