A new report has been issued by Mitsubishi Electric that highlights some of the barriers to the growth of the heat pump market in the UK. According to the study, ‘Heat Pumps: Accelerating the Switch’, more than a third of UK homeowners would switch to heat pumps if electricity cost the same as or less than gas, while 15% would consider switching if their annual energy bill was at least £500 cheaper. 

The report, which researched the opinions of 2,000 UK homeowners, also calculates a 9% increase in heat pump installations each year if energy costs were rebalanced. The current energy pricing structure actively penalises greener choices by loading environmental levies onto electricity. These levies add around £140 a year to the average household electricity bill, while gas is taxed less heavily even though heat pumps are up to three times more efficient than a gas boiler.

Mitsubishi Electric is calling for urgent action to remove the cost barriers holding back heat pump adoption. Key actions recommended in the report include the rebalancing of green levies, the decoupling of electricity from volatile gas prices, plus the expansion and promotion of financial support schemes. 

Russell Dean, deputy divisional manager, at Mitsubishi Electric, comments: “Our research reveals a critical tipping point in public sentiment: the desire to reduce emissions is being outweighed by the reality of energy bills. If we are to bring about considerable reform in how we heat our buildings in the UK, we must look at reforming an electricity pricing system that disproportionately penalises those who opt for low-carbon alternatives.

“Opting for sustainable heating solutions must be a viable solution to the volatile cost-of-living problems facing UK homeowners. Rebalancing the cost of electricity and gas could turn the tide on heat pump adoption and will be key to meeting net zero ambitions. Heat pumps are ready. Installers are ready. Consumers and businesses are interested. Now the energy system needs to catch up.”

The company’s separate research of residential and commercial heating installers also shows that they are ready to help accelerate the shift, with 93% believing they have the skills and experience to install heat pumps – an increase from 61% last year.  

To read the full report, visit: Heat Pumps: Accelerating the Switch