Linear Regression Analysis and Techno-Economic Viability of an Air Source Heat Pump Water Heater in a Residence at a University Campus

Abstract

This study quantifies the potential of a 4.0 kW air source heat pump (ASHP) unit retrofitted to a 12.0 kW, 1000 L electric boiler coupled to a 1000 L storage tank. A data acquisition system was built to monitor the performance of the electric boiler and the ASHP water heater. The annual electrical energy saving and the load factor reduction from the electric boiler because of the ASHP unit retrofit was 34,805.94 kWh and 0.124. The net present value payback period of the ASHP system was 1.60 years. A Wilcoxon rank sum test was employed to compare both the volumes of hot water and electrical energy consumed by the two systems. Linear regression models of the daily volumes of hot water and electrical energy consumed by both systems were established. The results should be of great value to the management of universities that are considering energy-efficient interventions with a significant return on investment.