Heat pumps, powered by low-emissions electricity, are the central technology in the global transition to secure and sustainable heating. This report, provides an outlook for heat pumps, identifying key opportunities to accelerate their deployment. It also highlights the major barriers and policy solutions, and explores the implications of an accelerated uptake of heat pumps for energy security, consumers’ energy bills, employment and efforts to tackle climate change.Around 10% of space heating needs globally were met by heat pumps in 2021, but the pace of installation is growing rapidly with sales at record levels. Government policy support is needed, though, to help consumers overcome heat pumps’ higher upfront costs relative to alternatives. Financial incentives for heat pumps are already available in over 30 countries, which together cover more than 70% of heating demand today. The IEA estimates heat pumps globally have the potential to reduce global carbon dioxide (CO2) emissions by at least 500 million tonnes in 2030 – equal to the annual CO2 emissions of all cars in Europe today.
The Future of Heat Pumps
