Sales of residential heat pumps in Europe rose significantly in the first half of the year, with 1.16 million units sold, up from 1.05 million in the same period last year. This increase is attributed to rising oil and gas prices due to the Iran war and recent reductions in electricity taxes by several countries.
The European Commission is advocating for lower electricity tax rates to encourage the adoption of renewable energy sources. The European Heat Pump Association noted that higher electricity costs compared to gas hinder the growth of heat pump usage, particularly in countries with less favorable tax structures.
Watch for how EU governments respond to the Commission's push for lower electricity taxes, as this could further accelerate heat pump adoption. Homeowners should consider the long-term savings from heat pumps, especially in regions with high electricity costs.