IDEAS home Printed from https://ideas.repec.org/a/gam/jsusta/v13y2021i22p12516-d677826.html
   My bibliography  Save this article

A Spatially-Explicit Economic and Financial Assessment of Closed-Loop Ground-Source Geothermal Heat Pumps: A Case Study for the Residential Buildings of Valle d’Aosta Region

Author

Listed:
  • Antonio Novelli

    (Planetek Italia, Via Massaua 12, 70132 Bari, Italy
    Institute for Renewable Energy, European Academy of Bolzano (EURAC Research), Viale Druso 1, 39100 Bolzano, Italy)

  • Valentina D’Alonzo

    (Institute for Renewable Energy, European Academy of Bolzano (EURAC Research), Viale Druso 1, 39100 Bolzano, Italy)

  • Simon Pezzutto

    (Institute for Renewable Energy, European Academy of Bolzano (EURAC Research), Viale Druso 1, 39100 Bolzano, Italy)

  • Rubén Aarón Estrada Poggio

    (Institute for Renewable Energy, European Academy of Bolzano (EURAC Research), Viale Druso 1, 39100 Bolzano, Italy)

  • Alessandro Casasso

    (Department of Environment, Land and Infrastructure Engineering (DIATI), Politecnico di Torino, Corso Duca degli Abruzzi 24, 10129 Torino, Italy)

  • Pietro Zambelli

    (Institute for Renewable Energy, European Academy of Bolzano (EURAC Research), Viale Druso 1, 39100 Bolzano, Italy)

Abstract

Ground Source Heat Pumps (GSHPs) take advantage of the high thermal inertia of the ground to achieve a higher energy efficiency compared to Air Source Heat Pumps. GSHPs, therefore, have the potential to reduce heating, cooling, and domestic hot water costs, however the high installation cost of borehole heat exchangers (BHEs) limits the growth of such installations. Nevertheless, GSHPs can be profitable under certain conditions (climate, expensive fuels, subsidies, etc.), which can be identified using geo-referenced data and Geographical Information Systems (GIS). The proposed work investigates the economic and financial ability of GSHPs to cover the heat demand of the residential building stock of the Italian region Valle d’Aosta. To identify the opportunities offered by GSHPs in the Valle d’Aosta region, more than 40,000 residential buildings were analyzed using a GIS-based method. The return on the investment was then assessed based on the occurrence of two conditions—the Italian subsidies of the “Conto Termico” and the installation of rooftop photovoltaic (PV) systems—which contribute to the reduction of the initial and operation costs, respectively. The life-cycle costs of the four resulting combinations were compared with conventional systems composed of an oil/gas boiler and an air-source chiller. One of the main findings of this study is that subsidies exert a key role in the financial feasibility of GSHPs, especially for replacing gas boilers, whereas the presence of a PV system has a minor influence on the financial analysis carried out.

Suggested Citation

  • Antonio Novelli & Valentina D’Alonzo & Simon Pezzutto & Rubén Aarón Estrada Poggio & Alessandro Casasso & Pietro Zambelli, 2021. "A Spatially-Explicit Economic and Financial Assessment of Closed-Loop Ground-Source Geothermal Heat Pumps: A Case Study for the Residential Buildings of Valle d’Aosta Region," Sustainability, MDPI, vol. 13(22), pages 1-22, November.
    • Handle: RePEc:gam:jsusta:v:13:y:2021:i:22:p:12516-:d:677826
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/2071-1050/13/22/12516/pdf
    Download Restriction: no
    File URL: https://www.mdpi.com/2071-1050/13/22/12516/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Jukka Heinonen & Jani Laine & Karoliina Pluuman & Eeva-Sofia Säynäjoki & Risto Soukka & Seppo Junnila, 2015. "Planning for a Low Carbon Future? Comparing Heat Pumps and Cogeneration as the Energy System Options for a New Residential Area," Energies, MDPI, vol. 8(9), pages 1-18, August.
    2. Dickinson, James & Jackson, Tim & Matthews, Marcus & Cripps, Andrew, 2009. "The economic and environmental optimisation of integrating ground source energy systems into buildings," Energy, Elsevier, vol. 34(12), pages 2215-2222.
    3. Florides, Georgios & Kalogirou, Soteris, 2007. "Ground heat exchangers—A review of systems, models and applications," Renewable Energy, Elsevier, vol. 32(15), pages 2461-2478.
    4. Kikuchi, Emi & Bristow, David & Kennedy, Christopher A., 2009. "Evaluation of region-specific residential energy systems for GHG reductions: Case studies in Canadian cities," Energy Policy, Elsevier, vol. 37(4), pages 1257-1266, April.
    5. Nicola Bartolini & Alessandro Casasso & Carlo Bianco & Rajandrea Sethi, 2020. "Environmental and Economic Impact of the Antifreeze Agents in Geothermal Heat Exchangers," Energies, MDPI, vol. 13(21), pages 1-18, October.
    6. Simon Pezzutto & Reza Fazeli & Matteo De Felice & Wolfram Sparber, 2016. "Future development of the air-conditioning market in Europe: an outlook until 2020," Wiley Interdisciplinary Reviews: Energy and Environment, Wiley Blackwell, vol. 5(6), pages 649-669, November.
    7. Sivasakthivel, T. & Murugesan, K. & Sahoo, P.K., 2015. "Study of technical, economical and environmental viability of ground source heat pump system for Himalayan cities of India," Renewable and Sustainable Energy Reviews, Elsevier, vol. 48(C), pages 452-462.
    8. Badescu, Viorel, 2007. "Economic aspects of using ground thermal energy for passive house heating," Renewable Energy, Elsevier, vol. 32(6), pages 895-903.
    9. Self, Stuart J. & Reddy, Bale V. & Rosen, Marc A., 2013. "Geothermal heat pump systems: Status review and comparison with other heating options," Applied Energy, Elsevier, vol. 101(C), pages 341-348.
    10. Lu, Qi & Narsilio, Guillermo A. & Aditya, Gregorius Riyan & Johnston, Ian W., 2017. "Economic analysis of vertical ground source heat pump systems in Melbourne," Energy, Elsevier, vol. 125(C), pages 107-117.
    11. John W. Lund, 2010. "Direct Utilization of Geothermal Energy," Energies, MDPI, vol. 3(8), pages 1-29, August.
    12. Saner, Dominik & Juraske, Ronnie & Kübert, Markus & Blum, Philipp & Hellweg, Stefanie & Bayer, Peter, 2010. "Is it only CO2 that matters? A life cycle perspective on shallow geothermal systems," Renewable and Sustainable Energy Reviews, Elsevier, vol. 14(7), pages 1798-1813, September.
    13. Petit, P.J. & Meyer, J.P., 1998. "Economic potential of vertical ground-source heat pumps compared to air-source air conditioners in South Africa," Energy, Elsevier, vol. 23(2), pages 137-143.
    14. Bayer, Peter & Saner, Dominik & Bolay, Stephan & Rybach, Ladislaus & Blum, Philipp, 2012. "Greenhouse gas emission savings of ground source heat pump systems in Europe: A review," Renewable and Sustainable Energy Reviews, Elsevier, vol. 16(2), pages 1256-1267.
    15. Hakkaki-Fard, Ali & Eslami-Nejad, Parham & Aidoun, Zine & Ouzzane, Mohamed, 2015. "A techno-economic comparison of a direct expansion ground-source and an air-source heat pump system in Canadian cold climates," Energy, Elsevier, vol. 87(C), pages 49-59.
    16. Matteo Rivoire & Alessandro Casasso & Bruno Piga & Rajandrea Sethi, 2018. "Assessment of Energetic, Economic and Environmental Performance of Ground-Coupled Heat Pumps," Energies, MDPI, vol. 11(8), pages 1-23, July.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Edoardo Ruffino & Bruno Piga & Alessandro Casasso & Rajandrea Sethi, 2022. "Heat Pumps, Wood Biomass and Fossil Fuel Solutions in the Renovation of Buildings: A Techno-Economic Analysis Applied to Piedmont Region (NW Italy)," Energies, MDPI, vol. 15(7), pages 1-25, March.
    2. Carlos Lorente Rubio & Jorge Luis García-Alcaraz & Juan Carlos Sáenz-Diez Muro & Eduardo Martínez-Cámara & Agostino Bruzzone & Julio Blanco-Fernández, 2022. "Environmental Impact Comparison of Geothermal Alternatives for Conventional Boiler Replacement," Energies, MDPI, vol. 15(21), pages 1-15, November.
    3. Erika Buday-Bódi & Ali Irfan & Richard William McIntosh & Zsolt Zoltán Fehér & József Csajbók & Csaba Juhász & László Radócz & Arnold Szilágyi & Tamás Buday, 2022. "Subregion-Scale Geothermal Delineation Based on Image Analysis Using Reflection Seismology and Well Data with an Outlook for Land Use," Sustainability, MDPI, vol. 14(6), pages 1-21, March.
    4. Romanov, D. & Leiss, B., 2022. "Geothermal energy at different depths for district heating and cooling of existing and future building stock," Renewable and Sustainable Energy Reviews, Elsevier, vol. 167(C).

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Somogyi, Viola & Sebestyén, Viktor & Nagy, Georgina, 2017. "Scientific achievements and regulation of shallow geothermal systems in six European countries – A review," Renewable and Sustainable Energy Reviews, Elsevier, vol. 68(P2), pages 934-952.
    2. Bayer, Peter & Attard, Guillaume & Blum, Philipp & Menberg, Kathrin, 2019. "The geothermal potential of cities," Renewable and Sustainable Energy Reviews, Elsevier, vol. 106(C), pages 17-30.
    3. Karytsas, Spyridon & Choropanitis, Ioannis, 2017. "Barriers against and actions towards renewable energy technologies diffusion: A Principal Component Analysis for residential ground source heat pump (GSHP) systems," Renewable and Sustainable Energy Reviews, Elsevier, vol. 78(C), pages 252-271.
    4. Matteo Rivoire & Alessandro Casasso & Bruno Piga & Rajandrea Sethi, 2018. "Assessment of Energetic, Economic and Environmental Performance of Ground-Coupled Heat Pumps," Energies, MDPI, vol. 11(8), pages 1-23, July.
    5. Lu, Qi & Narsilio, Guillermo A. & Aditya, Gregorius Riyan & Johnston, Ian W., 2017. "Economic analysis of vertical ground source heat pump systems in Melbourne," Energy, Elsevier, vol. 125(C), pages 107-117.
    6. Ma, Zhenjun & Xia, Lei & Gong, Xuemei & Kokogiannakis, Georgios & Wang, Shugang & Zhou, Xinlei, 2020. "Recent advances and development in optimal design and control of ground source heat pump systems," Renewable and Sustainable Energy Reviews, Elsevier, vol. 131(C).
    7. Sivasakthivel, T. & Murugesan, K. & Sahoo, P.K., 2015. "Study of technical, economical and environmental viability of ground source heat pump system for Himalayan cities of India," Renewable and Sustainable Energy Reviews, Elsevier, vol. 48(C), pages 452-462.
    8. Soni, Suresh Kumar & Pandey, Mukesh & Bartaria, Vishvendra Nath, 2016. "Hybrid ground coupled heat exchanger systems for space heating/cooling applications: A review," Renewable and Sustainable Energy Reviews, Elsevier, vol. 60(C), pages 724-738.
    9. Sivasakthivel, T. & Murugesan, K. & Sahoo, P.K., 2014. "A study on energy and CO2 saving potential of ground source heat pump system in India," Renewable and Sustainable Energy Reviews, Elsevier, vol. 32(C), pages 278-293.
    10. Michopoulos, A. & Zachariadis, T. & Kyriakis, N., 2013. "Operation characteristics and experience of a ground source heat pump system with a vertical ground heat exchanger," Energy, Elsevier, vol. 51(C), pages 349-357.
    11. Gao, Jiajia & Li, Anbang & Xu, Xinhua & Gang, Wenjie & Yan, Tian, 2018. "Ground heat exchangers: Applications, technology integration and potentials for zero energy buildings," Renewable Energy, Elsevier, vol. 128(PA), pages 337-349.
    12. Hähnlein, Stefanie & Bayer, Peter & Ferguson, Grant & Blum, Philipp, 2013. "Sustainability and policy for the thermal use of shallow geothermal energy," Energy Policy, Elsevier, vol. 59(C), pages 914-925.
    13. Blum, Philipp & Campillo, Gisela & Kölbel, Thomas, 2011. "Techno-economic and spatial analysis of vertical ground source heat pump systems in Germany," Energy, Elsevier, vol. 36(5), pages 3002-3011.
    14. Li, Min & Lai, Alvin C.K., 2015. "Review of analytical models for heat transfer by vertical ground heat exchangers (GHEs): A perspective of time and space scales," Applied Energy, Elsevier, vol. 151(C), pages 178-191.
    15. de Moel, Monique & Bach, Peter M. & Bouazza, Abdelmalek & Singh, Rao M. & Sun, JingLiang O., 2010. "Technological advances and applications of geothermal energy pile foundations and their feasibility in Australia," Renewable and Sustainable Energy Reviews, Elsevier, vol. 14(9), pages 2683-2696, December.
    16. Böttcher, Fabian & Casasso, Alessandro & Götzl, Gregor & Zosseder, Kai, 2019. "TAP - Thermal aquifer Potential: A quantitative method to assess the spatial potential for the thermal use of groundwater," Renewable Energy, Elsevier, vol. 142(C), pages 85-95.
    17. Jimin Kim & Taehoon Hong & Myeongsoo Chae & Choongwan Koo & Jaemin Jeong, 2015. "An Environmental and Economic Assessment for Selecting the Optimal Ground Heat Exchanger by Considering the Entering Water Temperature," Energies, MDPI, vol. 8(8), pages 1-25, July.
    18. Javadi, Hossein & Mousavi Ajarostaghi, Seyed Soheil & Rosen, Marc A. & Pourfallah, Mohsen, 2019. "Performance of ground heat exchangers: A comprehensive review of recent advances," Energy, Elsevier, vol. 178(C), pages 207-233.
    19. Sebarchievici, Calin & Sarbu, Ioan, 2015. "Performance of an experimental ground-coupled heat pump system for heating, cooling and domestic hot-water operation," Renewable Energy, Elsevier, vol. 76(C), pages 148-159.
    20. García-Gil, Alejandro & Muela Maya, Sylvia & Garrido Schneider, Eduardo & Mejías Moreno, Miguel & Vázquez-Suñé, Enric & Marazuela, Miguel Ángel & Mateo Lázaro, Jesús & Sánchez-Navarro, José Ángel, 2019. "Sustainability indicator for the prevention of potential thermal interferences between groundwater heat pump systems in urban aquifers," Renewable Energy, Elsevier, vol. 134(C), pages 14-24.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jsusta:v:13:y:2021:i:22:p:12516-:d:677826. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.