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 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 fossil 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 fossil fuel boiler is installed every eight seconds in the EU. The European Commission has proposed a ban on the sale of new fossil fuel boilers from September 2029, which is being discussed on 27 April.
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, carried out on behalf of the European Climate Foundation and the European Heat Pump Association, 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 climate-harming CO2 emissions from EU residential buildings by 46% compared to 2022.
- Slash NOx from household heating almost 40% by 2030 compared to 2022. Heat pumps do not produce emissions that pollute the air we breathe, unlike burning fossil fuels and biomass.