Geothermal Heat Pump Market to Triple by 2020

There has been an uptick of interest in renewable energy heating and cooling in the past year, with several U.S. states and other countries establishing favorable incentives. After a two-year slump due to the global economic downturn, Navigant Research predicts that the geothermal heat pump market (GHP) will nearly triple to $17.2 billion by 2020, which is a “slow but steady growth” for the industry, according to Navigant analyst Mackinnon Lawrence.

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