US Government Allocates $85 Million to Boost Electric Heat Pump Manufacturing
US: The U.S. government has announced an $85 million investment in four heat pump manufacturers under the Defense Production Act to accelerate the production of electric heat pumps. This funding will enable U.S. manufacturing of an additional 155,000 residential heat pumps, 440,000 residential heat pump water heaters, 2,000 school heat pumps, and 20,000 large heat pump compressors annually. The selected projects are part of the second round of awards from the Department of Energy (DOE) and will take place in New York, Tennessee, Texas, and Rhode Island.
In a related development, Bosch is acquiring the Johnson Controls-Hitachi Air Conditioning (JCH) joint venture in an $8 billion deal, marking its largest acquisition ever and positioning Bosch to dominate the global residential HVAC market.
The DOE also announced a $2.2 billion investment for eight projects across 18 states to enhance grid reliability and protect against extreme weather events. This investment, funded by the Bipartisan Infrastructure Law’s Grid Resilience and Innovation Partnerships (GRIP) Program, will add nearly 13 gigawatts of grid capacity, including 4,800 megawatts of offshore wind. The investments aim to lower energy costs, create jobs, and strengthen the resilience of the nation's power grid in the face of climate change.
Source: EENEWS Europe
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