Dec. 6, 2011: Growing Geothermal Use Expected to Lead to Greater Use of Energy Management
BOULDER, Colo. — While the use of geothermal heat pumps and other forms of direct-use geothermal applications make up a small percentage of the overall heating and cooling market, growing electricity demand, rising energy prices, and increasing regulation around carbon emissions and energy efficiency are expected to push demand higher over the next several years, notes Pike Research. 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 energy management, geothermal heat pumps can provide significantly increased benefits.
According to a 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 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.