The cost of a heat pump can vary from around €2,500 excl. VAT (minimum price for an air source heat pump) to around €24,000 excl. VAT (ground source heat pump), including heat pump installation.
This huge price range can be explained by a number of factors. The price of a heat pump depends on:
the surface area to be heated;
the layout of the rooms in the home;
the required heat output;
the heat source for the heat pump (e.g. air-to-air, geothermal, etc.);
the heat pump's thermal performance (its coefficient of performance or COP);
installation work.
The payback period varies just as much, depending not only on the type of heat pump and its COP, but also on the cost of installation work and whether or not solar panels are fitted. The average payback period for air source heat pumps is estimated at between 10 and 15 years. The most efficient models can reduce your energy bills by 30%, reduce your carbon footprint, and can pay for themselves more quickly (in 5 to 10 years in some cases).
Calling in specialists (don't hesitate to ask for several opinions and quotes) can help you choose the right heat pump and make energy-efficiency improvements to your home.
In any case, having a heat pump installed represents a significant budget.
"}},{"componentType":"sectionTitle","title":"What help is available to finance a heat pump?"},{"componentType":"paragraph","richBody":{"value":"Subject to certain conditions, you can benefit from public grants (such as the heat pump grants and the government's boiler upgrade scheme) for the purchase and installation of your heat pump. These funding vary according to the region where your home is located.
In Wallonia, Brussels, and Flanders, grants are available to help you finance the purchase and installation of a heat pump. However, such a renewable heat incentive is subject to means testing. Furthermore, they only partially cover the purchase cost of your heat pump.
If you are installing a heat pump as part of a retrofit project, you may, again, subject to certain conditions, be eligible for an interest-free loan from the government ( 0% loan) or a low-rate loan with monthly direct debit payments to help finance your heat pump costs.
Finally, you could opt for an energy loan for your heat pump.
"}},{"componentType":"sectionTitle","title":"Which loans are available for the installation of a heat pump?"},{"componentType":"paragraph","richBody":{"value":"As you can see, government grants are subject to a number of conditions. That's why you may wish to apply for a loan from a credit institution. Energy loans are available at attractive rates for heat pump installations. The ING Energy Loan (installment loan), for example, can finance your heat pump system.
"}},{"componentType":"sectionTitle","title":"Also consider!"},{"componentType":"cards","cards":[{"componentType":"productCard","cardType":"product","cardSize":"small","title":"Energy loan for renovations","intro":"Reduced-rate installment loan when at least 75% of your renovation are aimed at saving energy.","image":{"transformBaseUrl":"https://assets.ing.com/transform/a8e158f4-4dcd-48b3-8e6d-964f0c4c0f66/A-smiling-young-woman-stands-on-a-ladder-beneath-the-doorframe-holding-out-blue-cables-to-the-camera","type":"image","width":8268,"original":"https://assets.ing.com/m/6cae176aa2d05bb0/original/A-smiling-young-woman-stands-on-a-ladder-beneath-the-doorframe-holding-out-blue-cables-to-the-camera.jpg","extension":"jpg"},"link":{"url":"/en/individuals/borrowing/energy-loan-renovation"}},{"componentType":"productCard","cardType":"product","cardSize":"small","title":"Renovation loan","intro":"Installment loan to finance your house or apartment renovations.","image":{"transformBaseUrl":"https://assets.ing.com/transform/3955c2fa-36ae-4799-a7a2-00c51325793f/diy_renovation","type":"image","width":814,"original":"https://assets.ing.com/m/2299e5f3d09767a6/original/diy_renovation.jpg","extension":"jpg"},"link":{"url":"/en/individuals/borrowing/renovation-loan"}},{"componentType":"productCard","cardType":"product","cardSize":"small","title":"Solar panel funding for solar panel installation","intro":"Considering solar panel installation? Turn solar energy into savings by reading this article","image":{"transformBaseUrl":"https://assets.ing.com/transform/f1c3377c-2d86-4f52-a6e9-8fee2b981a87/Middle-aged-man-fixing-solar-panels-to-the-roof-of-his-house","type":"image","width":4096,"altTextEN":"Middle aged man fixing solar panels to the roof of his house","altTextNL":"Man van middelbare leeftijd bevestigt zonnepanelen op het dak van zijn huis","altTextFR":"Homme d'âge moyen fixant des panneaux solaires sur le toit de sa maison","original":"https://assets.ing.com/m/5ef1bf5d616359d1/original/Middle-aged-man-fixing-solar-panels-to-the-roof-of-his-house.jpg","extension":"jpg"},"link":{"url":"/en/individuals/borrowing/home/solar-panel-funding-finance"}}]},{"componentType":"paragraph","title":"Sources:","richBody":{"value":"https://environnement.brussels/blog-pro/podcast/les-pompes-chaleur-economiques-et-ecologiques
https://environnement.brussels/citoyen/lenvironnement-bruxelles/renover-et-construire/la-pompe-chaleur-fer-de-lance-de-la-transition-energetique
The amount that you are likely to be able to borrow, as stated in the advertising message, is communicated for information purposes only. Neither the granting of the loan nor the aforementioned amount are guaranteed by ING Belgium. To determine the amount thus simulated, we took into account a set of data currently known to ING, in particular: your financial situation (i.e. your income and any extra-legal benefits as well as your expenses on your ING accounts as well as your savings, loans and investments with ING), your personal and family situation known to ING (in particular, your age, your personal status, your dependents) and the fact of exercise an independent activity. On the other hand, it is not required to provide the following information (which will be requested and/or verified in the event of a credit application on your part), in particular: your professional situation, the type of residence you occupy, other expenses or income not known to ING or futures, your savings and investments with ING, as well as credit data with third parties consulted with the National Bank of Belgium.
This advertising message, which concerns an installment loan for private purposes subject to consumer credit legislation, does not constitute an offer of credit. It is intended exclusively for natural persons of legal age and any request for credit is made subject to prior acceptance of your file by ING Belgium and mutual agreement. The general conditions and rates for this loan are available from all ING branches and can be consulted on www.ing.be (section 'Rates and regulations'). Your request and the possible approval of your request by ING (after examination of your file by ING) in a branch or through the 'Consumer Loans Online' service on www.ing.be, do not commit either ING or yourself, as long as you have not signed a credit agreement at your ING branch or, in the case of an online request, as long as you have not returned the signed credit agreement (after prior approval of your file by ING) to ING, where it is checked beforehand whether the data provided in the request are accurate and complete (among other things, on the basis of the documents submitted or to be submitted).
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This information is provided for information purposes only and is valid on the date of publication of this article on the ing.be website, i.e. 25/04/2024.
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