Levelised cost of heating in selected cold climate countries

Notes

Notes: Air‐to-air = air‐to‐air heat pump; Air‐to-water = air‐to‐water heat pump; Gas = gas condensing boiler. The levelised cost of heating estimates the average cost of providing 1 MWh of heating over the lifetime of the equipment, considering the capital cost of the equipment and installation; operating expenditures include the cost of fuel and regular maintenance. The analysis assumes heating degree days of one representative, cold‐climate city in each representative country, then uses average energy prices in that country. For cold climates, we use Toronto, Seoul, Berlin and Edinburgh. Medium market prices for the equipment and projected fuel costs under the APS have been used. A lifetime of 17 years is assumed for gas boilers, 15 years for air‐to‐air and 18 years for air‐to‐water heat pumps.