Falling sales = failing sector? How to put Europe’s Heat Pump leadership back on track

After ten years of growth, heat ppump sales fell last year. At this level, Europe will fall short of its 60 million heat pump ambition for 2030. This would be a missed opportunity to build clean tech leadership and contribute to a net zero economy. How can we get the market back on track?

Description

south_east

Speaker

south_east

When & Where

calendar_today

Tue, 08.10.2024, 10:00 – 10:20

place

Hall 8 / 8-516

Details

Format: Lecture

Language: English

Description

€7 billion in investments, 250 manufacturing sites, 170,000 direct jobs: the heat pump sector is a key net zero industry for Europe. But just as the importance of clean tech competitiveness grows, heat pump sales have fallen for the first time in ten years. In 2023, sales dropped 6.7 % in 21 European countries, to just over 3 million.
If sales continue at this rate, only around 45 million heat pumps would be installed by 2030 – about 25 % short of the EU’s aims of 60 million heat pumps, according to its 2040 climate plans**.
Falling short of the 2030 aims would mean the EU misses out on potential investments and jobs. It would also be a missed opportunity to avoid annual emissions of 3.4 Mt of CO₂ a year by 2030, equivalent to those of 3.5 million cars.
So why did this happen, and how can it be tackled?