Research: which technology “warms” cheaper

A study by the Technical University of Athens (NTUA) showed that when using a heat pump, the cost of heat energy is obtained by almost 30% less than with a conventional fuel oil boiler.

Household investment in replacing an oil-fired boiler with another heating system such as a gas boiler, heat pump, etc. is at very high risk in this particular time period. This conclusion was led by a study by the National Technical University (Faculty of Mechanical Engineering), comparing heating costs in the winter season 2022-2023. between available technologies – boilers for liquid fuel, natural gas and biomass, heat pumps, closed and open chamber fireplaces.

With today’s data, the NTUA study, taking into account the cost of purchasing, installing and annually maintaining the technologies of natural gas boilers, heat pumps, biomass boilers, fireplaces (energy and open), concluded that the amortization of the above investments will last more than 20 years, t .e. exceed the design life of each technology, which is 15 years. This is due to the high prices per kilowatt-hour or firewood, respectively, and the great price volatility that distinguishes them.

However, the NTUA researchers note the fact that the heat pump is the only alternative heating system where the heat energy cost (€/kWh) for both zone B (Attica) and zone C (Thessaloniki) is of particular interest – it is less (0.09-0.10 EUR/kWh) than the equivalent of a conventional fuel oil boiler (0.156 EUR/kWh).

The NTUA study continued with a comparison of heating costs by technology. The scenarios he prepared took into account prices for electricity, oil and natural gas with government subsidies (October-November), heating quotas provided to eligible residential customers, purchase prices for biomass (pellets) and wood, and technology productivity factors.

Based on a baseline heating scenario in which the heat demand of an average household should be close to 3,000 kWh (thermal kilowatt-hours)/4 months or equivalent to 4,500 kWh/season (October 22 – March 23) and unit conversion of each fuel in kWh, the following is displayed:

• A heat pump in Zone B areas such as Athens costs households €0.09/kWh (useful heat energy). Thus, the total cost of heating is 405 euros. However, if we take into account the electricity needs (including 1200 kilowatt-hours) of the household, the cost rises to 894 euros.
• A heat pump in Zone C areas such as Thessaloniki costs 0.10 EUR/kWh. The total cost of heating is 450 euros. However, if we also take into account the need for electricity (including 1200 kilowatt-hours), then the total cost will be 945 euros.
• When using a conventional oil-fired boiler using fuel oil, the cost of heating is 0.154 euros, and the household will spend 693 euros during the season. For a family with two children, heating the house with fuel oil, living in Athens and eligible for the allowance, the cost is reduced to 0.107 EUR/kWh. She will spend 481.5 euros.
• For a household with two children that is heated by an oil boiler, lives in Thessaloniki and receives an allowance, the cost is reduced to 0.076 EUR/kWh. The total cost is 342 euros.
• Heating with a gas boiler for a household living in Athens will cost 0.194 EUR/kWh. In the winter season, it will spend a total of 873 euros.
• A family living in Thessaloniki will pay 0.175 euros/kWh for heating with a gas boiler and will spend a total of 787.5 euros.
• An energy fireplace costs 0.188 EUR/kWh. The total costs for the winter season are estimated at 846 euros.
• For those who are heated by a biomass boiler, the cost of heating with wood pellets is 0.197 EUR/kWh. So, the total cost is 886.5 euros.
• Electric heaters (stoves, radiators, air heaters, etc.) have a heating cost of 0.326 EUR/kWh. The total cost for the winter is 1467 euros.
• The classic open fireplace has a heating cost of 0.375 EUR/kWh. The total costs per season when using it will be up to 1687 euros.

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