13.5 Million Homes Worldwide Will Have Residential Combined Heat and Power Systems by 2022

July 17, 2012

The market for residential combined heat and power (resCHP) systems – defined as small, distributed energy generation systems that produce electricity for residences while also capturing heat that would otherwise be treated as waste – is still very small, but growing rapidly.  Only 61,000 systems shipped globally in 2011 – a number that will increase by 50% in 2012.  According to a recent report from Pike Research, a part of Navigant’s Energy Practice, the total number of installed resCHP systems, in both single-family and multi-family homes, will reach 13.5 million by 2022.  Annual installations of resCHP systems will increase at a compound annual growth rate (CAGR) of 49% for individual homes and 44% for multi-family homes between 2012 and 2022, the market intelligence practice forecasts.

“Besides being more efficient than the traditional power grid and easier to build than conventional power stations, resCHP systems have the additional benefit of producing thermal energy that can be used as heat, converted to electricity, or converted to cooling when coupled with an adsorption chiller,” says research director Kerry-Ann Adamson.  “Particularly in developing regions such as Africa, the Middle East, parts of Asia Pacific, and Latin America, these systems offer a cost-effective alternative to expensive, traditional power stations and grid installations.”

Germany and Japan, countries where the central governments have enacted strong policies favoring the adoption of resCHP technology, lead the world in terms of manufacture and adoption of these systems, Adamson adds.  The drivers for strong growth in this sector over the next decade include volatile energy markets, in which residential power costs can fluctuate dramatically from season to season, as well as increasing levels of fuel scarcity in a number of countries.  In addition, aging transmission systems in many countries are contributing to the rise of blackouts and brownouts, such as this summer’s widespread power outages along the Eastern Seaboard of the United States.  The distributed nature of resCHP systems makes them less vulnerable to outages on the centralized power grid.

The report, “Residential Combined Heat and Power”, analyzes the global market potential for resCHP systems for single-family and multi-family homes 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 resCHP systems, the technologies utilized in such systems, and the key industry players engaged in this market.  Regional market forecasts are provided through 2022 for system shipments, installed capacity, and revenue.  An Executive Summary of the report is available for free download on the Pike Research website.

Contact: Richard Martin

+1.303.997.7609

richard.martin@navigant.com

The information contained in this press release concerning the report “Residential Combined Heat and Power” is a summary and reflects Pike Research’s current expectations based on market data and trend analysis. Pike Research’s market predictions and expectations are inherently uncertain and actual results may differ materially.  Please refer to the full Pike Research report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used by Pike Research 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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