Heat pumps are a popular and energy-efficient solution for heating and cooling homes and businesses. But how much does a heat pump cost to run? Understanding the operating costs can help you make an informed decision about installing a heat pump system. In this article, we’ll explore the factors affecting heat pump running costs, average expenses in New Zealand, and how you can save on energy bills.

Understanding Heat Pump Operating Costs

The running cost of a heat pump depends on several factors, including the size of the unit, energy efficiency, local electricity rates, and how frequently you use it. Generally, heat pumps are one of the most cost-effective ways to heat and cool a property because they transfer heat rather than generate it.

Key Factors That Affect Running Costs

  1. Heat Pump Efficiency – The efficiency of a heat pump is measured by the Coefficient of Performance (COP) and Seasonal Energy Efficiency Ratio (SEER). A higher rating means better energy efficiency and lower costs.
  2. Electricity Prices – In New Zealand, electricity costs vary depending on your provider and region. On average, electricity costs range from $0.25 to $0.35 per kWh.
  3. Climate and Usage – Colder regions may require more heating, leading to higher energy consumption.
  4. Insulation Quality – A well-insulated home retains heat better, reducing the amount of work your heat pump needs to do.
  5. Size and Model – Choosing the right size for your space ensures that the heat pump operates efficiently.

Average Cost to Run a Heat Pump in New Zealand

Running Costs Based on Usage

The average heat pump uses around 1-2 kWh of electricity per hour, depending on its size and efficiency. Based on New Zealand electricity prices, here’s an estimate of heat pump operating costs:

  • Low usage (4 hours per day): $1 – $2 per day or $30 – $60 per month.
  • Moderate usage (6 hours per day): $1.50 – $3 per day or $45 – $90 per month.
  • High usage (continuous operation): $4 – $8 per day or $120 – $240 per month.

These figures are approximate and can vary based on climate, home insulation, and energy plan rates.

Comparing Heat Pumps to Other Heating Options

Heat pumps are significantly more efficient than traditional heating methods such as electric heaters, gas heating, or wood burners. For example:

  • Electric heaters: Typically cost 3-4 times more to run than a heat pump for the same heating output.
  • Gas heating: Can be more expensive, especially with fluctuating gas prices.
  • Wood burners: Provide good heating but require ongoing fuel costs and maintenance.

How to Reduce Heat Pump Running Costs

  1. Choose the Right Size and Model – A properly sized unit ensures efficient heating and cooling. Consulting professional heat pump installers can help determine the best option for your space. Learn more about expert installation here.
  2. Use Smart Thermostat Settings – Setting your heat pump to a consistent temperature (e.g., 18-22°C for heating) prevents excessive energy use.
  3. Regular Maintenance – Cleaning filters and servicing the unit annually keeps it running efficiently.
  4. Improve Home Insulation – Well-insulated walls, ceilings, and windows reduce heat loss and lower energy consumption.
  5. Use the Timer Function – Scheduling heating and cooling to operate only when needed helps reduce waste.
  6. Utilise Curtains and Blinds – Closing curtains at night traps heat inside, while opening them during the day allows natural warmth to enter.

Installation Considerations

When installing a heat pump, factors to consider include:

  • Location – Proper placement improves efficiency and airflow.
  • Professional Installation – Working with experienced heat pump installers ensures optimal performance. Learn more about trusted installation services here.
  • Type of Heat Pump System – Options include high-wall units, floor consoles, and ducted systems, each suited to different spaces.

Contact the Experts

If you’re wondering how much a heat pump costs to run, the answer depends on usage, efficiency, and electricity rates. However, heat pumps remain one of the most cost-effective heating and cooling solutions in New Zealand. By choosing an energy-efficient model, maintaining it properly, and optimising usage, you can keep running costs low while enjoying year-round comfort.

For expert advice and professional heat pump installation, consider contacting Positive Electrical. Their team specialises in installing high-quality heat pump systems tailored to your needs. Learn more about their services here.