Willingness to pay for heat pumps
March 15, 2022
The Behavioural Insights Team (BIT) and Nesta investigated homeowners’ willingness to pay for heat pumps. Results from a sample of 1,801 UK homeowners (who currently heat their homes with a gas boiler) showed approximately 25% might be willing to pay the full current cost of heat pumps (noting that not all would necessarily complete the purchase in real life). The researchers summarised that although the potential for early adopters to pay gave cause for optimism, cost remained a major barrier to widespread adoption of heat pumps which need to be in reach and appealing to those less willing to pay a premium.
Read more about the research here: