CHP and Fuel Cells 2016-2026: Growth Opportunities, Markets and Forecast

by Mei Shibata

CHP and fuel cells provide an important source of efficient and dispatchable power not only for large commercial and industrial facilities, but also for smaller commercial facilities and the greater grid. They were responsible for 8% of all U.S. generation capacity in 2015.

CHP capacity alone represents more than 3 times the capacity that solar provides to the U.S., and its 83 GW dwarfs the 2 GW of installed microgrid capacity. Traditional heat engines have proven financial returns as a robust and efficient generation solution for over 50 years, while more innovative fuel cell solutions continue to improve project economics driven by $1.75 billion in investment since 2010.

Cumulative CHP Capacity Growth by Application Type in the U.S.

Despite the significant adoption base and investment dollars, the market for fuel-based DG solutions has seemingly stagnated in the last decade. This new report challenges the continuation of this trend, exploring the applications and markets where CHP and fuel cells are showing growth, as well as the reasons why the market may be diverging. It identifies the top state markets, details existing hurdles, profiles the vendor landscape and provides a forecast through 2026. The report also details emerging environmental mandates like the clean power plan and the evolution of state incentives and standards, all of which have the potential to significantly reignite this market.

Vendor Profiles:

Aegis Energy Services | Bloom Energy | Doosan Fuel Cell America | ENER-G Rudox | Exelon/Constellation | Fuel Cell Energy | General Electric | IntelliGen Systems | MTU Onsite Energy | NRG dGen | Tecogen

Mei Shibata Contributing Analyst, Grid Edge | CEO of Essense Partners

Mei Shibata has been a Contributing Analyst with GTM Research since 2014. She is also the CEO of Essense Partners, a strategic-marketing and innovation consulting firm focused on the energy sector. Prior to her current roles, Mei was Chief Strategy Officer of ThinkEco, an IOT energy efficiency and demand response startup she co-founded in 2008. For her role at ThinkEco, Mei was recognized as one of New York’s Top 10 Energy Entrepreneurs in 2013, and was selected as a 2013 NYC Venture Fellow by the New York Economic Development Corporation. In addition, Mei has six years of strategy consulting experience, and has worked as an equity research analyst at Citigroup and a marketer at Pfizer. Mei holds a bachelor’s degree in physics, a master’s degree in medical engineering, and an MBA from Harvard University.

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