The North American unit of South Korea-based LG Electronics has revealed that it is finalizing its plans to open its first heat pump factory in the United States. The CEO of LG Electronics North America, Thomas Yoon, disclosed the company’s intentions this week during a White House executive roundtable on heat pump production and deployment, according to the company's LinkedIn account. The factory will reportedly manufacture indoor, 100% electrical units, with plans to produce outdoor heat pumps at some point in the future.
“The market transformation enabled by heat pump technologies will be accelerated by delivering on the long-awaited promise of the smart home, coupled with today’s emphasis on a zero-carbon lifestyle,” Yoon told White House officials, including US Energy Secretary Jennifer Granholm.
Yoon reportedly praised the US government’s investments for driving demand through tax incentives and rebates such as the Inflation Reduction Act (IRA). However, he noted that market uptake is still limited by a lack of awareness of the benefits of heat pump technology.
“From our perspective, the bigger issue is not supply but demand. We applaud the government’s major investments in driving demand through tax incentives and rebates,” Cooling Post cited Yoon as saying. “However, lack of awareness and familiarity about the benefits of heat pump technology is a barrier to market adoption.”
“The market transformation enabled by heat pump technologies will be accelerated by delivering on the long-awaited promise of the smart home, coupled with today’s emphasis on a zero-carbon lifestyle,” LG Electronics North America CEO Thomas Yoon told White House officials today. pic.twitter.com/XR99mHvt0h
— LG HVAC USA (@LGHVACUSA) April 4, 2023
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: firstname.lastname@example.org.
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.