TAKING GEOTHERMAL HOME

Geothermal Heat Pumps; Residential and Commercial Applications for Geothermal Heat Pumps: Global Market Analysis and Forecasts

3Q 2013 (Navigant Research)

“One of the most mature and stable platforms of renewable energy usage, geothermal heat pumps (GHPs) were first used in the 1940s, and current systems became commercially available in the 1970s. Today, GHP systems are being deployed in nearly every region of the world and in residential, commercial, institutional, and industrial environments with great success…[The market stands to experience significant growth as] the world economy recovers…The main barrier to GHP system deployment growth has been and remains to be the high upfront cost of system installation. Developments aimed to reduce this upfront cost are a primary focus of today’s R&D efforts. Navigant Research forecasts that installed GHP capacity will grow from 46.7 gigawatts thermal (GWt) worldwide in 2012 to 127.4 GWt in 2020…” click here for more

click to enlarge

Tweet