Heat pump net zero investment roadmap
This net zero investment roadmap summarises the UK government’s heat pump policies and investment opportunities available.
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The heat pump investment roadmap demonstrates the vital role that heat pumps have in decarbonising our homes and businesses. It also showcases the significant opportunities for private sector investment offered by the growing heat pump market in the UK, from manufacturing through to deployment.
By 2028, we expect annual deployment of heat pumps to reach at least 600,000 a year, which will require cumulative investment of up to £28 billion across the supply chain.
The UK government is supporting growth in the heat pump market with a comprehensive package of policy measures, including targeted regulation, a new market-based mechanism for clean heat and public funding, through schemes such as the Boiler Upgrade Scheme.
We expect at least 300,000 heat pumps a year to be manufactured in the UK by 2028 and there is already a strong pipeline of investment in UK heat pump and component manufacturing, worth up to £1 billion.
To support private sector investment, the government is providing extensive support to businesses, including tax relief and export finance, and is also launching a Heat Pump Investment Accelerator Competition, to strengthen local supply chains and create thousands of new low carbon jobs.
This roadmap is part of a series of roadmaps being published as part of a refresh of the Green Finance Strategy. The update to the UK’s Green Finance Strategy sets out how government will align our world-leading financial centre to a net zero, nature positive and climate resilient world, and how government will mobilise public and private financial flows to meet our climate and environmental targets.