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Q4 market brief
Draft v3 · Lumen Desk
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Generated 2 min ago · 14 citations

Nordic heat pumps: Q4 outlook

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Q3 installs, SE+NO+FI
142,800
−9% YoY
Avg. subsidy per unit
€2,350
NO cut 18%

Installs across Sweden, Norway and Finland fell 9% year on year in Q3 12. Norway drove most of the drop after Enova cut its grant by 18% 3; Finland is stabilising as installer backlogs shrink 4.

Risks for a Q1 entry
  • Demand pulled into December by the grant cut 3
  • Top-three vendors hold 61% of units 5
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