The European Heat Pump Association (EHPA) has confirmed a slow down in heat pump sales in 2023 and continuing into 2024.
It is understood that the greatest driver is the stabilising and lowering of gas prices which surged upwards in 2022, following the Russian invasion of Ukraine.A larger differential between electricity and gas prices (known as the spark gap), can change the economics of heat pump operation and lengthen payback periods. Climate campaigners are seeking ways to reduce the spark gap by lowering electricity costs.