Sharp Increase in Prices for Heat Pumps

The Wifo economist Michael Böheim sees a clear connection with the billions in subsidies. The industry disagrees - the heat pump provider Karl Ochsner attributes the price increase mainly to high demand as a result of the Ukraine war.

According to industry representatives, an air heat pump cost an average of 18,500 euros in 2020, according to the "ECO" report. According to the Ministry of Climate Protection, the price had already reached 30,700 euros by 2024. This results in a price increase of 66 percent - still 42 percent when adjusted for inflation.

Subsidy Initiative "Get Out of Oil and Gas"

As part of the subsidy initiative "Get Out of Oil and Gas" launched in 2023, up to 75 percent of the costs for heating replacement were covered - a maximum of 16,000 euros for air heat pumps. A total of 3.8 billion euros was available for the program. By December 2024, the subsidy fund was completely exhausted. According to the report, around 45 percent of the applications in 2023 were for heat pumps alone.

"When the subsidy is designed in such a way that a large part of the costs is covered by someone else and at the same time high demand meets a limited supply, then falling prices are unlikely," explained Wifo economist Michael Böheim to "ECO". Ochsner sees it differently: "This has less to do with the subsidies" than with the uncertainty following the Ukraine war.

The Ministry of Climate Protection points to regular evaluations of the subsidy measures, a final report is currently in progress.

(APA/Red)

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