D9.2 Market Analysis (version 1)
Shallow geothermal energy (SGE) technology is an emerging market and is poised to sustain growth based on its feasibility around the globe irrespective of terrain. This can be duly attributed to awareness of public towards climate change and need to switch to renewables in addition to long term objectives of government policies for decarbonizing residential energy consumption with special focus on heating and cooling. The deliverable aims at a public understanding of the latest trends in the SGE market at global, European, and selected national scales. This report sets a platform for strategizing future business model development and supporting the exploitation activities. The reports also address the key issues that is set to influence the GEOFIT acceptance which starts with an overview of SGE systems and current trends in worldwide canvas and European perspective with special focus on four identified pilot countries. This report further analysis the barriers, the value chain and the importance of synergy between different stakeholders that will ease the adoption/acceptance of GEOFIT in SGE or the heating and cooling market. The preliminary market potential assessment sets a foundation to further assess the pilot site countries under a business case format in subsequent months of the project. The GSHP competitor analysis was carried out based on functionality of well-known GSHP brands available in the European market. The scope of this deliverable is a general overview of SGE-related topics that serves as a foundation to map the market analysis and market watch activities within GEOFIT to exploitation planning by going deeper into each key exploitable result as a distinctive market to be explored.