Record number of heat pumps to be sold this year despite high upfront cost
Heat pumps have the potential to reduce global carbon emissions by at least 500 million tonnes in 2030 — equal to the annual CO2 emissions of all cars in Europe today.
Record numbers of heat pumps are expected to be sold globally this year but remain up to four times as costly as a gas boiler upfront, according to the International Energy Agency (IEA).
Heat pumps form a major part of Ireland's emissions reduction plans in the coming years, because of their more climate-friendly credentials as well as their cost-saving.
The IEA said heat pumps have the potential to reduce global carbon emissions by at least 500 million tonnes in 2030 — equal to the annual CO2 emissions of all cars in Europe today.
According to market and consumer data analyst firm Statista, from 2013 to 2020, the number of heat pumps in operation in Ireland increased by approximately 49,300. At the end of the last decade, there were 55,870 heat pumps.
The current Climate Action Plan, due to be updated by the end of the year, outlines plans for 600,000 heat pumps in Irish homes by 2030, with 400,000 in existing homes. Almost all new-build homes in recent years installed heat pumps as their heating systems.
However, as in the case of retrofitting homes, the upfront cost of installing the pumps has been flagged as a barrier to many Irish homeowners wishing to upgrade their systems, even with grant aid available.
The Sustainable Energy Authority of Ireland (SEAI) advises that a large number of households will also need to retrofit their home — wall/roof insulation, windows, doors — to ensure the home is heat-pump ready before installation.
For an average Irish home, an air source heat pump may cost €12,000 to €18,000, according to Bord Gáis Energy guidance.
The IEA report on heat pumps globally says that policy action is needed to unblock bottlenecks such as upfront costs and training workers.
Global heat pump sales rose by nearly 15% in 2021, double the average of the past decade, led by the EU where they rose by around 35%, the IEA said.
Sales in 2022 are set to hit record levels in response to the global energy crisis, especially in Europe where some countries are seeing sales double in the first half of 2022 compared with the same period last year, it added.
However, it warned: "Government policy support is needed, though, to help consumers overcome heat pumps’ higher upfront costs relative to alternatives. The costs of purchasing and installing a heat pump can be two-to-four times as much as those for a gas boiler."
There will also be a global shortage of suitable workers for heat pump installation to keep up with demand, the report said.
"Global heat pump supply and installation could require over 1.3 million workers by 2030, nearly triple the current amount, raising the potential for skilled labour shortages, especially for installers," the IEA said.
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