NEW YORK, April 27, 2016 /PRNewswire/ -- Energy Conservation Standard by DoE for the US Pumps Market : Lifecycle Cost Benefits Likely to Offset the High Initial Investments
The US Department of Energy (DoE) launched the Energy Conservation Standard for Pumps in the US market in December 2015. As a result of the standard, which sets the minimum efficiency for a given pump model, a quarter of the pumps installed in the United States are expected to be replaced with higher efficiency pumps. All pump manufacturers supplying to the US market are to adhere to this standard by 2020. This report describes the scope of the standard and highlights the impact it will have on the pump manufacturers supplying to the US market.
The Energy Conservation Standard (ECS) released by Department of Energy (DoE) is the first of its kind to regulate the efficiency of pumps in the United States.
As a result of the standard, which sets the minimum efficiency for a given pump model, a quarter of the pumps installed in the United States are expected to be replaced with higher efficiency pumps.
The initial setup costs for pumps is only - % of their lifecycle costs. The remaining - % of lifecycle costs are incurred in fuel and maintenance.
The average lifecycle cost savings are expected to be positive, that is, the payback period is expected to be less than the average lifetime of pumps, which is estimated to be years.
This regulation is to come into effect from 2020. As a result of this regulation, a savings of quadrillion British thermal units (BTUs) is expected to be saved between 2020 and 2050.
The final ruling of the Energy Conservation Standard (ECS) was released by the Department of Energy (DoE) in December 2015 and the regulation comes into effect from 2020.
The clear water pumps market constituted % of the overall pumps market in the US and generated a revenue of $ Billion in 2015.
The value of clear water pumps that are expected to be replaced between 2016 and 2020 as a result of the regulation is expected to be $ Billion.
The clear water pumps market in the US is expected to have a compound annual growth rate (CAGR) of % between 2016 and 2021 and generate a revenue of $ Billion by 2021.
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