CASE STUDY: Main reasons why you should add a solar power plant to your heat pump

The family Kronovšek is one of the first users of a heat pump in combination with a solar power plant in Slovenia.

The father, Bogdan Kronovšek, is a developer by profession and this is the reason why their house is made in a very advanced way – low-energy, well insulated and using the latest technology for heating and heat recovery. As a source for heating, they chose a hybrid heat pump KRONOTERM MULTI S, one of the novelty models from the producer KRONOTERM. They also installed floor heating throughout the house.

 

 

The KRONO MULTI S heat pump comes from a family of hybrid heat pumps. One of their multi advantages is the possibility of using different heat sources and ultra-quiet operation – quieter than the operation of a household refrigerator. This new ecological and economical heating system uses a renewable source of air and soil to generate free energy. Read more HERE.

By adding a solar power plant to the house, the family also ensured production of their own electricity, which covers the entire energetic demand of the household.

Why did the family Kronovšek choose a combination of a heat pump and a solar power plant?

Their final decision to install a solar power plant was due to the sunny position of the house and the beneficial law regulations in the field of self-supply of electricity from renewable energy sources.

The investment in the solar power plant costed about 11,000 Euro. They also received a subsidy of 1,800 Euro from Eco Fund, the Slovenian environmental public fund. Resulting from the above, the nett investment was approx. 9,200 Euro. Finally, the family now saves about 1,200 Euro per year for the electricity costs (heating costs + electricity consumption in the household). Summarizing the data above, the family will have the investment returned in approx. 7 years. At the time the investment is returned, the heating costs and the costs of electrical consumption in the household will become the nett savings to the family.

By using this technology, the family not only saves their money, but also helps saving the environment. Using a combination of heat pump with solar power plant, they lower the CO2 emissions for about 5 tons per year, which is equivalent to saving 20 trees.

What is the approx. investment in hybrid heating with a solar power plant and what would be the savings for an average house not having the best insulation?

We attach an informative calculation for the investment in a heat pump with a combination of solar power plant for a house of approx. 180 m2 size, having average facade insulation.

The complete investment in the hybrid system of a heat pump and a solar power plant is estimated to about 20,000 Euro.

In such investments, the investor would also be entitled to about 5,000 Euro subsidy from Eco Fund for the investment. This is how the initial cost is now lowered to about 15,000 Euro per investment. In case the investor would decide to take out a consumer loan with one of the Slovenian banks, the monthly installment of the loan, in most banks (with a fixed interest rate), would be approx. 220 Euro per month (please contact your bank for an informative calculation). The good news is that the Slovenian Eco Fund also provides a subsidized loan for such investments. Thus, with the loan raised, the Slovenian Eco Fund could reduce the cost of the loan to the amount of the installment of 187 Euro per month, with the repayment period of 7 years (Source: Online information calculation on the Slovenian Eco Fund page). Of course, the payment of the loan installment would also include the consumption of monthly electricity, which would no longer have to be paid, and which in the average household, combined with heating with a heat pump, amounts to about 120 Euro per month.

Savings when replacing a fossil heating source with an environmentally friendly source of a Kronoterm heat pump in a combination with a solar power plant

Below we give an example of a costs and savings calculation for a house of 180-m2 size, which was previously heated with fuel oil and is now replaced with heating with a heat pump in combination with a solar power plant.

Before installing the KRONOTERM heat pump, the approx. annual cost of fuel oil for heating was about 2,500 Euro. However, if we distribute this cost to 12 months, the cost of heating at the monthly level is 209 Euro. According to this calculation, we can quickly assume that the cost of monthly heating with fuel oil is higher than the amount of the monthly loan installment when getting a loan from the Slovenian Eco Fund for the purchase of a solar power plant in combination with a heat pump.

After 7 years of loan repayment, only the maintenance cost would remain, thus, your house would be warmed up for free, and you would produce electricity for your household. At that time, your savings would be the amount of your monthly loan installment and the electricity bill at the same time.

What are the savings in upgrading the existing heat pump system with a solar power plant?

From the example in the Kronovšek family, it can be summarized that the annual savings after installing the solar power plant combined with the KRONOTERM heat pump are approx. 1,200 Euro per year – the annual cost of electricity consumed for heating, cooling and household use. According to the total investment, which amounted to 11,000 Euro or 9,200 Euro after receiving the subsidy from the Eco Fund, the investment (according to annual savings) will be repaid in approx. 7 years.