Record high sales growth of 90% recorded for heat pumps in the first part of the year

Sales of heat pumps soared in the first quarter. According to Finnish Heat Pump Association (SULPU ry) statistics, the sales of air-to-air heat pumps grew by as much as 120%, air-to-water heat pumps by 40%, and ground-source heat pumps by 35%. The sales volume of exhaust-air heat pumps for single-family houses remained unchanged. Approximately 30,000 heat pumps were sold during the first quarter of 2022. The total volume increased by 90% compared with the same period last year. This growth also veered more towards high-performance pumps, which means that the increase in deliveries was even higher in euro terms.

Reasons for this huge increase include the subsidies for the replacement of oil boilers and the improvement of their energy efficiency, and the increase in the price of energy. The profitability of heat pumps improved further. More than one million pumps have already been delivered, making Finns very familiar with heat pump technology, which has gained a reputation for being reliable. Russia’s very unfortunate and regrettable war of aggression against Ukraine also increased the demand for heat pumps. The number of offer requests doubled within two weeks of the start of the war. People began to seek other ways of heating their houses – ways that were based on self-produced energy and would minimize the use of delivered energy.

The dire shortage of components and equipment plus the shortage of designer, entrepreneurship, and installation resources has resulted in a considerable challenge to heat pump sector. Up to six-month long delivery times of energy wells and the congestion of permits in municipalities and towns hinder the sales and installations of ground-heat projects in particular.

What would these sales figures be if the number of pumps and resources could match the demand?