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