Combined Heat and Power Capacity Additions for Commercial Buildings Will More than Double by 2022, Forecasts Pike Research
BOULDER, Colo.--(BUSINESS WIRE)-- Sometimes referred to as "cogeneration," combined heat and power (CHP) is the sequential or simultaneous generation of multiple forms of useful energy (usually mechanical and thermal) in a single, integrated system. These systems can help reduce the cost of heating, cooling, or providing power to a wide variety of commercial building types. According to a recent report from Pike Research, a part of Navigant's Energy Practice, annual installations of commercial CHP systems will reach nearly 39 gigawatts (GW) in 2012. That number will more than double by 2022, the study concludes, reaching 79.5 GW.
"The use of CHP can reduce a building's energy demand by up to 40 percent when compared to the separate production of heat and power," says senior research analyst Mackinnon Lawrence. "Although the high upfront cost of CHP systems and the challenge of finding suitable uses for the heat generated are key barriers, relatively short payback periods have allowed many major companies to invest in these energy saving technologies."
CHP represents a new paradigm for commercial building applications. As an integrated system, CHP systems include a suite of prime mover technologies such as gas turbines, microturbines, fuel cells, and others paired with software and component hardware. Since CHP deployments are not dependent on a single breakthrough technology, they are widely available for a range of applications, but intrinsically difficult to market to potential end users, architects, and engineers.
The report, "Combined Heat and Power for Commercial Buildings", analyzes the global market potential for commercial CHP systems for a range of building applications - such as hospitals, universities, hotels, casinos, airports, and others - using technologies including internal combustion engines, fuel cells, Stirling engines, and Organic Rankine Cycle. The study includes in-depth assessments of leading countries for the manufacture and adoption of commercial CHP systems, the technologies utilized in such systems, and the key industry players engaged in this market. Worldwide market forecasts, segmented by region, are provided through 2022 for system shipments, installed capacity, average installation capacity size, and revenue. An Executive Summary of the report is available for free download on the Pike Research website.
About Pike Research
Pike Research, which joined Navigant's global Energy Practice on July 1, 2012, provides in-depth analysis of global clean technology markets. The team's research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Smart Energy, Smart Grid, Smart Transportation, Smart Industry, and Smart Buildings sectors. Additional information about Pike Research can be found at www.navigant.com/pikeresearch.
Navigant (NYS: NCI) is a specialized, global expert services firm dedicated to assisting clients in creating and protecting value in the face of critical business risks and opportunities. Through senior level engagement with clients, Navigant professionals combine technical expertise in Disputes and Investigations, Economics, Financial Advisory and Management Consulting, with business pragmatism in the highly regulated Construction, Energy, Financial Services and Healthcare industries to support clients in addressing their most critical business needs. More information about Navigant can be found at www.navigant.com.
* The information contained in this press release concerning the report, "Combined Heat and Power for Commercial Buildings," is a summary and reflects Pike Research's current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report's conclusions and the methodologies used to create the report. Neither Pike Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.
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