In the northern hemisphere the days are already getting shorter, and there is a touch of fall in the air. Soon it will be time to turn on the heat. Fortunately for consumer budgets and for the planet, heat pumps are three to five times more efficient than gas heating according to the International Energy Agency. In 2022 sales of heat pumps grew 11% year-on-year and account for 10% of residential heating worldwide. Driven by rising gas prices and concerns for shortages related to Russia’s invasion of Ukraine, heat pump sales grew 40% year-on-year in Europe to a record 3 million units in 2022.
In conjunction with the 20-year anniversary of Robeco’s Smart Energy investment strategy, we invite you to tune in this Thursday, 21 September at 16:00 CEST to hear the strategy’s portfolio managers discuss opportunities for a low carbon future. Webinar registration
Source: Heat Pumps UK, IEA March 2023