Comprising a significant amount of total heat pump demand
March 29, 2017
Demand for air source heat pumps is forecast to increase 2.5 percent per year through 2021 to $2.1 billion. Air source heat pumps comprise a significant amount of total heat pump demand, largely due to the easier installation requirements and lower initial costs than geothermal heat pumps. Air source heat pumps also compete more directly with other HVAC equipment and are a viable heating and cooling option in most buildings.
The geothermal heat pump industry and several other clean energy technology industries are a step closer to saving thousands of jobs with the reintroduction of tax credit legislation by Reps. Tom Reed R-N.Y., Mike Thompson D-Calif., and 18 additional cosponsors (12 Republicans and 6 Democrats).
While organizations lobbied Congress for an extension like the ones given to photovoltaic (PV) and solar thermal technologies, the U.S. House of Representatives chose not to extend the tax credits for the geothermal market.
Western Europe is projected to account for a value share of 40.7 percent of the market by year end
November 11, 2016
Global sales of heat pumps is estimated to be valued at $6.5 billion by the end of 2016, witnessing a year-over-year growth of 5.8 percent over 2015, according to a new report from Future Market Insights.
The two-day event, which focused on helping dealers strengthen and grow their businesses, featured presentations on WaterFurnace products, marketing tools, training, financing, and more. Attendees also heard updates from the Geothermal Exchange Organization (GEO) and the International Ground Source Heat Pump Association (IGSHPA) regarding the geothermal tax credits.
This system demonstrates how modern hydronics technology can be used to harmonize the operation of two high-efficiency heat sources — one renewable and the other conventional.