The UK is seeing a surge in demand for heat pumps as a result of possible cuts to government schemes and rising energy prices
Research from Octopus Energy found that enquiries about heat pumps increased by more than half (58%) in October, reaching their highest level since March, when the war in Iran put energy prices in the spotlight and exposed Britain’s reliance on volatile fossil fuels.
“With so many stories in the media and online, people have looked into heat pumps and seen just how attractive they can be,” said Greg Jackson, founder and chief executive of Octopus Energy.
“We look forward to working with government to reduce the barriers and make it easier for even more people to switch away from gas to efficient electric heating.”
Heat pumps could reduce energy bills by up to 25%
Heat pumps can already beat gas on running costs. Octopus’s Boiler Beater dashboard shows 99% of Octopus’s Cosy heat pumps are cheaper to run than a gas boiler, typically reducing bills by 25% compared with a gas boiler.
Moreover, new government figures show heat pump grant applications hit a record high of over 9,700 in September – up 30% on August – with vouchers more than doubling year on year.
Uncertainty around government funding has caused a huge surge in heat pump demand
The rush follows uncertainty over the future of the Boiler Upgrade Scheme (BUS) ahead of the Budget, leaving households wondering whether they could miss out on support to make the switch, and fears of rising gas prices driven by the conflict in Iran.
The government has since confirmed that funding will remain at £400 million, allowing hundreds of thousands of British families to get a heat pump and keep their homes warm for less.
Jackson explained: “The BUS grant works. It’s a bit like the Barbra Streisand effect; publicity about threats to heat pumps has driven interest higher than ever.
“Fortunately, the government have committed to the grant scheme, and so many more families will benefit. Moreover, building the heat pump industry reduces Britain’s reliance on gas for heating – improving our energy security for the long term.”
