LG Electronics North America has revealed for the first time its plans to manufacture 100% electric heat pumps in the United States.
“The market transformation enabled by heat pump technologies will accelerate the realization of the long-awaited promise of the smart home combined with today’s zero-carbon lifestyle,” Yoon told White House officials, including US Energy Secretary Jennifer Granholm.
Yoon reportedly praised the US government’s investment in boosting demand through tax incentives and rebates, such as the Inflation Reduction Act (IRA). However, he pointed out that market entry is still limited by a lack of awareness of the benefits of heat pump technology.
“From our point of view, the bigger problem is not supply but demand. We applaud the government’s large investments to boost demand through tax incentives and rebates, Cooling Post quoted Yoon as saying. “Unawareness and ignorance of the benefits of heat pump technology is, however, an obstacle to entering the market.”
“The market transformation enabled by heat pump technology is being accelerated by the realization of the long-awaited promise of the smart home and today’s emphasis on carbon-free living,” Thomas Yoon, CEO of LG Electronics North America, told White House officials today. pic.twitter.com/XR99mHvt0h
— LG HVAC USA (@LGHVACUSA) April 4, 2023
