Heat-pump sales in Europe plummeted by 47 per cent in the first half of the year, as fewer households switched from gas boilers.
Just 765,000 heat pumps were sold in 2024 across the 13 European countries that represent 80 per cent of the market, the European Heat Pump Association said.
Over the same period in 2023, 1.44 million heat pumps were sold in countries including France, Italy, Germany and Sweden.
It means fewer than 1.5 million heat pumps are likely to be sold in 2024, which is the lowest level since 2019.
Sales were hit by dropping gas prices, which soared after Putin’s illegal invasion of Ukraine in 2022, wavering government subsidies and the cost of living crisis.
After the war began, the EU set a target of installing at least 10 million more heat pumps by 2027 as part of efforts to lessen its dependence on Russian gas but a subsequent boom in sales is now over.
The UK Government is reported to be planning to introduce heat-pump targets in Britain next year in what has been branded a “boiler tax” on households.