Why invest in the UK heat pump market?
A sector with ambitious targets and major opportunities for growth...
Long term vision with an aim to grow the market to 600,000 heat pump installations each year by 2028 and up to 1.9 million a year by 2035, underpinned by ambitious policies.
Regulations to phase out fossil fuel heating in homes and businesses over next decade, starting with new buildings in 2025; with many housing developers already switching to heat pumps.
A Clean Heat Market Mechanism to be introduced in 2024, giving investors confidence in sustained growth of the UK heat pump market.
Over £12 billion in public investment through grant programmes to incentivise the public and businesses to decarbonise buildings, including the Boiler Upgrade Scheme, Public Sector Decarbonisation Scheme and Social Housing Decarbonisation Fund.
Enabling environment with government support to unlock investment in renewable electricity generation, electricity grid infrastructure, and green financing solutions.
Innovation funding available to develop heat pump solutions for the UK housing stock, that are simple to install, efficient and affordable.
Grants, financing and expert support available to businesses to help them grow and invest in the UK heat pump supply chain, which is already home to some of the world's biggest heating equipment manufacturers, as well as cutting edge innovators bringing the latest technology to market.
Strong, proven and growing export opportunity with £100 million of heat pumps and components already exported by UK companies.