Public perceptions of finance options for retrofit shared-loop ground source heat pumps

Heat pumps are a key part of the UK Government's decarbonisation strategy to achieve net zero carbon emissions by 2050. Shared-loop ground source heat pumps (GSHPs) offer domestic space and hot water heating at scale in medium-to-high-density areas where standard single-dwelling heat pumps are unsuitable. However, it is unclear whether homeowners would be willing to pay for them. This paper explores public perceptions of three shared-loop GSHP financing models. We used focus groups to understand homeowners' responses to each finance model, refined the models, and tested them in an online survey of UK homeowners. We found that while there is potential interest in joining a shared-loop GSHP network, there was distrust because the financial offers were perceived as unfair, disadvantaging some customers, and not offering long-term financial savings compared with a gas boiler. The standing charge for the shared loop was a major barrier. There was a preference for the shared-loop GSHP to be offered by a utility company, a need for personalised financial projections, and the option to delay joining. Our results suggest that to increase uptake, greater certainty around future decarbonisation incentivisation strategies is needed, along with regulation of financial models. • Saving money is the biggest priority for homeowners considering a shared-loop GSHP. • People are unlikely to switch from their gas boiler without making cost savings. • Shared-loop GSHP agreements should be transparent, fair, and regulated. • Entering an agreement with a utility company is likely to increase uptake.