Booming Heat Pump Market: Italy, Norway, and the USA Experience Strong Demand - Member Country Reports Unveiled by IEA's HPT TCP.
The second of four Member Country Report digital workshops for 2023 was organized by HPT TCP by IEA on the 20th of June 2023 where the respective delegates of Italy, Norway and USA delivered their Member Country Reports.
The heat pump market is booming, with strong demand in both the residential and commercial sectors. In Italy, for example, the market for heat pumps has grown by an average of 10% per year over the past five years. This growth is being driven by a number of factors, including rising energy prices, government incentives, and increasing awareness of the environmental benefits of heat pumps.
However, there is still more research needed to improve the efficiency and durability of heat pumps. In USA, for example, the government is funding research into new heat pump technologies that can operate at lower outdoor temperatures. This research is important because it could help to make heat pumps more affordable and accessible to a wider range of people.
Policy measures can also help to promote the use of heat pumps. In the United States, for example, the federal government offers tax credits for the installation of heat pumps. These tax credits can help to offset the upfront cost of installing a heat pump, making it more affordable for homeowners and businesses.
The HPT TCP member countries are working together to share experiences and promote the use of heat pumps. The member countries are also working to identify opportunities for collaboration on research and development. This collaboration is essential to ensuring that heat pumps continue to play a leading role in decarbonizing the global energy system.
In addition, here are some additional key takeaways from the presentations:
- The heat pump market is expected to continue to grow in the coming years, driven by the need to decarbonize the energy system.
- There are a number of challenges that need to be addressed in order to accelerate the deployment of heat pumps, including the need for more research, the need for supportive policies, and the need to overcome consumer reluctance.
- The HPT TCP by IEA is playing a key role in addressing these challenges and promoting the use of heat pumps.
A copy of the Member country report presentations can be accessed using the links here:
Introduction Presentation from HPC