Yara Vöningen

Associate, Building Decarbonization team, Bloomberg NEF · Person

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Yara Vöningen - Associate, Building Decarbonization team, Bloomberg NEF. Tracked across 28 mentions in podcasts and expert conversations analyzed by Sonic.

What Yara Vöningen has said

Heat pumps can achieve a coefficient of performance (COP) of 2.5 to 3, making them significantly more efficient than resistive heating.

bullish·Yara Vöningen

In the US, China, and Japan, heat pump sales are primarily driven by new construction and replacement cycles in a mature market.

neutral·Yara Vöningen

On average, a heat pump is approximately twice as expensive to install as a gas boiler.

bearish·Yara Vöningen

Heat pumps can achieve a coefficient of performance (COP) of 2.5 to 3, making them significantly more efficient than resistive heating.

Expert perspectiveYara VöningenJun 11

In the US, China, and Japan, heat pump sales are primarily driven by new construction and replacement cycles in a mature market.

Expert perspectiveYara VöningenJun 11

On average, a heat pump is approximately twice as expensive to install as a gas boiler.

Expert perspectiveYara VöningenJun 11

District heating from combined heat and power (CHP) plants meets approximately 25% of China's space heating demand.

Expert perspectiveYara VöningenJun 11

Gas boiler sales in China have not grown significantly in the past five years.

Expert perspectiveYara VöningenJun 11

The Chinese government has shifted its policy focus for heat pumps from demand-side subsidies to supply-side incentives aimed at strengthening manufacturing and product performance.

Expert perspectiveYara VöningenJun 11

In the US Northeast, heat pumps are a more expensive heating option than gas furnaces but are cheaper than oil furnaces.

Expert perspectiveYara VöningenJun 11

An estimated 20% of US households use a heat pump as their primary source of space heating.

Expert perspectiveYara VöningenJun 11

In the southern US, electricity is cheaper than natural gas during winter months, making heat pumps an economically favorable option.

Expert perspectiveYara VöningenJun 11

In the late 2010s and early 2020s, the Chinese government offered subsidies covering over 100% of upfront costs to incentivize households to replace coal boilers with heat pumps for air quality reason...

Expert perspectiveYara VöningenJun 11

Japan, China, and the US are the world's largest markets for heat pump sales.

Expert perspectiveYara VöningenJun 11

A four-month pause in Germany's heat pump subsidy program in 2024 led to a dramatic decline in sales.

Expert perspectiveYara VöningenJun 11

Europe is the region with the fastest growth in heat pump installations for the purpose of displacing fossil fuels.

Expert perspectiveYara VöningenJun 11

A retail electricity-to-gas price ratio above 3 significantly hinders the uptake of heat pumps.

Expert perspectiveYara VöningenJun 11

In France, where nuclear power contributes to lower electricity costs, approximately 20% of households have a heat pump.

Expert perspectiveYara VöningenJun 11

Following Russia's invasion of Ukraine, wholesale gas prices in Europe increased approximately 12-fold year-on-year in 2022.

Expert perspectiveYara VöningenJun 11

In Germany, over 85% of heat pump installations receive government subsidies.

Expert perspectiveYara VöningenJun 11

China sells approximately 3.5 million heat pumps per year, a volume comparable to the entire European market.

Expert perspectiveYara VöningenJun 11

The penetration rate of heat pumps for primary space heating in China is approximately 5% of households.

Expert perspectiveYara VöningenJun 11

In almost all US states, natural gas is cheaper than electricity for home heating.

Expert perspectiveYara VöningenJun 11

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