Study on the Introduction of Heat Pumps and Once-Through Boilers to Support GX in Asia

Asia Zero Emission Center Eria and Nomura Research Institute Singapore

No 2024-RPR-29 in Books from Economic Research Institute for ASEAN and East Asia (ERIA)

Abstract: Rapid economic growth in Asia – particularly in Viet Nam, Thailand, and India – has driven higher energy demand and carbon emissions, underscoring the need for sustainable energy solutions. Heat pumps and once-through boilers are efficient technologies with significant potential to reduce energy use and carbon emissions in industrial sectors. Despite their benefits, adoption is limited due to high upfront costs, lack of awareness, technical challenges, and insufficient policy support. To overcome these barriers, the report recommends five strategies: financial schemes like leasing options, awareness campaigns, technical training, policy support to create standards, and increased collaboration amongst stakeholders. We believe that by integrating these technologies into national and regional energy strategies, these countries can advance towards carbon neutrality, reduce their environmental impact, and set a global example for sustainable development.

Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:era:eriabk:2024-rpr-29

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