March 7, 2012: CGC Releases State of the Canadian Geothermal Heat Pump Industry Report
CGC said the report is the second document published by the association to present a comprehensive picture of the Canadian geothermal heat pump industry. This year’s report presents for the first time provincial installation statistics over a four year period, 2007 to 2010.
The report shows that the market for geothermal heat pumps grew by more than 40 percent in 2005 and by more than 60 percent annually in 2006, 2007, and 2008. The market increased by an additional 5 percent in 2009 before declining in 2010, the first decline since 2003. Early estimates indicate that the market stabilized in 2011 for Canada as a whole.
Together, Ontario, Quebec, and British Columbia represented about 87 percent of the GHP market in 2010 compared to 76 percent in 2007. Manitoba is the only Canadian province which experienced annual market decline in each of 2007, 2008, 2009, and 2010. In fact, the market for GHP crashed by 64 percent between 2007 and 2010, by far the worst performance of all Canadian provinces.
“As more statistics become available, and as our analytical capacity improves, the CGC is increasingly in a position to draw interprovincial comparison and identify or qualify market failures and market successes,” said Denis Tanguay, CGC’s president and CEO.
The statistics presented in the report have been gathered from different sources over a period of more than five years. Sources include three CGC annual industry surveys and market data collected directly from close to 500 installation companies through the CGC Company Qualification Market Survey. It also includes the CGC certification database, which includes technical information on over 16,000 residential systems installed by more than 800 companies. Additional information was taken from selected companies’ annual reports as well as from documents published by government agencies.
The State of the Canadian Geothermal Heat Pump Industry 2011 - Industry Survey and Market Analysis is available on the CGC website at www.geoexchange.ca.
Publication date: 03/05/2012