Electricity Costs Drive Growth of Heat Pump Markets in Europe
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UK: Cost-effective electricity is crucial for driving strong heat pump adoption in Europe, according to data from the European Heat Pump Association (EHPA). In many countries, gas prices remain artificially low due to government subsidies and exemptions from carbon taxes, making electricity comparatively more expensive. Data published by EHPA, covering six-month periods since 2021 – show there was a short-lived change around the 2022 energy crisis, when gas was more expensive. That contributed to a record year for heat pump sales.
Source: European Heat Pump Association (EHPA)