Direct use of geothermal, primarily heat pumps, is on the rise as demand for electricity expands worldwide and energy prices increase. Geothermal heat pumps provide an efficient and reliable option for residential, commercial, and institutional building owners by exploiting the nearly constant temperatures found beneath the earth’s crust.
“The potential for geothermal heat pumps is high, but installations currently represent just 1% of the heating and cooling
market,” according to Mackinnon Lawrence, industry analyst. “However, growing electricity demand, rising energy prices, and increasing regulation around emissions and efficiency are all expected to push demand higher.”
“Used on their own, geothermal heat pumps are capable of producing large reductions in energy use and peak demand in buildings,” Lawrence says. “Used in conjunction with clean energy generation and whole-building efficiency measures, the benefits of using heat pumps increase sustainability.”
Geothermal Heat Pumps and Direct Use, the new report by Pike Research, analyzes the global market opportunity for direct utilization of geothermal energy with a primary focus on heat pumps.
Learn how commercial buildings are taking advantage of geoexchange systems in the September issue of BUILDINGS.