Latest news with #heatPumps
Irish Times
15 hours ago
- Business
- Irish Times
Homeowners can ‘save more than €3,500 a year' with energy-efficient technology
Homeowners using energy-efficient technologies such as solar panels, heat pumps and electric-vehicle home chargers can save more than €3,500 a year, a report says. As well as reporting big savings, people who have taken the most energy-efficient approach to their homes say they get additional benefits including enhanced levels of comfort, according to Electric Ireland's sustainability index. Despite the benefits, however, a significant portion of the population feel unable to invest in such technologies due to the upfront costs and a lack of clear guidance. A total of 13 per cent of those who took part in the survey said they had solar panels installed; 11 per cent owned heat pumps and 7 per cent had EV chargers. READ MORE Respondents said there were clear cost benefits to these new technologies. Householders generating energy through solar panels reported perceived savings averaging €91 a month on energy bills. Those with heat pumps said they saved an average of €77 monthly. EV owners reported average savings of €128 a month on fuel costs. The cumulative monthly savings for people with all three technologies comes in at €296 monthly or €3,552 over a year. While financial savings were listed as the leading benefits, some respondents also spoke of additional benefits: 60 per cent of heat pump owners said their homes were more comfortable as a result and 46 per cent said convenience was another benefit. Despite benefits of such technology, the Electric Ireland sustainability index shows that willingness to make the switch to more energy-efficient technologies remains low beyond the early adopters. For those who have yet to make any home energy-efficiency upgrades, few have active plans to do so. Just 22 per cent are considering solar panels with only 12 per cent considering heat pumps or EV chargers. The most commonly cited barrier is cost, with nearly 60 per cent saying the upfront cost was a key deterrent. 'What Electric Ireland's new sustainability index reveals is that the long-term benefits of more energy-efficient technologies are clear – but the upfront costs can be challenging' Electric Ireland's Noeline Gibbons said. She said the average cost of a solar PV system was €8,000 to €10,000 and when SEAI grants were included most households saw a return on investment within four to six years. 'We are acutely aware that many families and individuals want to start the energy transition, but struggle with upfront costs and a lack of information,' she said. Beyond cost concerns, others reported that the process of accessing grants felt like too much hassle or said they were unsure if the investment would pay off in the long term. Ms Gibbons said a lack of information and the ease of sticking to current habits were also noted by some as factors holding people back. Awareness of available grants was limited with less than 40 per cent familiar with government support schemes. 'Our sustainability index show that many consumers who are considering switching to more sustainable energy lifestyles simply don't know where to begin – and the range of options can feel complex and daunting so there is a clear need for simple accessible information,' Ms Gibbons said. The sustainability index was conducted by Red C Research between April 2nd and April 10th, with a nationally representative survey of 1,026 adults.
Associated Press
a day ago
- Business
- Associated Press
Go Green Heating & Air Conditioning Urges Colorado Homeowners to Take Immediate Advantage of Heat Pump Incentives
Eligible Residents Can Access Up to $12,000 in Rebates and Tax Credits for Energy-Efficient Upgrades DENVER, CO / ACCESS Newswire / June 19, 2025 / Go Green Heating & Air Conditioning is urging Colorado homeowners to take advantage of financial incentives available for upgrading to high-efficiency heat pump systems. With a robust combination of state, federal, and utility incentives, eligible homeowners may receive up to $12,000 in rebates and tax credits toward the installation of a qualifying system. The available incentives include: Incentive and rebate amounts referenced are maximums and may vary based on system type, size, contractor, and household eligibility. All incentive programs are subject to change, and funding is limited. For the most accurate and up-to-date information, please consult the Colorado Energy Office, Xcel Energy, or the IRS. Strategic Importance for Colorado's Energy Future These rebate programs support larger statewide efforts to cut residential emissions and promote energy-efficient technologies. By upgrading to high-efficiency heat pumps, Colorado homeowners have the opportunity to decrease their energy use, lower utility costs, and support Colorado's environmental and sustainability targets. Technical and Financial Advantages of Heat Pumps Heat pumps offer a dual function, heating and cooling from a single system. This technology is particularly well-suited to Colorado's climate, thanks to modern advancements that maintain efficiency even during colder months. For homeowners, the benefits extend beyond utility savings. High-efficiency systems may increase property values and appeal to environmentally conscious buyers. Go Green Heating & Air Conditioning, based in Denver and recognized as an approved Xcel Trade Partner, assists homeowners in identifying eligible systems, navigating rebate requirements, and coordinating compliant installations. Interested readers can learn more by visiting About Go Green Heating & Air Conditioning Go Green Heating & Air Conditioning is a Denver-based HVAC company focused on top-rate service, technical precision, and long-term value. Recognized as a Gold Star Award Winner and maintaining an A+ rating with the Better Business Bureau of Colorado, Go Green is N.A.T.E. Certified and committed to honest pricing and customer satisfaction. Contact InformationZachary Whiteley Go Green Heating & Air Conditioning 303-919-9292 SOURCE: Go Green press release
CBC
30-05-2025
- Business
- CBC
P.E.I.'s energy-saving rebate changes will let infrastructure catch up by slowing demand, some say
A company in P.E.I.'s solar panel industry says the province is putting jobs at risk by cutting a homeowner rebate in half. But some, like Trevor Leeco of Centennial Nissan (shown) say it's good to put the brakes on encouraging the sale of heat pumps and electric cars, at least until the Island charging network and power grid catch up with demand. CBC's Sheehan Desjardins reports.
Yahoo
14-05-2025
- Business
- Yahoo
Has Maine learned how to make heat pumps lower electricity costs for all?
Maine's new energy-efficiency plan is projected to lower electricity bills for the state's residents — even those who don't directly benefit from its rebate and incentive programs. The plan, set to go into effect in July, is heavily focused on getting electric heat pumps in as many homes as possible. It comes as other states debate rolling back efficiency programs funded by utility customers as a short-term fix to rising energy prices. Maine's strategy takes the opposite approach: It leverages investments in efficiency and electrification to lower rates for everyone. 'This is bucking the trend,' said Michael Stoddard, executive director of Efficiency Maine Trust, the agency that administers the state's energy-efficiency plans. 'This is our pathway to managing electricity prices while also transitioning the consumers of our state to the highest-efficiency, lowest-polluting equipment that is available.' Maine has been an aggressive adopter of home heat pumps in recent years. In 2019, the state set the goal of deploying 100,000 heat pumps by 2025, a target it blew by two years ahead of schedule. The state now aims to get another 175,000 heat pumps up and running by 2027. Maine is also a member of a five-state coalition that is collaborating to boost heat pump adoption, lower prices, and train installers throughout New England. The state's new energy-efficiency plan is geared toward continuing this progress. It is centered largely on the idea of 'beneficial electrification,' a somewhat jargony term that refers to switching from fossil fuels to electricity wherever the move would save money and cut emissions. There are plenty of opportunities to make that swap in Maine, where roughly half of households keep warm with heating oil, which can be pricey and inefficient. Over the next three years, the incentives in the plan are forecast to support 38,000 new whole-home residential heat pump systems — including 6,500 in low-income households — and weatherization for 9,900 houses. A low-income household can get rebates of up to $9,000 for heat pump installations, and homes at high income levels qualify for up to $3,000. The incentives do not offer any money for residential fossil-fuel-burning equipment. This strategy should decrease annual heating costs by more than $1,000 each for homes that switch to heat pumps from oil, propane, or electric baseboard heat, but it is also expected to lower electricity prices across the board, Stoddard said. Efficiency Maine Trust estimates the plan will suppress electricity rates by more than $490 million over the long term. How? Utilities have certain fixed costs, such as maintaining power lines. To pay for them — and this is a bit of a simplification — they essentially divide the expense by the amount of power they expect customers to use in a year, and add that number to the rate they charge per kilowatt-hour. When more heat pumps come online, power demand goes up, so the fixed costs are spread out over more kilowatt-hours, lowering bills for the average consumer. Accomplishing that effect depends on finding ways to make sure much of the added demand occurs during off-peak hours, when there is plenty of room for more power to flow along the lines without building out more infrastructure and thus increasing the utilities' fixed costs. To achieve this timing, Maine's plan includes demand-response programs that pay consumers for using less energy at peak times, an incentive for low-income residents to buy electric vehicles with chargers that can be set to work at off-peak times, and other measures. 'We've already invested a lot of money in the grid, and yet it sits largely unused for many hours of the day,' Stoddard said. 'If we can find ways to manage consumption so that it is occurring during off-peak periods, then it will maximize the use of the grid infrastructure and spread the fixed costs of the utility across many more kilowatt-hours.' Maine's plan also includes an innovative program that calls for Efficiency Maine Trust to negotiate with retailers and distributors for discounted prices on electric water heaters and for agreements to keep the equipment in stock. The strategy is particularly effective at getting people to switch from fossil-fuel water heaters in moments when their old equipment has failed and they are searching for an affordable, easily available replacement, said Erin Cosgrove, director of policy and programs for the nonprofit Northeast Energy Efficiency Partnerships. 'This program is unique for the Northeast,' she said. More states have prioritized electrification in their efficiency programs in recent years, said Mark Kresowik, senior policy director for the research group American Council for an Energy-Efficient Economy. Massachusetts, for example, phased out its incentives for oil and gas equipment last year, and Washington, D.C., has also eliminated rebates for fossil-fuel-powered systems and appliances. 'What a lot of programs across the country are doing is recognizing that providing incentives for fossil-fuel-based systems doesn't achieve their goals,' he said. 'Most of the leading states are prioritizing efficient electric appliances like heat pumps going forward.' Energy-efficiency programs have traditionally centered the big-picture goal of helping consumers lower their energy use to save money and reduce greenhouse gas emissions, whether that energy comes from an oil-delivery truck, a natural gas pipe, or over power lines. Amid rising concern about climate change, however, more states have looked for ways to amplify the emissions impact of their programs. The solution has been to limit or eliminate incentives for fossil-fuel equipment and lean into electrification, which can often save consumers money and almost always reduce the emissions associated with heating and cooling their homes. 'When you use those additional metrics, you realize some of those old measures don't make sense anymore,' Kresowik said.
