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Households can get £5,000 grant offers to upgrade boilers and cut bills from TODAY

The Boiler Upgrade Scheme is part of a £450m fund being made available by the Government to encourage households to switch to heat pumps. But how much does a heat pump cost and save you money?

Households are encouraged to swap their boilers for heat pumps
Households are encouraged to swap their boilers for heat pumps

Homeowners in England and Wales can now apply for a one-off grant of £5,000 to replace their gas boiler after a new scheme opened today.

The Boiler Upgrade Scheme is part of a £450m fund being made available by the Government to encourage households to switch to heat pumps.

It’s part of plans to make more homes greener, with heat pumps seen as the cheapest option to replace gas boilers.

They essentially work like an inverted refrigerator, with these devices extracting heat from the air, ground, or water.

But of course, one of the biggest stumbling blocks for many homeowners is that heat pumps don’t come cheap to install.

How the energy bill crisis is affecting you

The Energy Saving Trust estimates that a heat pump can cost between £6,000 and £8,000, while MoneySavingExpert puts the figure at a higher figure of up to £12,000.

This means you may have to pay an additional £1,000 to £7,000 on top of the installation grant.

How to apply for the boiler upgrade program

Through the Boiler Upgrade Scheme you can claim a £5,000 rebate on the cost and installation of an air source heat pump or biomass boiler.

Homes that require heat pumps, where heat is drawn from the ground, will receive £6,000.

The program is to finance a total of 90,000 systems and will run until the end of March 2025.

Are you afraid to pay your energy bills? Let us know: mirror.money.saving@mirror.co.uk

Government ministers have set a target of phasing out installation of traditional gas boilers from 2035 as part of a broader strategy to become net zero by 2050.

To apply for the Boiler Upgrade Scheme you must live in England or Wales and be the owner of your property.

The property must have an installation capacity of up to 45 kWth and a valid Energy Performance Certificate (EPC) with no outstanding recommendations for attic or cavity wall insulation.

You may still be able to apply if you have an isolation exemption.

You don’t apply for the Boiler Upgrade Scheme grant yourself – instead you need to find an MSC certified installer to apply for the grant on your behalf.

Homeowners can find the cheapest and closest retailer on the MSC website – be sure to compare prices to get the best deal.

Once you agree on a price, the installer applies for the grant. You will then be contacted by Ofgem to confirm that the work will be carried out on your behalf.

You can start getting quotes today as the heating system’s commissioning date must be on or after April 1st to be eligible for the program.

Your installer will then need to register with Ofgem on April 11th and the program will be open for applications and payments from May 23rd.

Do you save energy costs with a heat pump?

Yes, according to experts from the Energy Saving Trust, a heat pump is likely cheaper to run than a traditional gas boiler.

“Heat pumps are about three to four times more efficient than boilers because they give off a lot more heat than the electricity they use to run,” they explained.

“Even if electricity is currently a lot more expensive than gas or oil, the running costs often have a similar effect due to the higher efficiency.

“And if you replace an old and inefficient system, your bills could drop dramatically.

“We estimate that by replacing an old gas boiler (G classification) with an air source heat pump, for example, you could save up to £375 a year on heating bills (based on an average sized four bedroom UK detached house).”

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https://www.mirror.co.uk/money/households-can-quotes-5000-grants-26612367 Households can get £5,000 grant offers to upgrade boilers and cut bills from TODAY

Fry Electronics Team

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