Investigation of the economic aspects of air source heat pump usage for Izmir province

Abstract

The economic analyses of air source heat pump usage in İzmir was conducted. Effect of heating
 water temperatures and electricity tariffs on the energy economy were investigated by using
 hourly outdoor temperature data of İzmir. Single- and multi-rate electricity tariffs for a residence
 in İzmir province were compared. Preferring the multi-rate electricity tariffs in air source heat
 pump results in decrease of heating costs. If the energy consumption is priced using a multi-rate
 tariff, the energy cost will be reduced by 20%. There is a lower temperature requirement for
 underfloor heating compared to conventional heating. Energy costs in underfloor heating can be
 lowered compared to natural gas. The hybrid system (Heat pump + natural gas), which allows
 to use the most economical energy source on an hourly basis, can save 24% compared to the use
 of only natural gas.