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Assessing the Value of Efficiency: Analyzing the Cost-Benefit Relationship of Heat Pumps in Europe
As Europe moves towards a renewable energy future, heat pumps are becoming a key technology for reducing dependence on fossil fuels in building heating systems. These systems, which extract energy from air or ground sources, offer a significant advantage over traditional heating methods. However, the high cost of electricity in Europe compared to gas or oil means that the operational efficiency of heat pumps is crucial for them to remain an affordable or cost-saving alternative to combustion-based systems.
European manufacturers currently lead in offering the most efficient heat pumps in Europe, but this efficiency comes at a price. High initial investment costs for premium brands often deter buyers, even though these models may offer better long-term savings. One of the most important metrics for consumers is the coefficient of performance (COP), yet understanding how much more to invest for a higher efficiency rating remains unclear for many buyers.
This thesis will explore the relationship between the costs and efficiency of heat pumps available in Europe, aiming to provide insights into whether paying more upfront for a more efficient model is a worthwhile investment in the long run.
Keywords: market analysis, heat pump efficiency, data analytics, web scraping
Whom we are looking for:
- A motivated student pursuing studies in Engineering, Energy Science, Data Science, Business, or related fields;
- A self-driven individual who works independently, is results-oriented and is eager to deliver impactful outcomes with the potential to publish their findings;
- Prior experience in web scraping or/and data analysis using Python is a plus.
What we offer:
- A project that will help you develop valuable technical, analytical, and market analysis skills;
- The opportunity to conduct research on a high-impact topic within the sustainable energy sector;
- A results-driven research environment.
Whom we are looking for: - A motivated student pursuing studies in Engineering, Energy Science, Data Science, Business, or related fields; - A self-driven individual who works independently, is results-oriented and is eager to deliver impactful outcomes with the potential to publish their findings; - Prior experience in web scraping or/and data analysis using Python is a plus.
What we offer: - A project that will help you develop valuable technical, analytical, and market analysis skills; - The opportunity to conduct research on a high-impact topic within the sustainable energy sector; - A results-driven research environment.
Research Question: To what extent is the higher initial investment in more efficient heat pumps justified by long-term operational cost savings in the European market for residential buildings?
Research Question: To what extent is the higher initial investment in more efficient heat pumps justified by long-term operational cost savings in the European market for residential buildings?
Please contact me with your CV and your up-to-date transcripts of records (Bachelor's and Master's). An overview of completed projects can be an advantage.
Ugne Potthoff | PhD Candidate and Research Assistant
ETH Zurich | Bosch IoT Lab | Weinbergstrasse 56/58 | 8092 Zurich | Switzerland
University St. Gallen | Bosch IoT Lab | Dufourstrasse 40a | 9000 St. Gallen | Switzerland
Internet www.iot-lab.ch
Please contact me with your CV and your up-to-date transcripts of records (Bachelor's and Master's). An overview of completed projects can be an advantage.
Ugne Potthoff | PhD Candidate and Research Assistant ETH Zurich | Bosch IoT Lab | Weinbergstrasse 56/58 | 8092 Zurich | Switzerland University St. Gallen | Bosch IoT Lab | Dufourstrasse 40a | 9000 St. Gallen | Switzerland Internet www.iot-lab.ch
Master thesis - Costs of Efficiency.pdf
