BAKU, Azerbaijan, August 11. Global residential heat pump demand will skyrocket in the coming decades as energy efficiency and energy consumption demand take center stage as a result of energy insecurity and decarbonization efforts, Trend reports with reference to Rystad Energy.
Rystad Energy research shows that global heat pump demand could hit 450 million units by 2030, doubling today’s total of around 190 million, and potentially tripling to 1.5 billion by 2050. This forecast is based on Rystad Energy’s 1.6-degree global warming scenario, which we believe is well within reach.
Heat pumps are efficient and flexible, using electricity and refrigerants to draw in warm air during winter and cool air when the temperature rises. They are the most efficient form of space heating and could be crucial in decarbonizing the consumer energy market. Residential heating accounts for roughly 10 percent of global energy demand, so heat pump systems could considerably impact energy and fossil fuel demand.
However, geopolitical issues, supply chain concerns and additional building renovations that may be required to ensure system efficiency could all throw a spanner in the works.
“Heat pumps could be the magic bullet for reducing demand in the residential energy market and help usher in a greener global energy mix – but significant hurdles stand in the way of reaching these demand forecasts, including the war in Ukraine and tighter regulations, both of which are long-term concerns. If the market can adapt to the evolving landscape and find solutions, heat pumps could be commonplace by mid-century,” says Rystad Energy senior analyst Lars Nitter Havro.
---
Follow the author on Twitter: @Lyaman_Zeyn
