2024 sees installation of heat pumps increase

2024 saw close to 60,000 new heat pumps installed across the UK

The year of 2024 has seen the trend continue of renewable resources becoming more accessible to households and SMEs.

Heat pumps were one of the most popular options for renewable energy, with 2024 seeing a more than 40% increase in heat pump installations, with close to 60,000 new heat pumps being installed nationwide. This increase adds to the over 275,000 thousand heat pumps in use across the UK.

A major factor in the increase in heat pumps is derived from the grants provided for those purchasing heat pumps, with England and Wales able to secure up to £7,500 in grants, and Scotland having a maximum grant of £9,000 for heat pump installations.

In total, over 260,000 new renewables energy solutions were installed across the UK in 2024, with these solutions including solar energy and heat pumps.

Solar panels continue to be the most in demand renewable energy solutions for homeowners and SMEs, with over 180,000 units installed across the country.

The rise in heat pump installations moves the UK one step closer to the 600,000 units installed goal set out for 2028.

Renewable energy finance with MAF Finance Group

MAF Finance Group’s renewables division is on hand to provide financial solutions to renewable energy assets to businesses across the UK. Whether you are looking to secure finance for heat pumps, solar panels or wind turbine, MAF can arrange competitive and flexible finance for you.

If you would like further information, email us at [email protected], or if you would like to speak to us directly, you can call us on 0115 958 6872 and a member of our team will be happy to speak to you.