Geothermal Heat Pumps and Direct Use

Transcription

1 Residential, Commercial, Industrial, and Agricultural Applications for Geothermal Direct Energy: Market Analysis and ForecastsA Geothermal heat pumps and the direct utilization of geothermal resources represent a fast-growing alternative in the heating and cooling market. As demand for electricity expands throughout the world and energy prices increase, the direct use of geothermal, led primarily by heat pumps, is on the rise. An efficient and reliable option for residential, commercial, and institutional building owners, geothermal heat pumps exploit the nearly constant temperatures found just beneath the ground. While cost and lack of consumer awareness remain primary obstacles to increased adoption, tax incentives and policies supporting building efficiency improvements are helping to drive dramatic growth in the heat pump market. While heat pump potential is high, installations currently represent just 1% of the heating and cooling market. Other direct use technology growth is more moderate and in some cases negative, which results in heat pumps occupying a rapidly expanding proportion of direct use deployments throughout the world. Today, at least 78 countries utilize geothermal direct use applications, with geothermal heat pumps representing roughly 50% of the direct use market. Led by the United States, China, and Sweden, direct use capacity reached 51GWt in 2010, representing 438,073 TJ/year in thermal energy used. Through 2017, Pike Research projects that 90% of added direct use capacity will come from heat pump installations, led primarily by select EU markets, China, and the United States. This Pike Research report analyzes the global market opportunity for direct utilization of geothermal energy with a primary focus on heat pumps. The study includes a comprehensive examination of direct use markets, demand drivers, existing and emerging technologies, the public policy and regulatory environment, and key industry players. Market forecasts, segmented by geography, extend through 2017 and include examinations of market dynamics in all regions worldwide. Key Questions Addressed: Which geothermal direct use applications are poised for the greatest growth' What is the market opportunity for geothermal heat pumps and direct use applications' What are the relative strengths and weaknesses of geothermal direct use applications' 1

2 Where are geothermal heat pumps primarily utilized' What are the primary barriers to increased use of geothermal heat pumps' What policies will drive demand for geothermal heat pumps' Who needs this report' Geothermal heat pump manufacturers Heat pump equipment distributors HVAC system installers Drilling specialists and ground loop installers Residential, commercial, and institutional building owners and managers Architects, engineers, and contractors Utilities Government agencies Industry associations Investor community Table of Contents Table of Contents 1. Executive Summary 1.1 Introduction 1.2 Direct- Geothermal Growth Outlook 1.3 Key Findings 2. Market Issues 2.1 What Is Geothermal Energy' 2

3 2.2 How Is Geothermal Energy d' Geothermal Direct Applications Geothermal for Power 2.3 Direct Market Overview Space Heating Market Overview Greenhouse and Covered Ground Heating Market Overview Aquaculture Pond and Raceway Heating Market Overview Agricultural Crop Drying Market Overview Industrial Process Heat Market Overview Snow Melting & Cooling Bathing and Swimming Other s 2.4 GHPs Role of GHPs in Energy Markets GHP Global Market Snapshot U.S. GHP Market European GHP Market Asia Pacific GHP Market GHP End- Market Segmentation Residential Markets Commercial and Institutional Markets 2.5 Why Geothermal Heat Pumps' Benefits Abundant Resource Low Operating and Maintenance Costs Efficiency Durability and Reliability Convenience and Safety Flexibility Drawbacks Upfront Expense 3

4 Other Concerns Maintenance Water Dependency and Contamination Concerns Associated with of Antifreeze Coordination of Various Components 2.6 GHP Market Drivers Rising Energy Costs Electricity Demand Energy Efficiency Climate Change EU ETS Directive Job Creation Alternative Energy Mandates Select National Mandates from International Markets European Union China Renewable Portfolio Standards in the United States Government Incentives Select International Incentives United States Tax Credits and Subsidies Loans, Grants, and Rebates 2.7 GHP Barriers & Market Constraints High Capital Costs Models for Shifting Installation Cost Burden Policy Improvements Consumer Knowledge Other Barriers Lack of Standardized Cost and Feasibility Analysis Energy Prices Natural Gas 4

5 Heating Oil Space Constraints Distribution Issues & Lack of Regional Expert 2.8 GHP Economics GHP Unit Costs GHP Installation Costs Operating & Maintenance Costs DOD Experience 3. Technology Issues 3.1 Geothermal Direct Technology Overview Geothermal Terminology GHP Technology Overview GHP Cooling GHP Heating 3.2 GHP System Components Heat Pump Geothermal Loop Optional Components 3.3 GHP versus Air-Source Heat Pumps 3.4 GHP Loops Closed-Loop Systems Horizontal SLINKY Spiral System Vertical Pond/Groundwater Open-Loop Systems Standing Column Well ('Well Water') Direct Exchange 3.5 Optimizing the Loop System Evaluating GHP Sites 5

6 Geology Hydrology Land Availability Types of Loop Piping Heat Transfer Fluids Combining Septic Systems with Loops 3.6 GHP Efficiency Energy Consumption Rating GHP Heating and Cooling Efficiency Cooling Ratings in the United States Heating Ratings in the United States GHP Energy Star Ratings in the United States ASHP Ratings 3.7 Installing GHPs Ground-Loop Installation GHP Unit Installation 3.8 Optimizing GHP Technology Increasing GHP Efficiency Loop Temperature versus Operating Costs Adding VFDs to the Pumps Energy Recovery of Ventilation Air Geothermal and Green Building Maximizing LEED Points Net-Zero Energy Buildings R&D Financing Financing Innovation Sampling of Specific Research Efforts 4. Key Industry Players 4.1 Geothermal Direct Industry Overview 4.2 GHP Industry Overview 6

7 4.3 GHP Manufacturers Carrier ClimateMaster Enertech FHP'Bosch Group GeoMaster GeoSystems NIBE WaterFurnace Chinese Manufacturers 4.4 GHP Service Providers Geothermal International Hydro-Temp Laibe Corporation 5. Market Forecasts 5.1 Global Renewable Energy Trends Geothermal Direct Trends GHP Trends 5.2 Geothermal Direct Forecast Methodological Overview Global Direct Forecast Regional Direct Forecasts North America Latin America Eastern Europe Western Europe Asia Pacific Africa Middle East 5.3 GHP Global Market Outlook North America 7

8 United States Canada Latin America Eastern Europe Western Europe Asia Pacific China Africa Middle East 6. Company Directory 7. Acronym and Abbreviation List 8. Table of Contents 9. Table of Charts and Figures 10. Scope of Study, Sources and Methodology, Notes List of Charts and Figures Direct Capacity Growth by Region, World Markets: Top Ten Countries Utilizing Geothermal Direct Resources: 2010 Geothermal Direct Market Share by Region, World Markets: 2010 Top Ten Countries Utilizing Geothermal Heat Pump Technology: 2010 GHP Market Share by Region, World Markets: 2010 Top Six Countries Utilizing GHP, Europe: 2010 GHP Market Share by Country, Asia Pacific: 2010 New Housing Starts, United States: GHP Cost Breakdown 8

9 Top Ten Manufacturers of Energy Star Rated GHP Units, United States: 2010 Direct Capacity Growth by Application, World Markets: Direct Capacity Growth by Region, World Markets: Direct Capacity Growth by Application, North America: Direct Capacity Growth by Application, Latin America: Direct Capacity Growth by Application, Eastern Europe: Direct Capacity Growth by Application, Western Europe: Direct Capacity Growth by Application, Asia Pacific: Direct Capacity Growth by Application, Africa: Direct Capacity Growth by Application, Middle East: GHP Capacity Growth by Region, World Markets: GHP Shipments by Model Type, United States: GHP Revenue by Model Type, United States: GHP Capacity Growth, Western Europe: GHP Capacity Growth, Asia Pacific: GHP Shipments, United States: Analysis of Ground-Loop Installation Costs Geothermal Resource Temperatures and Potential Direct Applications Residential GHP System (Cooling Mode) Residential GHP System (Heating Mode) Overview of Closed-Loop GHP Systems Installation of SLINKY Spiral System EPA Energy Star 3.0 GHP Specification List of Tables Geothermal Direct Market Share by Application, World Markets: 2011 Geothermal Heat Pumps & Direct Market Share by Region, World Markets: 2011 Geothermal Direct by Country, World Markets: 2010 Top Ten Countries Utilizing GHPs by Installed Capacity, World Markets: 2010 GHP Installed Capacity by Country, World Markets: 2010 Estimated Efficiency of High-Efficiency Heating Options 9

10 Cost per 1 Million Btu of Heating Output of High-Efficiency Heating Options Approximate GSP Cost Breakdown by Component New Home Starts, United States: GHP Domestic Shipments by Sector and Model Type, United States: 2010 Rated Capacity of GHP Shipments by Model Type, United States: Number of Energy Star GHP-Qualified Products by Brand Name, United States: 2011 Geothermal Direct Capacity and Thermal by Region, World Markets: 2010 Projected Geothermal Direct Growth by Application, North America: Projected Geothermal Direct Growth by Application, Latin America: Projected Geothermal Direct Growth by Application, Eastern Europe: Projected Geothermal Direct Growth by Application, Western Europe: Projected Geothermal Direct Growth by Application, Asia Pacific: Projected Geothermal Direct Growth by Application, Africa: Projected Geothermal Direct Growth by Application, Middle East: Growth in Geothermal Direct Capacity by Application, World Markets: Growth in Geothermal Direct Utilization by Application, World Markets: Growth in GHP Market Value by Application, World Markets: GHP Shipments by Model Type, United States: Revenue from GHP Shipments by Model Type, United States: Projected GHP Shipments by Destination, United States: Related Documents Advanced Materials and Devices for Renewable Energy: Global Markets REPORT SCOPE INTRODUCTION STUDY BACKGROUND Two years have passed since BCC published its last report on the global market for advanced materials and devices used in renewable-energy systems. Since then, the global market for renewable energy has continued to grow and evolve. BCC therefore considers it important to update 10

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