A new report forecasts vigorous growth rates for this segment of the drilling industry.
Because the Earth maintains a constant temperature
just 10 feet below the surface, systems that use shallow heat to control
building temperatures aboveground represent an easily accessible resource that
can be deployed almost anywhere in the world. While the use of geothermal heat
pumps and other forms of direct-use geothermal applications still make up a
minuscule percentage of the overall heating and cooling market, growing
electricity demand, rising energy prices, and increasing regulation around
carbon emissions and energy efficiency will push demand higher over the next
several years. Used on their own, geothermal heat pumps are capable of
producing large reductions in energy use and peak demand in buildings. Used in
conjunction with clean energy generation and whole-building efficiency – as in
the recently announced partnership between Tendril and WaterFurnace
International to offer a holistic solution combining home energy management
with renewable energy – geothermal heat pumps can provide substantially
increased benefits.
According to a recent report from Pike Research, geothermal heat pump sales
will experience strong growth rates in the next several years, with annual unit
shipments in the United States increasing from just fewer than 150,000 in 2011
to more than 326,000 units by 2017. The use of geothermal heat pumps integrated
with energy management systems, such as programmable thermostats and utility
demand response programs, will give homeowners and companies powerful new
capabilities for adapting electricity loads in response to peak heating and
cooling periods and for reducing energy costs.
“Direct-use geothermal applications, including geothermal heat pumps, face
unique obstacles – primarily high installation costs,” says Pike senior analyst
Mackinnon Lawrence. “But increased retrofit activity, a rebound in
construction, and growing interest in the commercial and institutional sectors
will drive strong growth through 2017 for geothermal heat pumps.”
Led by the United States, China and Sweden, 78 countries utilized
geothermal for direct use applications in 2010. Geothermal heat pumps account
for more than half of the direct use of geothermal worldwide, followed by
bathing and swimming. Other applications include space heating, greenhouses,
industrial processes, snow melting, and open ground heating. While cost
and lack of consumer awareness remain primary obstacles to increased adoption,
tax incentives and policies supporting building efficiency improvements will
help overcome those barriers. Pike Research anticipates dramatic growth in the
2011-2017 timeframe, with the total worldwide capacity for geothermal
direct-use applications increasing by 179 percent during that period.
Pike Research’s report, “Geothermal Heat Pumps and Direct Use,” analyzes the
global market opportunity for direct utilization of geothermal energy, with a
primary focus on heat pumps. The study includes a comprehensive examination of
direct-use markets, demand drivers, existing and emerging technologies, the
public policy and regulatory environment, and key industry players. Market
forecasts, segmented by geography, extend through 2017, and include
examinations of market dynamics in all regions worldwide. An executive
summary of the report is available for free download on the firm’s website –www.pikeresearch.com.
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Geothermal Heat Pump Growth
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