Geothermal heat pumps growing in popularity

Geothermal heat pumps have been lately growing in popularity, mostly because of high oil and electricity prices. Many energy analysts expect strong growth of geothermal heat pump market.

The new research paper by Transparency Market Research forecasts 13.1 percent compound annual growth rate of global geothermal heat pump market from 2014 to 2020,and should reach the worth of $130.5 billion by the end of 2020.

The closed loop systems are still the preferred option and hold the biggest share of the market, even despite the fact that open loop systems are highly efficient.It is because open loop systems are reliant on the accessibility to groundwater reserves and there are regulations regarding the usage of groundwater reserves which hamper the spread of open loop geothermal heat pump systems.

North America and Europe lead the global geothermal heat pumps market, despite the recent popularity in some Asian countries. Asian market is expected to grow significantly in years to come, while Europe is already experiencing slight decline in new installations.

China is the largest contributor to the geothermal heat pumps market in Asia. The Chinese are exploring different renewable energy options, with geothermal energy being one of them.

Geothermal heat pump systems are very reliable. It is not just their reliability that gives them the edge over traditional heating systems. The US Environmental Protection Agency (EPA) has called ground source heat pumps "the most energy-efficient, environmentally clean, and cost-effective space conditioning systems available."

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Why should homeowners consider installing geothermal heat pump?

There are several important reasons why installing geothermal heat pump could be considered as a good solution for many homeowners, and not just because of the fact that geothermal energy is renewable source of energy .

The opponents will say that geothermal heat pump system costs more than conventional heating system, but one should also consider that after some period geothermal heat pump system will pay back its costs, and for those homeowners who chose to install it before 2016, there is also a 30-percent federal tax credit on the total cost. The average return period varies between three and ten years, and primarily depends on the drilling costs.

Every homeowner should also know that  geothermal heat pump system is the most efficient central air-conditioning system during summer, the one that also provides free water heating. In fact, geothermal heating systems are renowned for their efficiency. The reason behind their high efficiency is the fact that underground temperatures are significantly more constant compared to air temperatures that usually significantly vary throughout the year.

These systems also operate very silently because indoor compressor systems are in most cases very quiet. The most advanced geothermal heating and cooling systems are able to use the compressor to run in super-cooling mode which produces an extra 20 percent output, when temperatures are really high. It also has to be mentioned that all the components inside the house are small and easily accessible which makes maintenance lot easier.

On the long run, geothermal heat pump provides significantly improved comfort and savings over a standard heat pump, even at the simplest geothermal heat pump systems. Horizontal loop geothermal systems are in most cases the best in cost-efficiency ratio.

The bottom line, if you have the chance take a much closer look to installing one of these systems. As already said above not just because geothermal energy is a renewable source of energy but also because it can turn out to be a good investment, strictly from the economic point of view. So why not combine these two advantages?

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Quick intro to geothermal heat pumps

Geothermal heat pumps are being installed in many areas from all over the globe because geothermal energy from within the Earth's core presents very reliable and extremely efficient heating and cooling in both residential and commercial buildings.

The amount of geothermal energy within the Earth's core is enormous and the world is currently using only a tiny fraction of the total geothermal energy potential. Using geothermal heat pumps is also acceptable from the environmental point of view, as generally speaking their environmental impact is very low. They operate quietly and with excellent efficiency.

Many energy experts will agree that using geothermal heat pumps is the most efficient way to heat and cool a building. As the technology improves so does the efficiency of geothermal heat pumps. Also, the total usage of electricity is reduced 25% - 50% compared with geothermal heat pumps as compared to traditional heating and cooling systems.

Geothermal energy industry is also an excellent job creator – both in installation as well as manufacturing sector.

Many people are still not aware of the geothermal energy potential, meaning that geothermal energy industry needs to better introduce geothermal energy with consumers. One of the best ways how to best introduce geothermal energy with consumer is to encourage electric utilities to offer financial incentives to home and building owners who opt to install geothermal heating and cooling systems. The 30% federal income tax credit in combination with the financial incentives from the electric utility industry should significantly reduce the hap in high upfront costs between geothermal heat pumps and conventional heating and cooling systems and help overcome customers' reluctance based on the first costs.

Contrary as to some people think it is not impossible to retrofit an existing home or building with a geothermal heating and cooling system. The installation of geothermal heat pumps can basically overcome any property restriction, because of recent improvements in drilling technology.

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The pros and cons of using geothermal heat pumps

Using geothermal heat pumps is certainly an interesting clean energy option, even despite the fact that geothermal energy is yet to fulfill its abundant potential, and become a widely used source of energy.

The pros of using geothermal heat pumps:

1)      Geothermal energy is renewable source of energy. This means that earth's heat is being constantly replenished by the radioactive decay of elements. Unlike geothermal energy fossil fuels are finite sources of energy that will eventually become exhausted. What this means is that geothermal energy can guarantee future energy security while fossil fuels can't.

2)      Geothermal heat pumps are environmentally friendly. More geothermal energy means less fossil fuels, and less fossil fuels means fewer greenhouse gas emissions and less air pollution.

3)      Efficiency of geothermal heat pumps is always better at heating when compared to traditional pure electric heaters. The reason for this is their working principle as these systems exchange heat with the ground, with underground temperatures being lot more constant than the air temperatures, throughout the entire year.

4)      Geothermal heating systems use 25% to 50% less electricity compared to traditional heating systems.

5)      Very good durability estimated at around 25 years for inside components and 50+ years for the ground loop.

6)      No noise pollution because these systems operate very silently.

7)      Low maintenance costs.

8)      Installing these systems adds extra value to your property if you decide to sell it later on.

9)      Many countries offer tax benefits and other incentives for installation of these systems

The cons of using geothermal heat pumps:

1)      High upfront costs, in average three to four times higher compared to conventional systems. The main reason behind the high upfront costs is that ground source geothermal heat pumps must have a heat exchanger in order to extract or dissipate heat from the ground. Heat exchanger is very expensive, accounting for nearly half of the total system costs.

2)       Geothermal heat pumps aren't easy to install and require advanced technical knowledge and professional service. This also contributes to total costs of these systems.

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How does geothermal heat pump work?

Unlike what many people think, geothermal heat pumps aren't brand new technology as they have been now used for almost seven decades, starting from 1940s. Geothermal heat pumps can be used for both heating as well as cooling purposes. This is because the temperature below the earth's surface remains at a relatively constant temperature throughout the whole year, in average ranging between 45°F(7°C) to 75°F(21°C).
This relatively constant temperature means that during the winter months ground temperature is higher than the temperature of the air, making it ideal for heating purposes while during the summer months ground temperature is lower compared to air, and is therefore used for cooling.

The geothermal heat pump working principle is pretty simple, much simpler than many people think it is; in fact geothermal heat pumps basically use the same working principle like air conditioners or refrigerators, the one based on the transfer of the heat. 

In simple terms, this means that geothermal heat pumps can transfer heat from a cool space to a warm space, against the natural direction of flow, or they can enhance the natural flow of heat from a warm area to a cooler space. This will of course depend on whether they are used for heating (during the winter) or for the cooling purposes (during the summer).

Geothermal heat pump transfer heat from the ground

There are also some notable differences between geothermal heat pumps and air-source heat pumps (such as compressors). Compressors transfer heat to or from the outside air, while a geothermal heat pump exchanges heat with the ground. This makes the work of geothermal heat pumps more efficient because underground temperatures are much more constant compared to air temperatures that usually significantly vary throughout the year.

Let us also say few words about the types of geothermal heat pumps. Geothermal heat pumps can be either open-loop or closed-loop systems. Open-loop systems draw well water for use as the heat source or heat sink, and after the use, return this well water to a drainage field or another well. Closed-loop systems use a water and antifreeze solution, circulated in a ground loop of pipe in order to extract heat from the earth. Ground loops can be installed in a vertical well or a horizontal loop. Horizontal loop is usually the most cost effective, and vertical loop is primarily used where there is little yard space or when surface rocks make drilling difficult because of high drilling costs.

Here are also few words about the geothermal heat pump economics. The installation price of a typical geothermal system is in many cases at least double the price of conventional system. In average, a geothermal heat pump system costs about $2,500 per ton of capacity, and the average household would require a three-ton unit costing around $7,500. This is not the final cost, as you also have to add the costs of drilling, and these costs can significantly vary depending on the area you live in and the quality of terrain. If for instance your system needs to be drilled vertically deep underground then we are talking about major drilling costs, in range from $10,000 to $30,000, or even more.

Installation costs are relatively high but you can very soon return your investment, in energy savings, in return period from 3 to 10 years. This return period doesn't sound bad, particularly when you consider that system life is estimated at 25 years for inside components and 50+ years for the ground loop. The additional advantages of these systems are that components inside the house are small and easily accessible which doesn’t mean difficult maintenance, and the entire system works silently because unlike air conditioners these systems have no outside condensing units.

The popularity of geothermal heat pumps continues to grow as each year more than 50,000 new geothermal heat pumps gets installed across the United States. On global level there are already more than a million installed units providing around 12 GW of thermal capacity, with an annual growth rate of 10%.

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