I am excited to share our perspectives on the latest developments in the renewable heating industry and our ongoing efforts to drive innovation and sustainability.

EHPA Findings: How Electricity Prices Shape Heat Pump Market Dynamics

The 2024 EHPA (European Heat Pump Association) report provides valuable insights into the current state of the heat pump market, highlighting both opportunities and challenges that will shape the future of energy-efficient heating.

The report celebrates a significant milestone: over 24 million heat pumps are now installed across Europe, a collective achievement that has reduced greenhouse gas emissions equivalent to removing 7.5 million cars from the road. However, the report also points to a pivotal moment in the industry, as market growth slowed for the first time in a decade.

With over 3 million heat pumps sold in 2023, the total stock now stands at approximately 24 million systems, making the industry a €7 billion market that directly employs 168,000 people. Despite this growth, the slowdown in late 2023 raises pressing questions about how to maintain momentum.

The EU’s ambitious target of installing 60 million heat pumps by 2030 is essential to achieving Europe’s climate goals. However, at the current pace, there could be a shortfall of 15 million units, which could impede Europe’s energy independence and climate neutrality efforts.

To bridge this gap, collaboration between manufacturers, policymakers, and consumers is crucial. Decarbonization requires overcoming barriers such as high upfront costs and inconsistent electricity pricing.

Turning Challenges into Opportunities: The Role of Heat Pump Producers

The recent market slowdown poses challenges but also serves as a rallying call for manufacturers to innovate and adapt. Heat pump producers must not only meet current demand but also scale up production, reduce costs, and advocate for policy reforms that accelerate the transition to renewable energy solutions.

For Solimpeks, this aligns perfectly with our mission of continuous improvement and leadership in sustainable heating technologies.

Solimpeks’ Support for EHPA Initiatives

At Solimpeks, we proudly support EHPA’s efforts to advance the adoption of heat pumps across Europe. Our commitment is evident in several key areas:

• Innovative, Cost-Effective Solutions: Through our Varmeks sub-brand, we focus on designing efficient and affordable heat pumps tailored to market needs.
• Policy Advocacy: We actively promote reducing electricity taxes and implementing carbon pricing, aligning with EHPA’s recommendations to create a favorable environment for heat pump adoption.
• Manufacturing Expansion: With our cutting-edge factory set to open on January 1, we are increasing production capacity to meet the rising demand across Europe.

This collaboration with EHPA reflects our shared vision of a decarbonized and sustainable future.

Shaping the Future of Renewable Heating

Looking ahead, Solimpeks is committed to leading the charge in sustainable heating solutions. The inauguration of our new factory marks a significant milestone in our journey toward becoming Europe’s largest heat pump manufacturer. Equipped with advanced automation and environmentally friendly practices, this facility will deliver unmatched efficiency and quality.

Beyond production, our investment in digital media strategies ensures we raise awareness of the people and engage diverse audiences about the benefits of heat pumps. By fostering connections with consumers, policymakers, and industry stakeholders, we aim to amplify awareness and inspire action.

The future of renewable heating demands bold vision and collaborative effort. Solimpeks is ready to take on this responsibility, aligning our actions with a greener, more sustainable Europe in 2025.

Together, we can overcome challenges, accelerate innovation, and ensure that sustainable heating solutions become the norm across Europe.

Let’s lead the way toward a brighter, greener future.

M. Emin Kececiler

CEO of Solimpeks