Greener Living
Heat Pump Sales Fall in Europe for the First Time in 10 Years
An industry association says the decline may threaten jobs and new investment.
Engineers work on installing an Ecoforest heat pump at the Octopus Energy Ltd.'s training and R&D facility in Slough on Sept. 28, 2021.
Photographer: Chris Ratcliffe/BloombergThis article is for subscribers only.
Heat pump sales in Europe fell last year for the first time in a decade, driven by falling natural gas prices, high interest rates and a political backlash against green policies.
Sales across 14 countries, representing 90% of the European market, fell by 5% in 2023 compared with 2022, the European Heat Pump Association said, putting jobs at risk and threatening the industry’s ability to invest.