Study on the Introduction of Heat Pumps and Once-Through Boilers to Support GX in Asia

By ERIA Asia Zero Emission Center Nomura Research Institute Singapore Pte. Ltd. Study on theIntroductionof Heat Pumpsand Once-Through Boilersto Support GXin Asia Economic Research Institute for ASEAN and East Asia (ERIA)Sentral Senayan II 6thFloorJalan Asia Afrika No. 8, Gelora Bung KarnoSenayan, Jakarta Pusat 12710Indonesia © Economic Research Institute for ASEAN and East Asia, 2024ERIA Research Project Report FY2024 No.29Published in January 2025 All rights reserved. No part of this publication may be reproduced, stored in a retrieval system,or transmitted in any form by any means electronic or mechanical without prior written noticeto and permission from ERIA. The findings, interpretations, and conclusions expressed herein do not necessarily reflect theviews and policies of the Economic Research Institute for ASEAN and East Asia, its GoverningBoard, Academic Advisory Council, or the institutions and governments they represent. Material in this publication may be freely quoted or reprinted with proper acknowledgement. Preface The introduction of high-energy-efficiency equipment, such as heat pumps and once-through boilers, stands as a pivotal advancement in our journey towards sustainableenergy use and carbon neutrality in Asia. This project aims to explore and demonstratethe feasibility and benefits of these technologies in Viet Nam, Thailand, and India. Asia's rapid economic growth has been accompanied by a substantial increase in energydemand and associated carbon emissions. This reality underscores the urgency ofimplementingdecarbonisation strategies in the region while ensuring continuedeconomic growth and energy security for its developing countries. The core objective of this project is to support the global transition towards a greenerfuture by promoting the adoption of industrial heat pumps, commercial heat pump waterheaters, refrigeration and freezing equipment, and small once-through boilers. Thesetechnologies offer substantial energy-saving potential by leveraging the principles of heattransfer, which can significantly reduce the carbon footprint of heating and coolingprocesses. This phase focuses on establishing partnerships with local entities and identifying usercompanies for trial projects. By engaging with local companies and conducting userseminars, we aim to raise awareness and facilitate the integration of these high-energy-efficiency systems. The authors hope that this study will not only advance the adoption of energy-efficienttechnologies in Asia but also serve as a model for other regions striving for sustainabledevelopment. Through concerted efforts and continuous innovation, we believe thatachieving carbon neutrality is within our reach, paving the way for a cleaner and moreresilient future. Acknowledgements This study was undertaken based on close collaboration with industry specialists andgovernment who are focused on carbon reduction and energy efficiency improvementissues in Asia (specifically Viet Nam, Thailand, and India). The authors particularly wouldlike to thank all the participants in the various meetings and seminars, as well as otherparticipants who were involved in the project in one way or another. The presentations at the workshop – held by the government authorities, industry players,and other stakeholders – and ensuing discussions will play a pivotal role in providingdirection and inspiring relevant parties to develop future strategies and policy measuresto support carbon reduction and energy efficiency improvement activities. The authors would like to express sincere appreciation for kind and generous support forthis study, without which this report would not be possible. All errors and mistakes arethe authors' responsibility. List of Project Members Project Coordinator Kei SudoProgramme Manager on Energy Member Sayo HosoiAssistant Programme Manager on EnergyNomura Research Institute Singapore Pte. Ltd. Project Manager Hiroshige MuraokaPresident ProjectLeaderYuki SanoManager Members Nicholas Wong Wei YongSenior ConsultantThi Thu Trang Pham (Tracy)Senior ConsultantZheng Chong EmilyConsulting AssistantNRI Consulting & Solutions (Thailand) Co., Ltd. Project Leader Paweetida Sungwornpatansakul (Por)Senior Consultant Members Chayanit Panitvitidkul (Now)Consultant Project Leader Raksha JainDeputy Senior Consultant Members Nirant PatilDeputy Senior ConsultantSamvartasom Pathak (Som)Associate Consultant Table of Contents Prefaceiii Acknowledgementsiv List of Project Membersv List of Figuresviii x List of TablesList of Abbreviations and Acronymsxii Executive Summaryxiii Chapter 1Project Introduction1 Chapter 2 IndustryInsights Regarding High EnergyEfficiencyEquipment Chapter 3PotentialContribution to Achieving Carbon Neutralitythroughthe Introduction of High Energy EfficiencyEquipment59 Chapter 4Proposed Measures to Introduce High Energy EfficiencyEquipment63 Chapter 5Conclusion77 References78 List of Figures Figure 1