Summary
Octopus Energy is producing heat pumps at a factory in Northern Ireland. The UK government aims to install 600,000 heat pumps annually by 2028, but the country has not yet reached this goal. Demand for heat pumps grew in Europe after gas prices went up in 2022 but has slowed since gas became cheaper again.
Key Facts
- Octopus Energy manufactures heat pumps in Craigavon, Northern Ireland.
- Heat pumps use electricity instead of oil or gas, helping to reduce carbon emissions.
- The UK government wants to install 600,000 heat pumps per year by 2028.
- UK sales of heat pumps were below 100,000 in 2024.
- Demand increased in Europe after gas prices rose following the 2022 Russia-Ukraine conflict.
- Octopus Energy's factory can produce 600 heat pumps monthly, with plans to double output.
- Heat pumps absorb environmental heat, using a compressor and refrigerant to transfer warmth.
- Octopus has a unique design and uses technology like insulation beads to improve efficiency.
