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

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

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

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

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

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.

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

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

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

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...

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

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

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

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

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

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

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

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

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

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