Heat pumps account for 2/3 of new heating installations in Germany [1]. Modern buildings with effective insulation seem to make them quite viable, but that hinges on the availability of attractive electricity prices.

The second factor is that carbon-based fuels may become more expensive over time, so perhaps electricity costs “just” needs to remain stable to become attractive.

[1] https://www.zeit.de/wirtschaft/energiemonitor-strompreis-gas...