Heat Pump Conversion Potential Assessment Tool v3.1

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.

Tab	Description
Initial Review	Quick preliminary evaluation — key parameters only
Technical Inputs	Detailed heat source, heat sink & performance parameters
Financial Inputs	CAPEX, OPEX, subsidies, and payback targets
Feasibility Outputs	Technical & financial results, scoreboard, recommendations

Technical Terminology

Term	Definition
Heat Source	System or unit operation from which heat is lost and can be recovered
Heat Sink	System or unit operation which gains / requires heat
Heat Medium	Fluid (water, air or flue gas) which transfers heat from (source) or to (sink) an end use
Temperature Lift	Temperature difference between the heat source out and the heat sink in
COP	Coefficient of Performance — heat supplied by heat pump divided by work input
GWP	Global Warming Potential (of refrigerants)
Spark Ratio	Ratio 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

Factory / Site Name

Industry / Field

Location / Country

Currency

Temperature Unit

Fuel Type (Current Heat Source)

Purchase Green Electricity?

Energy Costs

Fuel Cost (₫/kWh) Average variable fuel cost per kWh

Electricity Cost (₫/kWh) Exclude standing charges / non-commodity

Fuel Emissions Factor (kgCO₂e/kWh) Auto-filled from fuel type & country

Location-based Elec. EF (kgCO₂e/kWh)

Market-based Elec. EF (kgCO₂e/kWh) = 0 if green electricity certified

Spark Ratio Elec cost ÷ Fuel cost. If < COP -> project viable

Heat Pump Conversion Parameters

Current Heat System Efficiency (%) Overall system efficiency incl. heat losses

Temperature Required (°C) Max 150°C for this tool

Heat Source Temperature (°C) Available waste heat temperature

Temperature Lift (°C) = Sink temp - Source temp

Heat Pump Technology Type

Optional Site Inputs (for detailed energy estimates)

Total Site Fuel Demand (kWh) Total annual site fuel consumption

Heat to be Supplied by HP (kWh) How much heat will the HP provide?

Heat Available for Recovery (kWh) 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)

Source Application

Application Medium

Specific Heat Capacity (kJ/kg·K)

State Change?

Average Source Return Temp (°C) Typical: 0-40°C for waste water/cooling

Average Source Flow Temp (°C) Temperature of waste heat stream

Heat Availability

Annual Heat Available (kWh/yr)

Heat Sink (User of Heat)

Sink Application

Application Medium

Specific Heat Capacity (kJ/kg·K)

State Change?

Average Sink Flow Temp (°C) Temperature delivered to end user

Average Sink Return Temp (°C)

Heat Demand Nature

Annual Heat Required (kWh/yr)

Technology & Performance

Technology Type

2nd Law Efficiency (η) Default: 0.46 (industry standard)

Temperature Approach (°C) 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

Desired Payback Period (yr)

Current Fuel Cost (₫/kWh) Synced from Initial Review

Current Electricity Cost (₫/kWh)

Include Cost of Carbon?

Carbon Cost (₫/tCO₂e)

GBP Conversion Rate (1 GBP = ₫) CAPEX base figures are in GBP

Subsidy Information

One-off Capital Subsidy (₫) Leave 0 if no capital grant available

Ongoing Production Subsidy?

Ongoing Subsidy Value (₫/yr)

CAPEX Parameters

User-defined Total CAPEX (₫) If known; enter 0 to use calculated estimate

Heat Pump Size (kW) Calculated from technical inputs

HP CAPEX Estimate (₫/kW) Base CAPEX per kW installed. Adjust as needed.

Systems Integration Complexity Scaling factor applied to HP CAPEX for integration cost

Automation & Control Complexity

Civils & Installation Complexity

Thermal Storage Required?

Storage CAPEX (₫)

Avoided CAPEX (₫) Capital avoided by implementing HP (e.g., boiler replacement deferred)

OPEX Parameters

Maintenance Estimate (%/yr of CAPEX)

Maintenance (₫/yr) [calculated]

Avoided OPEX (₫/yr) e.g., maintenance no longer needed on old boiler

CAPEX Breakdown (Calculated)

Component	Factor	Value (₫)	Notes
Heat Pump Equipment	1.0×	—	HP size × CAPEX/kW
Systems Integration	0.5×	—	Pipework, heat exchangers
Automation & Control	0.5×	—	Controls integration
Civils & Installation	1.5×	—	Civil works
Thermal Storage	—	0	If required
Total Calculated CAPEX		—
TOTAL CAPEX USED		—	User-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 Range	Payback (yr)	Score	Feedback