Free tool

Heat Pump vs Oil Cost Calculator

Compare annual heating costs and calculate your payback period with published Irish fuel rates.

The installed-cost default is a historical manual estimate, not a current quote. Enter your own quoted cost and tariff before making a decision.

Your Home

Annual heat demand (kWh)

Typical Irish home: 12,000–18,000 kWh/yr

Oil boiler efficiency (%)

85%

Modern condensing boiler: 88–92%

Kerosene rate (c/kWh)

SEAI discounted rate: 11.72 c/kWh

Heat Pump Settings

Heat pump SPF (Seasonal Performance Factor)

3.5

Well-insulated home: 3.5–4.5. Older home: 2.5–3.5

Electricity rate (c/kWh)

SEAI Band DD (high usage): 34.38 c/kWh

Use night rate for heat pump

Installation Cost

Installed cost (€)

Enter your complete installed quote before grant.

SEAI grant (€)

Max: €12,500 (unit + central heating + renewable bonus)

Annual heating cost

Oil boiler —

— litres kerosene

Heat pump —

— electricity

Annual saving

—

per year

Net cost

—

after grant

Payback

—

years

Cost per kWh of heat delivered

Oil boiler (effective cost/kWh) —

Heat pump (effective cost/kWh) —

Note: The heat pump grant figures above reflect switching from oil (unit + central heating system + €4,000 renewable bonus). You may qualify for more if you also upgrade insulation. Check your full grant eligibility →

Running costs only. Capital cost and grant are shown separately above. Kerosene energy content: 10.35 kWh/litre. Calculations based on SEAI Domestic Fuel Cost Comparison data for 2026.

Sources and dates for these figures

Electricity Band DD (5,000–15,000 kWh/yr, incl. VAT) — SEAI Domestic Fuel Cost Comparison: automatically collected; source date 2026-07-01.
Kerosene heating oil — discounted rate — SEAI Domestic Fuel Cost Comparison: automatically collected; source date 2026-07-01.
Air-to-water heat pump (unit cost) — SEAI: manually researched; source date 2026-09-22.
Central heating system for heat pump — SEAI: manually researched; source date 2026-09-22.
Renewable heating system bonus — SEAI: manually researched; source date 2026-09-22.
Air-to-water heat pump — 3–4 bed retrofit installed (low estimate) — SEAI / industry research: manually researched; source date 2026-06-12.

A daily refresh attempt does not mean every source has changed. If a source cannot be read, we keep the last available figure. How we research and update the site.