In Finland, Heat Pump Sales Drop to Normal Level Following a Boom

SULPU, the Finnish heat pump association, has published data on heat pump sales in 2023. According to SULPU statistics, almost 120,000 heat pumps were sold in Finland in 2023 with a year-on-year decrease of 40%, following a 50% increase in 2022, a peak year. Factors that contributed to the drop in sales in 2023 included a decline in construction, a rise in interest rates, and a gloomier investment environment at the level of the economy as a whole and at a household level.