Study Examines Benefits of the Use of Geothermal Energy in Non-Commercial Buildings
The evolving geothermal heating and cooling technologies could be the wave of the future in cutting the cost of operating commercial and other non-residential buildings once businesses can get past the initial cost, according to a study by Frost & Sullivan, a market research and analysis firm in San Antonio, TX. The market already is expanding. It received revenue of $120.8 million in 2012, and the Geothermal Market is expected to reach $147.6 Million by 2017, thanks in part to laws in Canada and the U.S. promoting geothermal and other renewable energy sources. Laws already on the books include the Energy Independence and Security Act of 2007 and the earlier Energy Policy Act of 2005. The study looked at the period between 2009 and 2017 and identifies geothermal heat pumps, both open and closed loop designs, as primary segments of the geothermal market on the North American continent. The Higher Energy Efficiency of Geothermal Heating and Cooling has long been apparent. The ground at about 10 feet deep is warmer in the winter and cooler in the summer than the air above it, with a constant temperature of between 50 and 60 degrees Fahrenheit. Geothermal heat pumps take advantage of