After a short boom period, the demand for heat pumps has recently cooled down. However, it is still higher than before, because thanks to subsidies and energy savings of at least a third, own production quickly pays off, calculates Alexander Springler from manufacturer Daikin.
Some domestic heat pump companies have already responded to the market slump that started last year by cutting staff and reducing production. “Of course we feel the decline in residential construction, because we had the greatest demand for heat pumps in new construction. A heating heat pump played a role in more than 90 percent of single-family homes,” summarizes Alexander Springler, co-director of Daikin.
The Japanese are number three in Austria and employ 120 people in Austria. The devices are produced in Europe. In the boom year of 2022, almost 50,000 systems were installed across Austria by all providers combined, and in 2023 demand fell sharply to 43,000. Springler expects a market volume of around 45,000 pumps this year.
“Actually not dramatic”
“It is actually not dramatic, the trend is stagnating to a normal level. In 2021 there were only 30,000 units. But the political announcements raised demand expectations too high, manufacturers then built factories and hired people – capacity is now too high.
In any case, the installation is worth it for the homeowners without any problems, according to the Daikin manager. In a new building, the heating load is often 50 percent lower than in an old building, but even after renovating existing houses, “a third and sometimes even half of the heating costs can be saved. In single-family homes you cannot actually ignore the heat pump. It is the only heating system where you can even generate the energy yourself with a PV system. So you hardly have to connect electricity in your home, so in addition to saving money, you are also independent.”
Some financings can be combined
It is important that the financing is plannable and uncomplicated. According to the expert, this can still be improved. “There are subsidies from the federal government, states, municipalities and energy suppliers. Some of these can be combined, others cannot, it is still too complicated.”
The subsequent processing is now going well (registration, cost estimate, twelve months for installation after approval of financing). The heat pump itself would cost approximately 30,000 to 40,000 euros in an old building with 200 square meters of living space.
For this investment, which you must finance entirely yourself until you receive the subsidy, interested parties who are less well off should receive subsidized loans, Springler says. This would significantly increase the generally great willingness to switch to ecological heating systems.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
