A report published by the European Heat Pump Association (EHPA) 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.
Analysis by thinktank Cambridge Econometrics – published in a report from EHPA and the European Climate Foundation – shows that meeting the heat pump target would also mean that 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 European Commission has proposed a ban on the sale of new fossil fuel boilers from September 2029.
Jozefien Vanbecelaere, Head of EU affairs at the European Heat Pump Association, said:
The importance of rapidly switching to heat pumps has never been clearer. From our lungs to our wallets, from our climate to our energy independence, speeding up the move away from fossil fuel boilers will bring an array of amazing benefits. We urge the EU to bring the fossil fuel boiler era to an end.
The modelling by Cambridge Econometrics also finds that meeting the REPowerEU heat pump target for 2030 would:
- Lead to a 2.5% growth in annual Gross Domestic Product (GDP) compared to a business as usual scenario
- Create 3 million net additional jobs compared to a business as usual scenario.
- Cut carbon emissions from EU residential buildings by 46% compared to 2022.
- Cut NOx from household heating almost 40% by 2030 compared to 2022.
Stijn Van Hummelen, Managing Director at Cambridge Econometrics (Belgium), said:
Our new report suggests that, particularly if high fossil fuel prices persist over the coming years, a fast transition away from gas boilers to heat pumps in the coming decade would not only help reduce reliance on fossil fuel imports by 2030, but also generate additional employment and reduce household spending on energy.
