Transition to net zero: Preliminary analysis of heat pump take up in the UK residential sector

Pat McAllister and Ilir Nase

ERES from European Real Estate Society (ERES)

Abstract: Energy transition from fossil fuels has been a key focus of governments post Paris Agreement. In 2019, the UK government legislated a net zero emissions target by 2050. Existing buildings account for roughly 40% of the energy related global CO2 emissions, of which nearly 30% comes from operational carbon. Given their contribution to total greenhouse gas emissions, residential buildings operations’ impact has received increased attention with targeted legislative frameworks at the national and supranational levels. A key aspect of the net zero transition are heat pumps as the alternative to fossil fuel, particularly in climates with limited solar energy potential. This paper investigates the heat pump take up rate by new dwellings across local authorities in England and Wales. In addition to documenting the perceived low take up rate, we analyse the factors determining the nuanced dispersion of these rates. We conclude that further action is needed in heat pump take up if they are to constitute a key factor in reducing CO2 emissions to help the UK government achieve its net zero ambition by 2050.

Keywords: Energy transition; Heat pumps; Residential Real Estate (search for similar items in EconPapers)
JEL-codes: R3 (search for similar items in EconPapers)
Date: 2023-01-01
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Persistent link: https://EconPapers.repec.org/RePEc:arz:wpaper:eres2023_328

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