‘EU heat pump goals to cut heating bills by 20%’

Meeting the REPowerEU heat pump target for 2030 could reduce CO2 emissions from EU residential buildings by 46%, according to a report

An independent study has revealed that a rapid rollout of heat pumps in Europe could play a significant role in addressing energy poverty while simultaneously reducing household bills and gas imports, as well as boosting health, jobs, and GDP.

The research conducted by Cambridge Econometrics indicates that the EU’s goal of installing 60 million more heat pumps by 2030 would result in a 40% decrease in gas demand for buildings between 2022 and 2030.

Additionally, Europe’s energy imports would drop by €60 billion (£53.1bn), while household heating bills would see a 20% reduction compared to a business as usual scenario.

Heat pumps are known to be around 30% more cost-effective than gas boilers over their lifetime.

According to Jozefien Vanbecelaere, Head of EU affairs at the European Heat Pump Association, the need to transition to heat pumps quickly has become increasingly evident.

Vanbecelaere said: “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.”

According to Stijn Van Hummelen, Managing Director at Cambridge Econometrics (Belgium), a rapid shift to heat pumps could help decrease our reliance on fossil fuel imports and cut household energy expenditure, while also generating additional employment, particularly if fossil fuel prices remain high in the coming years.

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