Geothermal Power and Heat Pump Market
Global Geothermal Power and Heat Pump Market: Overview
Geothermal power and heat pump is also known by a ground source heat pump. It is a central water heating system which uses geothermal energy to heat water. Geothermal power and heat pump is energy-efficient and is largely used in a number of applications such as harvested rainwater, recycled water, sewage treatment plant, surface water, and retention basin stormwater. These geothermal power and heat pumps are the cost-efficient and high performance in nature. For example, Nortek Global HVAC, a subsidiary of Nortek, Inc. introduced a new geothermal heat pump system in the market. It needs less drilling compared to other geothermal systems.
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Global Geothermal Power and Heat Pump Market: Growth Factors
Consumers opt for cheap sources of energy owing to increasing electricity and oil prices. This is expected to drive the global market growth. Due to environmental benefits and cost saving benefits, geothermal power and heat pump market is anticipated to witness considerable growth in the near future. A government initiative to offer attractive benefits on an installation of the