144% increase in enquiries about Heat pumps in the UK

London, January 22, 2025 (Oilandgaspress) –- Over 200,000 homeowners contacted Octopus Energy to enquire about a heat pump in 2024, the UK’s largest power company reported. This marks a staggering 144% increase from the previous year, signaling a growing trend among homeowners eager to ditch traditional heating systems.

The UK heat pump industry hit a new record with almost 60,000 new installations in 2024*.

With the UK government’s annual target of 600,000 new heat pump installations by 2028 another year closer, Octopus’ figures show exponentially growing consumer demand. A similar growth from 2025-2026, 2026-2026 and 2027-2028 would see the UK easily hit this target.

Furthermore, half (49%) of UK consumers want to invest in low-carbon heating solutions, a recent study revealed*.

Thanks to the £7,500 grant from the Boiler Upgrade Scheme (BUS), the costs of getting a heat pump are now on par with a new gas boiler.

Heat pumps are also cheaper to run than gas boilers with dedicated smart tariffs. Octopus’ ‘Cosy Octopus’ can save heat pump customers £315 a year on heating costs compared to gas boiler customers on an SVT**.

To further drive down running costs, the government is currently considering moving environmental and social levies off electricity.. Read More

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