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Title: Strategic business development for decarbonization: A conceptual model for expanding heat pump solutions in U.S. District energy markets
Authors: Omobolanle Omowunmi Dosumu, Olugbenga Adediwin, Emmanuella Onyinye Nwulu, Andrew Ifesinachi Daraojimba
Journal: International journal of management & entrepreneurship research
Year: 2024
Volume: 6
Issue: 12
Language: en
DOI: 10.51594/ijmer.v6i12.1853
As the U.S. aims for ambitious decarbonization goals, expanding the adoption of heat pump solutions in district energy systems offers significant potential for reducing carbon emissions in urban infrastructure. This paper presents a conceptual model for strategic business development focused on decarbonizing U.S. district energy markets through the integration of advanced heat pump technologies. The proposed model outlines the key drivers of market expansion, including technological innovation, regulatory support, and business collaboration. The model emphasizes the integration of high-efficiency heat pump systems with renewable energy sources, such as solar and geothermal, to optimize energy use in district heating and cooling networks. It explores the economic and environmental benefits of heat pump adoption, including reduced operational costs, improved system reliability, and enhanced sustainability. Additionally, the model highlights the role of digital technologies like smart meters and energy management systems in improving operational efficiency and enabling real-time monitoring and control of district energy networks. A critical aspect of the model is the identification of strategic business opportunities for stakeholders in the district energy sector, such as utilities, technology providers, and policymakers. The paper discusses business strategies for overcoming barriers to adoption, including high upfront costs, lack of consumer awareness, and regulatory complexities. It also examines the importance of incentives, subsidies, and public-private partnerships in accelerating market penetration. By addressing the technical, financial, and regulatory challenges, this conceptual model provides a roadmap for advancing heat pump solutions in U.S. district energy markets. It offers actionable recommendations for stakeholders to align their strategies with national decarbonization goals, positioning heat pump technologies as a cornerstone of sustainable urban energy systems.
Keywords: Decarbonization, Heat Pumps, District Energy Markets, U.S. Energy Policy, Renewable Energy Integration, Business Development, Energy Efficiency, Smart Meters, Market Expansion, Sustainability.
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