- Approximately 85,000 Geothermal Heat Pumps (GHPs) are installed annually throughout the United States, each with an average capacity of 3 tons, resulting in a cumulative annual GHP capacity of 255,000 tons.
- The typical efficiency of newly installed GHP systems stands at 400% (COP4), with 75% of the thermal production being sourced from renewable energy derived from the Earth.
- Annually, the installed GHP capacity in the United States amounts to 897 megawatts (MWTH), of which 75%, equivalent to 672 MWTH, is renewable energy from the Earth. This equates to displacing the energy output of three average coal-fired power plants every decade.
- The installation of GHPs contributes to offsetting approximately 1,242,528 tons of CO2 emissions annually, equivalent to removing nearly 220,000 passenger cars from the nation’s highways each year.
- Currently, the average cost for residential GHP system installation is $20,000, subject to variations based on factors such as building size, heating and cooling load, and drilling expenses.
- Considering the current installation rate of 85,000 units per year and an average cost of $20,000 per unit, the GHP industry in the United States generates revenue of approximately $1.7 billion annually.
- According to estimates by the Geothermal Exchange Organization (GEO), there are approximately 1.5 million GHP units installed across the United States.
- Collectively, GHP installations in the United States offer energy equivalent to 15,750 MWTH, with 75% of this energy, amounting to 11,810 MWTH, being renewable energy sourced from the Earth.
- Over the past decade, the number of GHP installations in the United States has doubled, indicating a significant growth trend.