European heat pump sales are collapsing
(EurActiv, 14 Dec 2023) Quarterly sales figures of heat pumps in Europe are in a slump amid a 14% drop compared to last year’s quarter, which the industry says was caused by political uncertainty and dropping gas prices.
Energy used in heating and cooling the EU’s more than 100 million buildings represents almost 50% of the bloc’s final energy consumption. Heat pumps are expected to contribute the lion’s share of reducing demand and associated greenhouse gas emissions.
There is just one problem: sales of the magical technology that turns one unit of power into three of heat by concentrating ambient energy are down 14% compared to the same quarter in 2022 across the EU’s biggest markets.
In the third quarter of 2022, some 565,000 heat pumps were sold in Europe. One year down the line, that figure has dropped to some 485,000 or by 14%. The biggest drops were recorded in Finland and Denmark, traditionally strong markets.
Strong sales figures in Germany at 120,000 and the Netherlands at 38,000 propped up the quarterly result for the market.