BOULDER, Colo.--(BUSINESS WIRE)--A new report from Navigant Research analyzes the global market for combined heat and power (CHP) in microgrids, aggregating data on five microgrid segments across five regions, with forecasts for capacity and revenue, through 2026.
CHP has been operating as an efficient, simple form a of self-sustaining microgrid for more than a century. Boasting double the efficiency of typical grid-supplied power, the opportunities for modern CHP’s positive impact are vast. Click to tweet: According to a new report from @NavigantRSRCH, global demand for CHP prime mover equipment in microgrids is expected to grow from 655 MW in 2017 to 1,906 MW in 2026.
“Modern microgrids are a global phenomenon riding parallel currents of technology, climate, and policy change—and they may represent the biggest new opportunity for CHP in decades,” says Adam Forni, senior research analyst at Navigant Research. “In a growing symbiotic relationship, CHP brings mature baseload generation capability, while microgrids open new markets and improve integration with other distributed energy resources.”
While CHP is sought after for its ability to boost energy resilience, cut emissions compared to grid power, and lower utility bills, issues such as project complexity, interconnection challenges, and concerns about long-term emissions on a lower-carbon grid present barriers to wider adoption. According to the report, industry players who can navigate these shifting forces will be rewarded as demand continues to grow.
The report, Market Data: Combined Heat and Power in Microgrids, examines the global market for CHP in microgrids, aggregating data on five microgrid segments across five regions. The study provides an analysis of the global microgrid market in terms of total annual capacity and revenue attached to five types of CHP prime mover equipment: combustion turbines, steam turbines, microturbines, natural gas reciprocating gensets, and fuel cells. Global market forecasts for capacity and revenue, broken out by segment, technology, and region, extend through 2026. The report also analyzes the key market and technology issues related to CHP in microgrids. An Executive Summary of the report is available for free download on the Navigant Research website.
About Navigant Research
Navigant Research, the dedicated research arm of Navigant, provides market research and benchmarking services for rapidly changing and often highly regulated industries. In the energy sector, Navigant Research focuses on in-depth analysis and reporting about 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 Energy Technologies, Utility Transformations, Transportation Efficiencies, and Buildings Innovations sectors. Additional information about Navigant Research can be found at www.navigantresearch.com.
Navigant Consulting, Inc. is a specialized, global professional services firm that helps clients take control of their future. Navigant’s professionals apply deep industry knowledge, substantive technical expertise, and an enterprising approach to help clients build, manage and/or protect their business interests. With a focus on markets and clients facing transformational change and significant regulatory or legal pressures, the Firm primarily serves clients in the healthcare, energy and financial services industries. Across a range of advisory, consulting, outsourcing, and technology/analytics services, Navigant’s practitioners bring sharp insight that pinpoints opportunities and delivers powerful results. More information about Navigant can be found at navigant.com.
* The information contained in this press release concerning the report, Market Data: Combined Heat and Power in Microgrids, is a summary and reflects Navigant 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 Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.