The heat pump engine picks up steam. While the proverb does not work for a modern electric technology, the underlying message holds true. For the fourth year in a row, our market outlook and statistics review, reveals a growing market. Benefiting from a favorable construction sector and an increasing appetite for renewable energy and energy efficiency, the EU heat pump markets have grown by 9%, with nearly 1.1 million heat pumps sold. As not all markets have reported their data, this statement is preliminary, but since the top 10 markets have all grown, the positive trend is a robust one.
Our report shows that just in 2017, 1 million (1.087.423) HPs contributed to:
- Storage capacity: 37 GW
- Useful heat generated: 16.9 TWh
- Renewable energy: 10.6 TWh
- Auxiliary electricity used: 6.3 TWh
- CO2 emissions saved: 2.7 Mt
- Final energy saved: 13.6 TWh
The total installed stock has, by now, reached 10.5 million HPs. It contributes the following to the European energy and climate targets:
- Storage capacity: 368 GW
- Useful heat generated: 181 TWh
- Renewable energy: 116 TWh
- Auxiliary electricity used: 65 TWh
- CO2 emissions saved: 29.8 Mt
- Final energy saved: 148 TWh
Experts predict an ongoing future growth of around 10% annually. In turn, installed stock will double within the next 6-7 years and a second time by around 2030. This organic growth will result in a 36% cost reduction by 2030. If additional technology development kicks in and market framework conditions are adjusted, cost reduction rates will occur sooner.
With it, comes the need for manufacturing capacity enlargements and investments in R&D infrastructure. Imagine that the annual market growth reflects the combined sales of Germany, Austria and Switzerland – such additional numbers require more trained planners, architects and installers, a challenge that industry and Member States have to tackle via public and private investment.
However, even the current high level of heat pump advancement on European markets won’t be fast enough to decarbonise heating and cooling sector. Therefore, we hope that the outcome of our report will inspire an update of expectations and will result in higher and more ambitious targets, on the side of both the policy makers and the industry.
In order to boost further developments, policy makers should continually show their support and recognition of HPs, as a key technology, in the energy transformation. It needs long term, stable conditions, to encourage the industry to increase investments in R&D and production capacity, as well as training. These activities will result in better, more efficient and cost competitive heat pump systems, that can fulfill expectations. Such common efforts will be necessary to decarbonise Europe.
We will publish the complete report after the summer break and we are looking forward to receiving comments and feedback from all the readers. We believe that the Market and Statistics Report 2017 will be inspirational for existing and new players in this exciting field of technology.
For more information, interviews or to receive a copy of the report (free for the press), please contact Ms. Eirini Litina.
Ms. Eirini Litina, Communications Officer, +32 (2) 400 10 35, email@example.com
Note to the editor
EHPA promotes awareness and deployment of heat pump technology in Europe. All activities aim at creating a market environment that facilitates a faster deployment of heat pump technology to unleash its benefits on a European level: efficient heating and cooling using renewable energy. EHPA also coordinates the Heat Pump Keymark – a European certification scheme for all heat pumps, combination heat pumps and hot water heater. For more information, please visit: www.ehpa.org