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High-efficiency heat pumps: an easy solution for buildings.
Buildings and construction account for about 38% of global CO2 emissions and 35% of total energy use. Much of the energy used in buildings is to keep our homes and buildings lit and keep them at an optimal temperature.
What's more, with continuing urbanization around the world, we're going to be building a lot more buildings over the next few decades. We need to figure out how to cut emissions from buildings.
Fortunately, solutions to building emissions are well established, well understood and profitable. High-efficiency heat pumps are one of them. They're the technology that can improve heating and cooling efficiency most effectively by extracting heat from the air and transferring it from the inside to the outside for cooling, and from outdoors in for heating. The ground air, or water can be the source of outlet for that heat.
We need more high-efficiency heat pumps.
Right now, high-efficiency heat pumps are used in only 3% of commercial and residential building space worldwide. If 4.3% of building spaces would install efficient heat pumps, they can help avoid 9.3 gigatons of greenhouse gases by 2050.
Doing this won't be hard. Old, energy inefficient buildings can be retrofitted with efficient HVAC systems. New buildings can be built with brand new materials and systems from the start. Project Drawdown estimates that getting to 4.3% adoption by 2050 would cost $2.5 trillion in lifetime operating costs, but it would help avoid $117 billion in net costs. Those are big savings.
These companies are making it happen.
Here are the publicly traded companies that are making this happen. The Climate Index includes companies that help expand the grid that are traded on US stock markets and that derive more revenue from this Drawdown solution than from revenue that depends on fossil fuels. And as always, we don't include punny stocks whose share prices were less than $0.50 in our last update.
If you are a Carbon Collective member, you own all of these companies through the Climate Index.
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|Carrier Global (CARR)||
Carrier equips buildings with high-efficiency HVAC systems to improve energy efficiency - key to cutting emissions in the building sector
|Trane Technologies (TT)||
Trane makes and sells AC, building management, heat pumps, and refrigeration systems, helping buildings achieve energy efficiency and emission cuts
|Lennox International (LII)||
Lennox makes high-efficiency heating, ventilation, air conditioning and refrigeration products, helping building managers cut energy use and emissions