Summary: Heat pumps are not just for heating our homes, they can play an important role in decarbonising industry. Despite electric heat pumps being a promising alternative for an efficient and emission-free supply of process heat at technically feasible temperatures, industrial heat pump (IHP) deployment has been limited. But is that about to change?
Why this is important: This is a market where Europe and Japan could gain competitive advantage.
The big theme: Heavy industry is responsible for approximately 20 per cent of global CO₂ emissions, plus process industries are also major consumers of energy, making them primate candidates for electrification. The sheer scale of the net-zero electricity and/or hydrogen required means that it will take decades to implement the new technologies we require, attracting billions of dollars in investment and generating thousands of new jobs. Products such as ‘green steel’, made using hydrogen rather than coal, represent a huge opportunity for investors.
Summary of a story from Berkley Labs:
Thermal processes in U.S. manufacturing are responsible for approximately two-thirds of total final energy demand. Decarbonization of industrial heat demand through electrification could contribute significantly to climate change mitigation efforts. Electrification technologies that are applicable to a range of industrial processes, without needing major modifications to the existing infrastructure, may help facilitate the clean energy transition.