Keep pulling the thread on Steve Pantano.
In the United States, heat pumps outsold gas and oil furnaces for the first time in 2022, and this trend has continued.
To meet its 2050 decarbonization goals, Rewiring America estimates the U.S. needs 7.7 million heat pump sales between 2023 and 2025, which is 2.5 million more than the business-as-usual projection of 5.3 million.
The Inflation Reduction Act provides approximately $9.5 billion in rebates for home efficiency and electrification.
In the United States, so-called "kitchen table decisions" about home equipment, car choice, and solar adoption account for approximately 42% of overall energy-related emissions.
The overall market for heat pump sales in the United States has declined year-over-year.
According to the Department of Energy's Residential Energy Consumption Survey (RECS), heating and cooling systems account for approximately 55% of the emissions from an average U.S. home.
As of August 2023, U.S. heat pump shipments slowed by 9.5% year-to-date, totaling 2.7 million units, while gas and oil furnace sales declined by 25% over the same period, according to AHRI data.
The state of Maine exceeded its climate goal of 100,000 heat pump sales several years ahead of schedule and has since revised its target upward to 175,000 systems.
Exxon's profit in 2022 was $54 billion, which is approximately six times the total amount of home electrification rebates available in the Inflation Reduction Act.
To meet 2050 decarbonization goals, the U.S. needs to install 810,000 heat pump water heaters by 2025, creating a gap of approximately 204,000 units compared to the current pace of 613,000.
A.O. Smith has introduced a 120-volt plug-in heat pump water heater, a product category where Rheem already has an offering.
To meet decarbonization goals, the U.S. needs 3.2 million induction stove sales by 2025, which is more than double the business-as-usual projection of 1.5 million sales for the same period.