As global energy systems face increasing pressure to decarbonize, Genius Energy Lab, an innovator in ground source heat pump (GSHP) technology, has released its 2024 GSHP Industry Report.
sustainable solutions
This in-depth study offers critical insights into the factors driving the adoption of GSHPs, highlighting both the opportunities for long-term energy savings and the regulatory and cost challenges still hindering their widespread use.
As the push for sustainable solutions intensifies, this report outlines the path forward for increasing GSHP adoption to help meet global climate goals.
Key Findings
- A Push Towards Sustainability, With Barriers in the Way
50% of respondents identified the technology's low running costs as a primary driver for consideration
The report reveals that 60% of respondents are motivated by GSHP’s superior carbon reduction capabilities, recognizing its potential to significantly reduce emissions. Additionally, 50% of respondents identified the technology's low running costs as a primary driver for consideration, while 45% cited enhanced energy security as a vital benefit.
Despite these advantages, the high upfront costs remain a deterrent, with 40% of industry stakeholders citing a lack of understanding about the technology as a critical barrier to wider adoption.
- 'A Strong Case for GSHP, But There’s More Work to Do'
Richard Davis, CEO of Genius Energy Lab, emphasized the importance of the findings in shaping the future of GSHP technology, stating "We believe GSHPs are a pivotal solution in the transition to sustainable energy, but it's clear from our research that the industry must do more to break down the perceived current adoption barriers."
He adds, "Genius Energy Lab is committed to leading this charge, providing innovative solutions, and working with regulatory bodies to make the process easier for all stakeholders."
savings and energy efficiency
Although upfront costs are higher, 33% of respondents appreciate the long-term savings
The report, based on insights from 64 industry pioneers and stakeholders, identifies the total cost of ownership as a crucial deciding factor for those considering GSHP over alternative technologies.
Although upfront costs are higher, 33% of respondents appreciate the long-term savings and superior energy efficiency that GSHP systems offer.
Next Steps: Education, Collaboration, and Policy Reform
To drive broader adoption of GSHP technology, the report outlines several key recommendations, including:
- Enhancing financial education and support to communicate the long-term benefits of GSHP.
- Streamlining regulatory processes to simplify the permitting and installation of GSHP systems.
- Developing targeted educational initiatives aimed at bridging the knowledge gap for builders, architects, and decision-makers.
Upcoming Webinar
Genius Energy Lab will be hosting a webinar on 10th December at 1 pm GMT to discuss the key findings of the 2024 GSHP Industry Report: What's the Hold Up on Ground Source Heat Pumps?
This event will provide attendees with exclusive insights from the report, expert commentary on overcoming adoption barriers, and actionable steps for decision-makers in the GSHP space.
