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Market Potential for Residential Biomass Heating Equipment: Stochastic and Econometric Assessments

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  • Adee Athiyaman

    (Western Illinois University, Macomb, IL, USA)

Abstract

This paper provides estimates of market potential for biomass-residential-heating equipment in the US: that is, the greatest amount of biomass-residential-heating equipment that can be sold by the industry. The author's analysis is limited to biomass equipment used most to heat the housing unit. Assuming that households equipped with 10+ year old primary heating devices will replace rather than repair the devices he predicts that approximately 1.4 million units of residential home heating equipment will be replaced in 2015. The author's research also shows that customers do not ascribe much value to biomass home heating. The marketing implication for such a “negative” state is to find buyers who greatly value the benefits of biomass heating equipment.

Suggested Citation

  • Adee Athiyaman, 2015. "Market Potential for Residential Biomass Heating Equipment: Stochastic and Econometric Assessments," International Journal of Sustainable Economies Management (IJSEM), IGI Global, vol. 4(3), pages 1-15, July.
    • Handle: RePEc:igg:jsem00:v:4:y:2015:i:3:p:1-15
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