A fast heat pump roll-out in Europe will help tackle energy poverty; cut bills and gas imports, and boost health, jobs and GDP, new research reveals.
The research shows gas demand in buildings would drop by 40% between 2022 and 2030 if the EU’s target of 60 million more heat pumps installed by 2030 is met.
What’s more, Europe’s energy imports would fall by €60 billion, and household heating bills by 20% by 2030 compared to a business as usual scenario, the analysis by thinktank Cambridge Econometrics – published today in a report from EHPA and the European Climate Foundation – shows. Heat pumps are around 30% cheaper to run than gas boilers over their lifetime.
Boilers running on fuels are the main reason for the EU’s high gas dependence and the fact that buildings are way off track in terms of decarbonisation.
Despite this, a new fuel boiler is installed every eight seconds in the EU. The European Commission has proposed a ban on the sale of new fuel boilers from September 2029, which is being discussed on 27 April.
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