LAUSR

Abstract The air source heat pump (ASHP) system with the direct-condensation radiant heating panel (DRHP) is an efficient space heating method. To evaluate the energy and exergy efficiencies of the system, a thermodynamic model was established. The effects of external air temperature, indoor air temperature and condensation temperature on the system efficiencies were investigated comprehensively. Results indicate that the low compression ratio is beneficial to the improvement of the energy and exergy efficiency of the system. The efficiency superiority of the system is corroborated in comparison with other ASHP systems. Meanwhile, the economic performances of the system are investigated with the initial cost, operating cost and several economic indicators. To examine the operating cost of the system, a reliable system model is proposed and the hourly heating load rates of a case study are presented. Results show that the dynamic investment pay-back period and the internal rate of return of the proposed system are 7.3 years and 11.2%, respectively. The economic competitiveness of the proposed system is demonstrated in comparison with other traditional ASHP heating systems.