Heat pumps are a key technology for improving energy efficiency as they can significantly reduce energy costs and emissions. Given the significant role of heat pumps in carbon neutrality pathways, and pressure for related national energy efficiency programs, it is important to examine economic profitability of heat pump investments and their relative environmental and social benefits. This paper aims to answer the following main research question: are areas with lower housing prices and income less likely to invest into energy efficiency? The paper finds that in Finland heat pumps are already very profitable and converting buildings’ heating systems into heat pumps creates major environmental and economic benefits for the residents. The cost of heating and heat pump investment costs does not vary between locations whereas housing prices, rents and income do. Neighborhoods with lower housing prices have less motivation and capability to invest into heat pumps. Urban areas with positive housing price development, higher income and better financing options will likely invest into energy efficiency without subsidies. Potential subsidies should be allocated into areas with lower housing prices, because emissions are evenly distributed, and lower income areas pay relatively more for energy. Energy efficiency subsidies could be tied into housing prices or more specifically into property tax, which is universally collected in most countries. Property tax could be used to guide energy efficiency investments into locations where they would not be carried out otherwise. For areas that do not need subsidies, this paper recommends that awareness should be increased, because the economic and carbon emission reduction potential of energy efficiency measures is still not well understood.

热泵是提高能源效率的关键技术，因为它们可以显着降低能源成本和排放。鉴于热泵在碳中和途径中的重要作用，以及相关国家能源效率计划的压力，重要的是检查热泵投资的经济盈利能力及其相对的环境和社会效益。本文旨在回答以下主要研究问题：房价和收入较低的地区是否不太可能投资于能源效率？该论文发现，在芬兰，热泵已经非常有利可图，将建筑物的供暖系统转换为热泵可为居民带来重大的环境和经济效益。供暖成本和热泵投资成本在不同地点没有变化，而房价、租金和收入呢。房价较低的社区投资热泵的动力和能力较低。房价上涨、收入增加和融资选择更好的城市地区可能会在没有补贴的情况下投资于能源效率。潜在补贴应分配到房价较低的地区，因为排放量分布均匀，而收入较低的地区对能源的支付相对较多。能效补贴可以与房价挂钩，或更具体地说，与大多数国家普遍征收的财产税挂钩。财产税可用于引导能源效率投资到否则不会进行的地方。对于不需要补贴的领域，本文建议提高认识，