Heat pump sales have soared over the three quarters of 2022. According to Finnish Heat Pump Association SULPU statistics, the sales of air to air heat pumps grew by 100% in the first three quarters. More air-to-air heat pumps have already been sold to date than last year, well over 100,000 pumps. The sales-growth rate for air to water heat pumps is approximately 30% and for ground source heat pumps over 20%. The sales volume of exhaust-air heat pumps for single-family houses was the only sector that saw a decline – of 20%. 125,000 heat pumps were sold during the first nine months of 2022. The total volume increased by 80% compared with the same period last year. This growth veered more towards high-performance pumps, which means that the increase in deliveries was even higher in euro terms.
The increase in the price of energy and desire for heating solutions with the greatest possible degree of independence are a plus for heat pumps. As a result of the increase in the price of oil, gas, district heating, and electricity, the profitability of heat pumps has continued to improve. The subsidies for the replacement of oil boilers and the improvement of their energy efficiency are boosting heat pump sales in the market for heating system renovations.
The war in Ukraine has also increased the demand for heat pumps. People are now seeking other ways of heating their houses – ways that are based on self-produced energy and the minimization the use of delivered energy. A heat pump is an excellent solution for this.
The heat pump sector has been hit – and is still challenged – by the international shortage of components and equipment plus the shortage of entrepreneurship, designer, and installation resources. Long delivery times, even longer than six-months, of energy wells and the congestion of permits in municipalities and towns hinder the sales and installations of ground-heat projects in particular. More than one million pumps have already been delivered, making Finns very familiar with heat pump technology and giving it a good reputation for being reliable. This makes the purchasing decision easy.
What would those sales figures be if the number of pumps and resources could satisfy the demand, wonders Jussi Hirvonen, Executive Director of the Finnish Heat Pump Association SULPU.