HEAT PUMP CONVERSION POTENTIAL ASSESSMENT TOOL

Industrial Process Heating · Feasibility Analysis · Version 3.1

Field:
Model v3.1 · 2026

Purpose & Guide

This tool supports preliminary feasibility assessment of projects transitioning to heat pump technology. It analyses conditions influencing the performance and capacity of heat pumps, providing a basis for developing a financial model for investment analysis.

TabDescription
Initial ReviewQuick preliminary evaluation — key parameters only
Technical InputsDetailed heat source, heat sink & performance parameters
Financial InputsCAPEX, OPEX, subsidies, and payback targets
Feasibility OutputsTechnical & financial results, scoreboard, recommendations

Technical Terminology

TermDefinition
Heat SourceSystem or unit operation from which heat is lost and can be recovered
Heat SinkSystem or unit operation which gains / requires heat
Heat MediumFluid (water, air or flue gas) which transfers heat from (source) or to (sink) an end use
Temperature LiftTemperature difference between the heat source out and the heat sink in
COPCoefficient of Performance — heat supplied by heat pump divided by work input
GWPGlobal Warming Potential (of refrigerants)
Spark RatioRatio of electricity cost to fuel cost. If < COP, project likely payback positive

Cell Legend

Green input — required user input Blue — calculated / read-only output Yellow — pre-populated formula (can overwrite)

Site Basic Parameters

Energy Costs

Average variable fuel cost per kWh
Exclude standing charges / non-commodity
Auto-filled from fuel type & country
= 0 if green electricity certified
Elec cost ÷ Fuel cost. If < COP -> project viable

Heat Pump Conversion Parameters

Overall system efficiency incl. heat losses
Max 150°C for this tool
Available waste heat temperature
= Sink temp - Source temp

Optional Site Inputs (for detailed energy estimates)

Total annual site fuel consumption
How much heat will the HP provide?
Waste heat available from source

Project Feasibility Outputs

COP Required for OPEX Parity
Expected COP
OPEX Saving (%)
Carbon Impact — Location Based (%)
Carbon Impact — Market Based (%)

Impact on Total Site Fuel Demand
Waste Heat Required (kWh/yr)
Electricity Required (kWh/yr)
Estimated Fuel Saving (kWh/yr)
Estimated Net Energy Saving (kWh/yr)
Estimated OPEX Saving
OPEX Saving0%
Carbon Reduction0%
Expected COP0

Heat Source (Provider of Waste Heat)

Typical: 0-40°C for waste water/cooling
Temperature of waste heat stream

Heat Sink (User of Heat)

Temperature delivered to end user

Technology & Performance

Default: 0.46 (industry standard)
HX approach temp for evap & condenser

TEMPERATURE LIFT
— K
CALCULATED COP
HEATING CAPACITY (kW)
CASCADED COP (2-stage)
⚠️ When large temperature lifts cause unfeasible COPs, a two-stage (cascaded) heat pump should be considered to improve OPEX (with a CAPEX penalty).

Refrigerant Reference (COP Lookup — R243fa)

COP table for R243fa refrigerant (suitable for high-temp applications up to 150°C). Rows = Condensing temp Tc (°C), Columns = Evaporating temp Te (°C).

General Financial Parameters

Synced from Initial Review
CAPEX base figures are in GBP

Subsidy Information

Leave 0 if no capital grant available

CAPEX Parameters

If known; enter 0 to use calculated estimate
Calculated from technical inputs
Base CAPEX per kW installed. Adjust as needed.

Scaling factor applied to HP CAPEX for integration cost
Capital avoided by implementing HP (e.g., boiler replacement deferred)

OPEX Parameters

e.g., maintenance no longer needed on old boiler

CAPEX Breakdown (Calculated)

ComponentFactorValue (₫)Notes
Heat Pump Equipment1.0×HP size × CAPEX/kW
Systems Integration0.5×Pipework, heat exchangers
Automation & Control0.5×Controls integration
Civils & Installation1.5×Civil works
Thermal Storage0If required
Total Calculated CAPEX
TOTAL CAPEX USEDUser-defined if entered, else calculated
Expected COP
Coefficient of Performance
OPEX Saving
% reduction in operating cost
Carbon Reduction
% CO₂e reduction (location-based)
Simple Payback
Years

Performance Outputs

Technology Type
Temperature Lift (K)
2nd Law Efficiency
Carnot COP
Operating COP
Cascaded (2-stage) COP
Heating Capacity (kW)

Natural Gas Displaced (kWh)
HP Electricity Required (kWh)
Backup Fuel Required

Emissions Reduction

LOCATION BASED
Current yearly emissions (tCO₂e)
Yearly emissions after HP (tCO₂e)
Emissions reduction (tCO₂e)
% of site emissions reduced

MARKET BASED
Emissions reduction (tCO₂e)
% of site emissions reduced

Financial Outputs

CAPEX SUMMARY
Total CAPEX
Capital Subsidy
Net CAPEX

ANNUAL OPEX
Annual Fuel Saving
Additional Electricity Cost
HP Maintenance Cost
Avoided OPEX
Carbon Cost / Saving
Ongoing Subsidy
NET ANNUAL SAVING

Simple Payback Period
Target Payback Period
Payback vs Target

Scoreboard

/ 100
Complete all inputs to see score
#COP RangePayback (yr)ScoreFeedback