Analysis : Ground Source Heat Pumps Essay

1545 Words Oct 25th, 2016 7 Pages
Ground Source Heat Pumps
Blain R. Gerhart
The University of Oklahoma

Currently, the nation is experiencing an economic downturn in the oil and natural gas industries which has reduced the price of fossil fuels, thus reducing the price of monthly utility bills for homeowners and businesses alike. While this is presently great news for the “Average Joe’s” wallet, we are neglecting the fact that fossil fuels are finite resources that will eventually be depleted. Additionally, it should also be noted that total energy consumption in the United States continues to increase every year. Per the U.S. Energy Information Administration’s interactive data analysis website, energy retail sales to the commercial sector alone have increased over 4,409 trillion BTUs (British Thermal Units) between the years 1950 to 2015. Comparatively, the total energy consumed from renewable resources has only increased 187.457 trillion BTUs between the years 1956 to 2015 (Table 2.3 Commercial Sector Energy Consumption). Unfortunately, it appears as though the old saying “A dollar today is worth more than a dollar tomorrow,” describing the time value of money idea, has the majority of the U.S. population focused on what is the best deal in the here and now. In terms of logic, this way of decision making is costing the average individual more money than if they had instead addressed the overall life cycle costs associated with that specific item or system. This paper will focus…

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