The fuel cell vehicle market is in the midst of ramping up to commercialization. As such, the market appears fairly quiet, with annual sales well under 500 in 2011 and in 2012. However, much needs to happen behind the scenes for the industry to meet its 2015 commercialization target for light duty fuel cell vehicles (FCVs). Automakers planning to meet that 2015 target are in the process of engineering out costs and optimizing performance, and a few forward-looking governments are preparing the infrastructure and regulatory environment needed for commercial FCVs. Germany, the United Kingdom, Japan, South Korea, and the Nordic countries have taken the lead, with a variety of “H2Mobility” programs. The United States has fallen out of the leadership spot, although the state of California continues to make preparations.

The biggest challenge for automakers will be reaching sufficient volume to bring down system and balance of plant costs – which is leading several automakers, including Daimler, to form technology partnerships. The transit bus market also needs high volume to bring down costs. Europe continues to lead on fuel cell bus deployments, but annual orders are still well under 100, and the market needs to reach 1,000 orders annually to see major cost reductions. Finally, the global scooter market is in the millions, and fuel cells continue to be developed in an effort to capture some of that market. Navigant Research forecasts that worldwide sales of FCVs will reach the 1,000 mark in 2015 and then begin a period of strong growth, surpassing 2 million vehicles annually by 2030.

This Navigant Research report outlines in detail the state of policies and programs that will support FCV deployment and the commercialization plans of the major industry players. The report examines the state of technology in reaching application cost targets, and profiles innovative startups that could disrupt the market. The report also details conditions in three major emerging bus markets (Brazil, China, and India) and provides a long-term forecast for fuel cell light duty vehicles, buses, and scooters, segmented by region, through 2030.

Key Questions Addressed:

• What is the current state of automakers’ fuel cell vehicle programs and plans?
• What is the timeline for commercial fuel cell cars and buses and how has it changed in the last 2 years?
• What is the status of fuel cell technology in meeting commercial cost targets for cars, buses and scooters?
• What is the state of policy initiatives worldwide needed to help this market achieve commercialization?
• Which regions and countries are leading establishing roadmaps and public-private partnerships to create the infrastructure needed for commercial rollout?
• What is the state of worldwide infrastructure development efforts?

Who needs this report?

• Vehicle manufacturers and component suppliers
• Fuel cell stack and system manufacturers
• Fuel cell sub-stack component manufacturers/suppliers
• Fuel cell balance of plant suppliers
• Hydrogen infrastructure providers
• Electric drive integrators, manufacturers, and component manufacturers
• Battery manufacturers
• Industry associations
• Government agencies and policymakers
• Investor community

Table of Contents

1. Executive Summary

1.1   Introduction

1.2   Fuel Cell Light Duty Vehicles

1.3   Fuel Cell Buses

1.4   Fuel Cell Scooters

2. Market Issues

2.1   Light Duty Vehicles

2.1.1  Heading to 2015: The State of OEM FCV Development

2.1.2  Startups and Innovative Business Models

2.1.3  Plug-In Electric Vehicles: Competing or Complementary?

2.2   Buses

2.2.1  Technology Developers versus OEMs

2.2.2  Battery Electric Buses: Competing or Complementary?

2.2.3  Emerging Bus Markets

2.2.3.1 Brazil

2.2.3.2 China

2.2.3.3 India

2.3   Scooters

2.3.1  Infrastructure

2.3.2  Competitors

3. Global Policies and Programs on Fuel Cell Vehicles

3.1   Europe

3.1.1  European Union Policy

3.1.2  United Kingdom

3.1.3  Germany

3.1.4  Nordic Countries

3.2   Asia Pacific

3.2.1  Japan

3.2.2  South Korea

3.2.3  China

3.2.4  India

3.3   North America

3.3.1  United States

3.3.1.1 California

3.3.2  Canada

4. Technology Issues

4.1   Light Duty Vehicles

4.2   Bus Targets

4.3   Scooter Targets

5. Key Industry Players

5.1   Introduction

5.2   Fuel Cell Companies

5.2.1  Automotive Fuel Cell Cooperation

5.2.2  Ballard Power Systems

5.2.3  ClearEdge Power

5.2.4  Hydrogenics

5.2.5  Intelligent Energy

5.2.6  Oorja Protonics

5.3   Infrastructure Providers

5.3.1  Air Liquide

5.3.2  Air Products

5.3.3  Hydrogenics

5.3.4  ITM Power

5.3.5  Linde

5.3.6  Proton OnSite

5.4   Automotive OEMs

5.4.1  BMW

5.4.2  Daimler

5.4.3  General Motors

5.4.4  Honda

5.4.5  Hyundai-Kia

5.4.6  Toyota

5.4.7  Volkswagen

5.5   Others

5.5.1  BAE Systems (Hybrid Systems Developer)

5.5.2  Microcab

5.5.3  Riversimple

5.5.4  Tata

6. Market Forecasts

6.1   Overview of Forecasting Methodology

6.1.1  Forecasting Variables

6.1.2  Forecasting Pivot Points

6.2   Fuel Cell Light Duty Vehicles

6.3   Fuel Cell Buses

6.4   Region of Manufacture: Sales, Capacity, and Revenue

6.5   Fuel Cell Scooters

6.6   Conclusions and Recommendations

7. Company Directory
8. Acronym and Abbreviation List
9. Table of Contents
10. Table of Charts and Figures
11. Scope of Study, Sources and Methodology, Notes

List of Charts and Figures

• Fuel Cell Light Duty Vehicle Sales by Region, World Markets: 2013-2030
• Cumulative Plug-In Electric Vehicle Sales by Region, Top Markets: 2013-2020
• Annual ICE Scooter Sales by Region, World Markets: 2010-2013
• Fuel Cell Light Duty Vehicle Sales by Region, World Markets: 2013-2020
• Fuel Cell Light Duty Vehicle Sales by Region, World Markets: 2020-2030
• Fuel Cell Light Duty Vehicle Sales by Key Country, World Markets: 2013-2020
• Fuel Cell Bus Sales by Region, World Markets: 2013‑2020
• Fuel Cell Bus Sales by Region, World Markets: 2020‑2030
• Fuel Cell Bus Sales by Key Country, World Markets: 2013-2020
• Fuel Cell Light Duty Vehicle Sales by Region of System Manufacture, World Markets: 2020-2030
• LDV and Bus Fuel Cell Capacity Shipped by Region of System Manufacture, World Markets: 2015-2030
• Fuel Cell Vehicle Revenue by Region of Vehicle Manufacture, World Markets: 2015-2030
• Fuel Cell Scooter Sales by Region, World Markets: 2013-2030
• Fuel Cell Light Duty Vehicle Sales by Key Country, World Markets: 2020-2030
• Fuel Cell Bus Sales by Key Country, World Markets: 2020-2030
• GM Powertrain Matrix
• Matrix of Vehicle Options, Range, and CO2 Emissions, Germany: 2010-2050
• NREL Data Collection Results and DOE/DOT Bus Targets

List of Tables

• European Union GHG Reduction Targets from 1990 Levels by Sector: 2005-2050
• Government-Owned FCV Fleet Program, South Korea: 2006-2013
• 100 kW Low-Temperature PEM Fuel Cell Subsystem Cost: 2011
• Comparison of Electric and Gas-Powered Motorcycle and Scooter Costs: 2012
• Fuel Cell Vehicle Market Phases, World Markets: 2013-2030
• Annual ICE Scooter Sales by Region, World Markets: 2010-2013
• Cumulative Plug-in Electric Vehicle Sales by Region, Top Markets: 2013-2020
• Fuel Cell Light Duty Vehicle Sales by Region, World Markets: 2013-2030
• Fuel Cell Light Duty Vehicle Sales by Key Country, World Markets: 2013-2030
• Fuel Cell Bus Sales by Region, World Markets: 2013‑2030
• Fuel Cell Bus Sales by Key Country, World Markets: 2013-2030
• Fuel Cell Scooter Sales by Region, World Markets: 2013-2030
• Fuel Cell Light Duty Vehicle Sales by Region of System Manufacture, World Markets: 2013-2030
• Fuel Cell LDV and Bus Capacity Shipped by Region of System Manufacture, World Markets: 2013-2030
• Fuel Cell Vehicle Revenue by Region of Vehicle Manufacture, World Markets: 2012-2030

The Smart Energy paradigm is fast evolving from niche markets into a standardized part of the global energy portfolio.  Oil majors, national governments, and technology developers have all reached the consensus that a more diversified energy mix is critical to sustainable economic growth in the future.  As a result of this development, combined with the almost inexorable shift toward an electron-based economy, a range of new energy sources and advanced energy technologies has entered the market and started to post healthy revenue.

This white paper identifies five emerging metratrends that will have an increasing impact in 2013 and beyond.  The five smart energy metatrends that Navigant Research has identified for 2013 are:

• Energy is becoming increasingly democratized
• The role of government innovation funds is changing
• Technologies are converging
• The Southern African Power Pool is becoming the new BRIC
• The role of utilities is changing

This white paper outlines key trends affecting the development of Smart Energy industries worldwide, the specific market impacts of these trends in 2013, and the longer-term impact of these emerging developments.  Analysis and conclusions in this paper are drawn from the firm’s ongoing Smart Energy research coverage, with forecasts included for key market sectors.

Key Questions Addressed:

• What are the emerging geographic markets for smart energy?
• Why is the democratization of energy important and what will be the impact on energy markets?
• Who is picking up the slack from the exit of the private equity market in early stage innovation funding?
• How is the role of utilities changing in the new smart energy paradigm?

Who needs this report?

• Technology developers
• Utilities
• Government agencies and policymakers
• Investor community

Table of Contents

1. Introduction

2. Energy Is Becoming Increasingly Democratized

3. Role of Government Innovation Funds Is Changing

4. Technologies Are Converging

5. Southern African Power Pool Is Becoming the New BRIC

6. Role of Utilities Is Changing

7. Acronym and Abbreviation List

8. Table of Contents

9. Table of Charts and Figures

10. Scope of Study, Sources and Methodology, Notes

List of Charts and Figures

• Revenue of Seven High-Growth Areas in the Smart Energy Sector, World Markets: 2012-2017
• resCHP from Single and Multi-Family Dwellings, World Markets: 2010-2022
• Off-Grid Base Station Power Revenue by Forecast Scenario, World Markets: 2012-2020
• Changing Democratization of Information from the Internet
• Innovation Process Is Changing
• All the Pieces Coming Together

List of Tables

• Southern African Power Pool, Utilities and Fuel Production: 2010
• Background Data, Southern African Power Pool: 2008 and 2009
• Renewable Energy Policy Targets in Southern African Power Pool: 2012

The chronic need for expanded and more stable grid infrastructure is driving strong growth in a number of markets for off-grid power. Increasingly this power is being supplied by renewable energy and alternative sources, such as fuel cells and advanced batteries. One of the most intriguing of these markets is remote sensing, including light detection and ranging (LIDAR) and supervisory control and data acquisition (SCADA) systems for the oil and gas industry, as well as remote monitoring using telemetry for environmental applications. The common factor between these markets is their need for long term, running up to a year, autonomous power supply for an off-grid, often highly remote, location Together these applications represent an overall market size in the hundreds of thousands of systems.

The industry serving this market remains small and fragmented. In the oil and gas sector, demand is increasing for systems that can work in extreme conditions and very remote environments. No one solution is set to become dominant. Navigant Research forecasts that, under a base scenario, nearly 27,000 remote sensing systems based on renewable and alternative energy will be shipped annually by 2020. Under a more optimistic scenario, that figure could reach just under 40,000.

This Navigant Research report examines the market for remote sensing systems using renewable or alternative energy, focusing on remote sensing, LIDAR, and SCADA systems. Market drivers and barriers for the use of renewable or alternative energy systems are detailed, along with specific factors at work in the oil and gas industry. Market forecasts for unit shipments and for revenues, segmented by application, are provided through 2020. The report also includes profiles of key industry players.

Key Questions Addressed:

• What is the forecast for global revenue for renewable and alternative energy systems for remote sensing through 2020?
• What are the market need, incumbent technology and drivers for switching to renewable, or alternative energy systems in the remote monitoring sector?
• Who are the leading players in the market for renewable and alternative energy for remote sensing applications?
• Which industries will have the largest needs for remote sensing systems based on renewable or alternative energy?
• What are the requirements for deployment into the oil and gas industry?

Who needs this report?

• Advanced battery manufacturers
• DMFC and small PEM fuel cell manufacturers
• Small solar and distributed wind vendors
• SCADA and LIDAR developers
• System integrators
• Oil and gas exploration and equipment companies
• Government agencies
• Investor community

Table of Contents

1. Executive Summary

1.1   Market Overview

1.2   Market Forecast

2. Market Issues

2.1   Introduction

2.2   Overview of Measurement Industries

2.2.1     Remote Sensing

2.2.1.1     Need

2.2.1.2     Incumbent Technology and New Technology Options

2.2.1.3     Market Size

2.2.1.4     Drivers and Barriers

2.2.2     Light Detection and Ranging in the Wind Industry

2.2.2.1     Need in the Wind Industry

2.2.2.2     Incumbent Technology

2.2.2.3     Market Size

2.2.2.4     Drivers and Barriers

2.2.3     Supervisory Control and Data Acquisition in the Oil and Gas Industry

2.2.3.1     Need in the Oil and Gas Industry

2.2.3.2     Incumbent Technology

2.2.3.3     Market Size

2.2.3.4     Drivers and Barriers

3. Technology Issues

3.1   Technology Options

3.1.1     Renewable + Battery Backup

3.1.2     Fuel Cell

3.1.3     Renewable + Battery + Fuel Cell

3.2   Technology Readiness

4. Key Industry Players

4.1   Introduction

4.2   Acumentrics Corporation

4.3   Energy Solutions

4.4   Ensol Systems Inc.

4.5   Evergreen Energy Technologies Inc.

4.6   Kraft Maus

4.7   SFC Energy

4.8   SunWize Technologies, Inc.

4.9   UPS Systems

5. Market Forecasts

5.1   Forecast Methodology

5.2   Base and Optimistic Deployment Scenarios

5.3   Region of Deployment

5.4   Capacity Shipments

5.5   Conclusions and Recommendations

6. Company Directory
7. Acronym and Abbreviation List
8. Table of Contents
9. Table of Charts and Figures
10. Scope of Study, Sources and Methodology, Notes

List of Charts and Figures

• Remote Sensing Power System Deployment Revenue by Region, Base Scenario, World Markets: 2012-2020
• Remote Sensing Power System Shipments by Application, Base Scenario, World Markets: 2012-2020
• Remote Sensing Power System Shipments by Application, Optimistic Scenario, World Markets: 2012-2020
• Remote Sensing Power System Shipments by Forecast Scenario, World Markets: 2012-2020
• Remote Sensing Power System Deployment MW by Application, Base Scenario, World Markets: 2012-2020
• Remote Sensing Power System Deployment MW by Application, Optimistic Scenario, World Markets: 2012-2020

List of Tables

• Remote Sensing: Drivers and Barriers for the Use of Renewable or Alternative Energy Systems LIDAR: Drivers and Barriers for Renewable or Alternative Energy Systems
• SCADA: Drivers and Barriers for Renewable or Alternative Energy Systems
• Modified Technology Readiness Levels for Renewable and Alternative Energy Systems for Off-Grid Remote Sensing Sites, World Markets: 2012
• Technology Readiness Level for Market for Remote Sensing Systems by Technology, World Markets: 2012
• Acumentrics SWOT Analysis
• Energy Solutions SWOT Analysis
• Ensol Systems SWOT Analysis
• Evergreen Energy Technologies SWOT Analysis
• Kraft Maus SWOT Analysis
• SFC Energy SWOT Analysis
• SunWize SWOT Analysis
• UPS Systems SWOT Analysis
• Remote Sensing Power System Shipments by Application, Base Scenario, World Markets: 2012-2020
• Remote Sensing Power System Shipments by Application, Optimistic Scenario, World Markets: 2012-2020
• Remote Sensing Power System Deployment Revenue by Application, Base Scenario, World Markets: 2012-2020
• Remote Sensing Power System Deployment Revenue by Application, Optimistic Scenario, World Markets: 2012-2020
• LIDAR Deployment Revenue by Region, Base Scenario, World Markets: 2012-2020
• Telemetry for Environmental Projects Deployment Revenue by Region, Base Scenario, World Markets: 2012-2020SCADA
• Deployment Revenue by Region, Base Scenario, World Markets: 2012-2020
• Remote Sensing Power Total Deployment Revenue by Region, Base Scenario, World Markets: 2012-2020
• Remote Sensing Power System Deployment MW by Application, Base Scenario, World Markets: 2012-2020
• Remote Sensing Power System Deployment MW by Application, Optimistic Scenario, World Markets: 2012-2020

Demand for high quality, high reliability off-grid power is increasing yearly. In the coming years, a significant fraction of this demand will be met by some form of hybrid system that includes renewable or alternative energy sources. Of particular interest in this regard is growing demand for reliable, non-diesel-based energy sources from off-grid base transceiver stations for mobile communications networks.

Diesel generators, a solution that presents a number of economic, logistical, and environmental challenges, remain by far the most common energy source for such remote base stations. This market is small when compared with grid-tied base stations. But the level of market pain is such that the so-called “green base station,” which is essentially a combination of renewable, battery, and fuel cell technologies, is starting to see real market traction. Navigant Research forecasts that revenue for off-grid base station power will grow from $1.6 billion in 2012 to more than $10.5 billion in 2020.

This Navigant Research report examines the market for off-grid power for mobile base stations, focusing on renewable and alternative energy sources. The report includes a detailed analysis of the technology readiness of such systems, as well as an overview of the most likely technology combinations, including renewable generation with batteries and fuel cells, renewable generation with backup batteries, and standalone fuel cells. Market forecasts are provided for revenue, number of deployments, and capacity in megawatts, under base and optimistic scenarios, through 2020.

Key Questions Addressed:

• What are the drivers for adoption of renewable and alternative energy to power off-grid mobile base stations?
• Which technologies and systems are ready for commercial scale and which are still in the R&D stage?
• What are the revenue and capacity projections for off-grid power systems for mobile base stations globally, through 2020?
• What are the most likely technology combinations to meet the demand for off-grid power for mobile base stations?
• How do these systems compare to incumbent technology, i.e., diesel generators?

Who needs this report?

• Mobile network operators
• Telecommunications network equipment vendors
• Renewable energy technology suppliers
• Battery manufacturers
• Fuel cell technology developers
• Utilities
• Government agencies
• Investor community

Table of Contents

1. Executive Summary

1.1   Market Overview

2. Market Issues

2.1   Introduction

2.2   Market Size of Renewable and Alternative Energy Use in Off-Grid Base Stations

2.3   Drivers for the Adoption of Renewable and Alternative Energy to Power Off-Grid Base Stations

2.3.1     The Economics of Powering a Base Station as an Agent for Change

2.3.2     Policy Drivers

2.3.2.1     Direct Policy

2.3.2.2     Indirect Policy

3. Technology Issues

3.1   Introduction

3.2   Technology Combination Overview

3.2.1     Renewable + Battery Backup

3.2.2     Generator + Renewable + Battery as Backup

3.2.3     Renewable + Battery + Fuel Cell

3.2.4     Fuel Cell

3.3   Technology Readiness

3.4   Industry Structure

4. Market Forecasts

4.1   Forecast Methodology

4.2   Revenue

4.3   Regional Development

4.4   New Installed Power: Renewable and Alternative Energy Systems

4.5   Note on Technology Mix Going Forward

5. Company Directory
6. Acronym and Abbreviation List
7. Table of Contents
8. Table of Charts and Figures
9. Scope of Study, Sources and Methodology

List of Charts and Figures

• Components of Green Telecom Practices
• Expected Number of Installed Off-Grid Base Stations, Selected Regions: 2012
• Green Base Station Deployment by Technology and Region, World Markets: 2012
• Green Base Station Deployment by Technology and Country, Asia Pacific: 2012
• Average Off-Grid Base Station Operating Expenses, East Africa: 2012
• Average Diesel Prices, Selected Countries: 2012
• Off-Grid Base Station Payback Period
• Annual Off-Grid Base Station Power Revenue by Forecast Scenario, World Markets: 2012-2020
• Annual Off-Grid Base Station Power Deployments by Region, Base Scenario, World Markets: 2012-2020
• Share of Off-Grid Base Station Power Deployments by Region, Base Scenario, World Markets: 2020
• Annual Additions to Off-Grid Base Station Power Capacity by Forecast Scenario, World Markets: 2012-2020

List of Tables

• Modified Technology Readiness Level Descriptions for Renewable and Alternative Energy Systems for Off-Grid Base Stations, World Markets: 2012
• Technology Readiness Levels for Renewable and Alternative Energy Systems for Off-Grid Base Stations by Technology, World Markets: 2012
• Expected Number of Installed Off-Grid Base Stations, Selected Regions: 2012
• Green Base Station Deployment by Technology and Region, World Markets: 2012
• Green Base Station Deployment by Technology and Country, Asia Pacific: 2012
• Average Diesel Prices, Selected Countries: 2012
• Simple Payback Period Calculation
• Annual Off-Grid Base Station Power Revenue by Forecast Scenario, World Markets: 2012-2020
• Annual Off-Grid Base Station Power Deployments by Region, Base Scenario, World Markets: 2012-2020
• Annual Additions to Off-Grid Power Capacity from Base Stations by Forecast Scenario, World Markets: 2012-2020

2012 was a dynamic year for the fuel cell and hydrogen industries. The year saw widespread restructuring, increased rollouts of new business models, a sharp increase in sales and interest in the residential combined heat and power (resCHP) segment, and overall revenue generation of over $1 billion. The year ahead promises similar upheaval, with increases in total capacity for the fuel cell sector, rollouts of new hydrogen refueling stations, and increasing profitability for leading vendors.

This Navigant Research white paper presents the 10 most notable and important trends for the next 12 months in the fuel cell and hydrogen industries, focusing on capacity and revenue generation, business model evolution, and the maturation of the key companies within the sector.

Navigant Research’s 10 key trends for 2013 include:

• New installed capacity in the stationary fuel cell sector will top 200 MW
• The pace of rollouts of hydrogen refueling stations will accelerate in Europe and Asia Pacific
• The number of companies with profit per system sold will increase, and 2013 will see the first overall profit-making fuel cell company
• Private equity and corporate investments from Russia, South Africa, and Asia Pacific will rise
• Independent power producer (IPP) and energy service company (ESCO) partnerships with utilities will increase
• Revenue from the sector will increase to more than $2 billion globally in 2013
• Platinum and palladium shipments into the fuel cell industry will increase
• Systems with islanding capability will see the strongest shipment increase
• Fuel cell vehicles will generate large amounts of publicity and interest will be generated around fuel cell vehicles
• The portable sector will continue to languish, although sales will increase

Key Questions Addressed:

• What will be the combined revenue of the fuel cell and hydrogen industries in 2013?
• What will be the chief sources of funding and investment in 2013?
• Which are the key markets to watch in 2013?
• How much expansion will occur in the stationary fuel cell sector in 2013?
• What is the potential impact of Russian investment on the fuel cell and electrolyzer industry?
• Will there be a profitable fuel cell company in 2013?

Who needs this report?

• Fuel cell system and stack developers
• Tier One & Two hydrogen suppliers
• Automakers
• Utilities
• ESCOs
• Government agencies
• Investment community

Table of Contents

1. Introduction

2. 10 Key Trends in the Fuel Cell and Hydrogen Industries

3. Acronym and Abbreviation List

4. Table of Contents

5. Table of Charts and Figures

6. Scope of Study, Sources and Methodology, Notes

List of Charts and Figures

• Fuel Cell Systems MW Shipped by Application, World Markets: 2013
• Fuel Cell Systems Revenue Generated by Application, World Markets: 2009-2013
• Platinum Loadings in PEM Fuel Cells: 2006-2015

List of Tables

• Governments with Direct or Indirect Policy that Could Affect the Global Stationary
  Fuel Cell Market: 2012

The stationary fuel cell industry is growing in terms of megawatts and systems shipped. At the same time, it is going through a deep restructuring, with a number of companies exiting the space and a handful of new entrants appearing. The most notable shift from 2011 to 2012 has been a meaningful set of developments in government policy that will directly influence the future of the fuel cell industry.

The uninterruptible power supply (UPS) application segment is marked by collaboration, limited market expansion, and new fuel options. In the combined heat and power (CHP) segment, the key development has been a comprehensive, and painful, restructuring, while for prime power it has been the demand for systems with islanding capability. Pike Research estimates that these trends, along with external factors such as concern about power grid stability in the wake of natural disasters, will drive a significant uptick in the rate of fuel cell adoption that could reach 4.5 gigawatts (GW) by 2017.

This Pike Research report provides a comprehensive analysis of developments and market opportunities in the global fuel cell industry, including a focus on the CHP, prime power, and backup power/UPS application segments. The study includes two market forecasts for unit shipments, megawatt shipments, and revenue under constrained and unconstrained growth scenarios, segmented by world region and application segment. The report also profiles 24 active fuel cell system companies in North America, Europe and Asia Pacific.

Key Questions Addressed:

• What is the current levelized cost of energy (LCOE) of fuel cell systems?
• Which regions are leading in terms of manufacturing?
• What is the projected breakdown of fuel types going forward?
• What is the current structure of the fuel cell industry, and how will it evolve over the remainder of the decade?
• How many stationary fuel cells were shipped in each application segment, in terms of systems and megawatts, between 2009 and 2012?
• What is the market forecast for stationary fuel cells through 2022?
• What are the key global policy developments over the past 12 months?
• What are the key trends in the UPS, CHP, and prime power segments?

Who needs this report?

• Fuel cell manufacturers
• Fuel cell technology developers
• Fuel reforming companies
• Large commercial and industrial energy users
• Utilities
• Government agencies and energy policymakers
• Investor community

Table of Contents

1. Executive Summary

1.1   Guidelines

2.     Industry Structure

2.1   Company Composition

2.2   Manufacturing by Region

2.3   Level of Innovation

3.     Market Issues

3.1   Changing Market Demand

3.1.1     Policy

3.1.1.1     South Korea RPS

3.1.1.1.1.             Policy Outline

3.1.1.2     New York State Energy Plan

3.1.1.3     Capital Subsidy of resCHP Systems in Germany

3.1.1.3.1.             Policy Outline: “Guideline for the Subsidy for CHP Systems up to 20kW Electric”

3.1.1.3.2.             Combined Heat and Power Act (KWKG)

3.1.2     Carbon Taxes and Trading

3.1.3     Trends in the Different Market Segments

3.1.4     Uninterruptible Power Supply

3.1.4.1     Collaboration, Limited Market Expansion, and New Fuel Options

3.1.5     Combined Heat and Power

3.1.5.1     Restructuring

3.1.6     Prime Power

3.1.6.1     Growing, Growing, Growing

3.2   Summary

4.     Technology Issues

4.1   Cost

4.1.1     Manufacturing Cost

4.1.2     Levelized Cost of Energy

4.1.3     Business Models

4.1.3.1     Energy Service Companies

4.1.3.2     Independent Power Producers

4.1.3.3     Cooperatives

4.2   Summary

5.     Key Industry Players

5.1   North America

5.1.1     Altergy Systems

5.1.2     Ballard Power Systems

5.1.3     Bloom Energy

5.1.4     ClearEdge Power

5.1.5     FuelCell Energy

5.1.6     Hydrogenics

5.1.7     ReliOn, Inc.

5.1.8     UTC Power

5.2   Europe

5.2.1     AFC Energy

5.2.2     Baxi Innotech

5.2.3     Ceramic Fuel Cells

5.2.4     Dantherm

5.2.5     Heliocentris/P21

5.2.6     Hexis

5.2.7     Intelligent Energy/IE CHP

5.2.8     Topsoe Fuel Cell

5.2.9     Tropical

5.3   Asia Pacific

5.3.1     Eneos Celltech

5.3.2     Fuji Electric

5.3.3     GS Caltex

5.3.4     JX Nippon

5.3.5     Panasonic

5.3.6     POSCO Power

5.3.7     Toshiba Fuel Cell Power Systems

6.     Market Forecasts

6.1   Overview of Forecast Methodology

6.2   Market Forecast 2012–2022

6.2.1     By Installed Capacity

6.2.2     By Application

6.2.3     By Fuel

6.2.4     By Region of Manufacture

6.2.5     Regions of Adoption: Some Pointers

7. Company Directory
8. Acronym and Abbreviation List
9. Table of Contents
10. Table of Charts and Figures
11. Scope of Study, Sources and Methodology, Notes

List of Charts and Figures

• Stationary Fuel Cell Companies by Region of Manufacture, World Markets: 2012
• Stationary Fuel Cell Units Shipped by Region of Manufacture, World Markets: 2012
• Ratio of Revenue to Company Headcount, World Markets: 2012
• Stationary Fuel Cell MW Shipments by Application, World Markets: 2009-2012
• Levelized Cost of Energy for 12 System Vendors: 2012
• Levelized Cost of Energy, Various Energy Technologies: 2012
• Stationary Fuel Cell Units Shipped by Forecast Scenario, World Markets: 2009-2017
• Stationary Fuel Cell Units Shipped by Forecast Scenario, World Markets: 2009-2022
• Stationary Fuel Cell MW Shipments by Forecast Scenario, World Markets: 2009-2017
• Stationary Fuel Cell MW Shipments by Forecast Scenario, World Markets: 2009-2022
• Stationary Fuel Cell MW Shipments by Market Application, Constrained Forecast, World Markets: 2012-2022
• Stationary Fuel Cell MW Shipments by Market Application, Unconstrained Forecast, World Markets: 2012-2022
• Stationary Fuel Cell Systems Shipped by Fuel Use, Unconstrained Forecast, World Markets: 2012-2022
• Stationary Fuel Cell Revenue by Region of Manufacture, Constrained Forecast, World Markets: 2012-2022
• Stationary Fuel Cell Revenue by Region of Manufacture, Unconstrained Forecast, World Markets: 2012-2022
• Stationary Fuel Cell Revenue by Market Application, Constrained Forecast, World Markets: 2012-2022
• Stationary Fuel Cell Revenue by Market Application, Unconstrained Forecast, World Markets: 2012-2022

List of Tables

• Stationary Fuel Cell Units Shipped by Region: 2012
• Governments with Direct or Indirect Policy that Could Impact the Global Stationary Fuel Cell Market, World Markets: 2012
• Percent Renewable Energy Generation under RPS, South Korea: 2012-2020
• Renewable Energy Generation under RPS by Sector, South Korea: 2012-2020
• Capital Subsidies Available for resCHP Systems, Germany: 2012
• Overview of Carbon Policy, World Markets: 2012
• Summary Overview of Market Need, Market Demand, Fit-for-Purpose, and Availability
• Stationary Fuel Cell MW Shipments by Application, World Markets: 2009-2012
• 1 kW: LT PEM Fuel Cell Subsystem Cost: 2011
• 100 kW: LT PEM Fuel Cell Subsystem Cost: 2011
• 5 kW: HT PEM Fuel Cell Subsystem Cost: 2011
• Summary Overview of Availability and Business Models
• Stationary Fuel Cell Units Shipped by Forecast Scenario, World Markets: 2009-2022
• Stationary Fuel Cell MW Shipments by Forecast Scenario, World Markets: 2009-2022
• Stationary Fuel Cell MW Shipments by Market Application, World Markets: 2012-2022
• Stationary Fuel Cell Revenue by Market Application, World Markets: 2012-2022
• Stationary Fuel Cell MW Shipments by Electrolyte, World Markets: 2012-2022
• Stationary Fuel Cell Revenue by Electrolyte, World Markets: 2012-2022
• Stationary Fuel Cell Revenue by Region of Manufacture, World Markets: 2012-2022
• Stationary Fuel Cell MW Shipments by Region of Manufacture, World Markets: 2012-2022
• Stationary Fuel Cell Units Shipped by Fuel Type, World Markets: 2012-2022

London, United Kingdom

Pike Research Senior Research Analyst Bob Lockhart will be in attendance.  To schedule a meeting at this event, Please Contact Us.

SMi’s 3rd annual European Smart Grid Cyber and SCADA Security forum will address the current threat landscape of Smart Grid, Advanced Metering Infrastructure, Industrial Control Systems and SCADA vulnerabilities. Building on the success of the past two years, we will bring Government, Industry, top research and solution providers back to London for a formal interactive two day conference and workshop.

Gain valuable insight into developments such as:

• A secure ICS does not exist! – How do we prepare?
• Ongoing work in early detection systems in Europe for Smart Infrastructure and ICS
• Sharing across public and private sectors – what is required for success?
• Standards development both European and North America
• Behavioural monitoring and intrusion detection
• Risk Management strategies

Our expert speaker line-up includes:

• Annemarie Zielstra, Chair of EuroSCSIE Coordinator of ERNCIP, Centre for the Protection of National Infrastructure (CPNI)
• Corrado Leita, Project Coordinator, CRISALIS
• Damiano Bolzoni, COO, Security Matters
• Daniel Zajd, Senior R and D Engineer, Vattenfall A B
• Daniela Pestonesi, IT and Security Systems, Enel Distribuzione Sp A

Click here for more information.

Commercial combined heat and power (comCHP) systems, which are small to medium distributed energy generation systems that produce electricity while also capturing heat that would otherwise be treated as waste, are garnering increased interest from policy makers, utilities, and building owners in a growing number of countries. Distributed generation installations have the advantages of going online more quickly than traditional large centralized power stations, reducing demand pressure on the electrical grid, and reducing inefficiencies that are common in centralized power generation, transmission, and distribution. Installations that use CHP technologies 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.

The technologies behind many comCHP products have been under development for more than a decade. Today, the market is beginning to gain momentum and an increasing number of companies are introducing increasingly standardized commercial products. Driven by concerns about grid reliability, meeting growing demand for electricity, increasing grid efficiency, and reducing greenhouse gas emissions, governments around the world are also focused on increasing subsidies and other incentives for the adoption of comCHP systems and related building efficiency technologies.

This Pike Research report analyzes the global market potential for comCHP systems for a range of building applications – hospitals, universities, hotels, casinos, airports, etc. – 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 comCHP 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.

Key Questions Addressed:

• What is the size of the global market opportunity for commercial CHP systems?
• Which countries offer the most attractive opportunities for comCHP?
• What is the addressable market, in terms of commercial and institutional building stock, in key countries – and how will this grow?
• How will technology improvements, modularization, and standardization influence average installation size across key regions over the next decade?
• What business models are driving comCHP adoption across small commercial, large commercial, institutional, and municipal applications?
• What are the key drivers for comCHP adoption at the building owner, utility, and government levels?

Who needs this report?

• CHP technology vendors and integrators
• Fuel cell companies
• Natural gas companies
• Renewable biogas producers
• Utilities
• Building owners and managers
• Corporate and institutional energy managers
• Energy service companies
• Government agencies
• Investor community

Table of Contents

1. Executive Summary

1.1   Overview

1.2   Market Forecast

2. Market Issues

2.1   Introduction to CHP

2.1.1     CHP as a DG Technology

2.1.2     Why CHP?

2.2   Defining the comCHP Market

2.2.1     comCHP Benefits

2.2.2     comCHP Application Groups

2.3   comCHP Market Drivers

2.3.1     Energy Security

2.3.1.1     Security against Blackouts

2.3.1.2     Security against Price Volatility

2.3.2     Energy Supply Diversification

2.3.3     Volatility in the Spark Spread

2.3.3.1     Specific Cost Considerations

2.3.3.2     Natural Gas Prices

2.3.4     Mitigating Building or Facility Operating Costs

2.3.4.1     Avoided Costs

2.3.4.2     Staff Reduction via Outsourcing

2.3.4.3     Added Tenant Service/Rent

2.3.5     Emissions and Emissions Savings

2.3.6     Tariff Issues

2.3.7     Policies and Incentives

2.3.7.1     Financial Incentives

2.3.7.1.1.             Feed-in Tariffs

2.3.7.1.2.             Renewable Energy Credits

2.3.7.2     Regulations for Utilities

2.3.7.2.1.             Renewable Portfolio Standards

2.3.7.2.2.             Energy Efficiency Directives

2.3.7.3     Emissions Regulations

2.3.7.4     Research and Development Subsidies

2.3.7.5     Adoption Subsidies

2.3.8     Thermal versus Electrical Output in comCHP

2.3.9     Commercialization Programs

2.4   Market Barriers

2.4.1     Utilities

2.4.2     CHP Costs

2.4.2.1     Installed Cost

2.4.2.2     CAPEX

2.4.2.3     Operation and Maintenance Cost

2.4.2.4     Total Cost of Ownership

2.4.3     Regulations

2.4.3.1     Permitting and Air Quality

2.4.3.2     Environmental Regulations

2.4.3.3     Municipal Regulations

2.4.4     Access to Fuel Sources

2.4.5     Market Immaturity

2.4.5.1     Public Awareness and Acceptance

2.4.5.2     Product Availability

2.4.5.3     Durability and Maintenance

2.4.5.4     Support and Repair Infrastructure

3. Country Profiles

3.1   Introduction

3.2   United States

3.2.1     Overview

3.2.2     Policy Outlook

3.2.3     Overview of Commercial Building Stock

3.3   Germany

3.3.1     Overview

3.3.2     Policy Outlook

3.3.3     Overview of Commercial Building Stock

3.4   United Kingdom

3.5   Denmark

3.6   Russia

3.7   China

3.7.1     Overview

3.7.2     Policy Outlook

3.7.3     Overview of Commercial Building Stock

3.8   Japan

3.8.1     South Korea

4. Technology Issues

4.1   CHP Technical Overview

4.1.1     CHP Efficiency

4.1.1.1     Total CHP Efficiency

4.1.1.2     Effective Electrical Efficiency

4.1.1.3     Power-to-Heat Ratio

4.1.2     CHP Integration

4.1.2.1     Building Integration

4.1.2.2     Grid Interconnection

4.2   CHP Components

4.2.1     Prime mover

4.2.2     Heat Recovery Device

4.2.3     Utility Interface

4.2.4     Controls

4.2.5     Optional Components

4.3   Mechanical Systems

4.3.1     Internal Combustion Engines

4.3.2     Steam and Gas Turbines

4.3.2.1     Combined Cycle Gas Turbines

4.3.2.2     Microturbines

4.3.3     Emerging Mechanical Technologies

4.3.3.1     Reciprocating and Stirling Engines

4.3.3.2     Organic Rankine Cycle (ORC)

4.4   Fuel Cells

4.4.1     Differences among Fuel Cells

4.4.2     Cost of Fuel Cell Systems

4.4.3     Fuel Cells for comCHP

4.5   Feedstocks

4.5.1     Natural Gas

4.5.2     Opportunity Fuels

4.6   Efficiencies and Emissions Profiles

4.7   Complementary Technologies

4.7.1     Chillers

4.7.2     Thermoelectric Generators

4.8   comCHP Innovation

4.8.1     Solar Cogeneration

4.8.2     Smart Energy Building Systems

5. Key Industry Players

5.1   2G-CENERGY Power Systems Technologies, Inc.

5.2   Ameresco, Inc.

5.3   Capstone Turbine Corporation

5.4   Caterpillar, Inc.

5.5   Cogenra Solar

5.6   Cummins Power Generation

5.7   Dresser-Rand

5.8   ESS

5.9   FlexEnergy, Inc.

5.10  FuelCell Energy

5.11  Fuji Electric

5.12  GE Energy

5.13  Honeywell International

5.14  IntelliGen Power

5.15  Leva Energy

5.16  MTU Onsite Energy

5.17  MWM, GmbH

5.18  Tecogen, Inc.

5.19  UTC Power

5.20  Wärtsilä

6. Market Forecasts

6.1   Methodology

6.2   Key Flex Points

6.3   Global Building Stock

6.4   Regional Markets

6.4.1     North America

6.4.2     Europe

6.4.3     Asia Pacific

6.5   Market Forecasts by Region

6.5.1     Installed Capacity

6.5.2     System Installments

6.5.3     Average Installation Size

6.6   Market Forecasts by Application Group

6.6.1     Installed Capacity

6.6.2     Growth Rates

6.7   Market Value Forecasts

6.7.1     By Region

6.7.2     By Application Group

7. Company Directory
8. Acronym and Abbreviation List
9. Table of Content
10. Table of Charts and Figures
11. Scope of Study, Sources and Methodology, Notes

List of Charts and Figures

• comCHP Installed Capacity by Region, World Markets:  2012-2022
• Total Primary Energy Demand, World Markets: 1990-2030
• Spot Price of Natural Gas by Market, World Markets: 2001-2010
• CO2 Emissions with Electricity and Heat Allocated, Consumer Sector: 2008
• Share of Installed comCHP Capacity by Application Group, United States: 2011
• Commercial Building Stock by Type, United States: 2012-2022
• Commercial Building Stock by Type, Germany: 2012-2022
• Commercial Building Stock by Type, China: 2012-2022
• Raw Biogas Annual Production Capacity by Region, World Markets: 2012-2022
• Commercial Building Stock by Type, World Markets: 2012-2022
• Commercial Building Stock by Type, Asia Pacific: 2012-2022
• comCHP System Installments by Region, World Markets: 2012-2022
• Average comCHP Installation Size by Region, World Markets: 2012-2022
• Installed comCHP Capacity by Application Group, World Markets: 2012-2022
• Installed comCHP Capacity Compound Annual Growth Rates by Region and Application Group, World Markets: 2012-2022
• comCHP Revenue by Region, World Markets: 2012-2022
• comCHP Revenue by Application Group, World Markets: 2012-2022

List of Tables

• comCHP Installed Capacity by Region, World Markets: 2012-2022
• comCHP Application Groups
• comCHP Applications by Size
• Estimated Losses Per Hour of Grid Failure
• State RPS Targets that Include CHP or Waste Heat as Eligible Resource
• Total Primary Energy Demand, World Markets: 1990-2030
• Spot Price of Natural Gas by Market, World Markets: 2001-2010
• CO2 Emissions with Electricity and Heat Allocated, Consumer Sector: 2008
• Banding System for CHP and Non-CHP Equivalents
• Share of Installed comCHP Capacity by Application Group, United States: 2011
• Commercial Building Stock by Type, United States: 2012-2022
• Commercial Building Stock by Type, Germany: 2012-2022
• Commercial Building Stock by Type, China: 2012-2022
• Summary of CHP Technologies
• Prime Mover Technology Characteristics
• Summary of Fuel Cell Types and Operating Characteristics
• Summary of Efficiencies and Emissions Profiles by Technology
• Raw Biogas Annual Production Capacity by Region, World Markets: 2012-2022
• Commercial Building Stock by Type, World Markets: 2012-2022
• Commercial Building Stock by Type, Asia Pacific: 2012-2022
• comCHP Installed Capacity by Region, World Markets: 2012-2022
• comCHP System Installments by Region, World Markets: 2012-2022
• Average comCHP Installation Size by Region, World Markets: 2012-2022
• Installed comCHP Capacity by Application Group, World Markets: 2012-2022
• Installed comCHP Capacity Compound Annual Growth Rates by Region and Application Group, World Markets: 2012-2022
• comCHP Revenue by Region, World Markets: 2012-2022
• comCHP Revenue by Application Group, World Markets: 2012-2022

The global fuel cell industry is growing at a rapid pace, having posted a compound annual growth rate (CAGR) of 83% during the period from 2009 to 2011. However, the industry is still small, particularly compared to some of its other counterparts in the clean energy arena such as solar and wind. And the fuel cell industry still suffers from a pattern of expansion and contraction. During 2011, for example, system shipments in the portable fuel cell sector contracted by 16% on a year-over-year basis, and in the process the sector lost a number of companies.

Meanwhile, the stationary sector posted the highest growth in 2011, primarily driven by the surge of interest in residential combined heat and power (resCHP) systems in Japan following the meltdown of the Fukushima Daiichi nuclear power plant. Companies such as FuelCell Energy increased their production. As a result, system shipments in the global stationary sector in 2011 grew by 75% over 2010 and posted a 2009-2011 CAGR of 63%. The dichotomy between the portable and stationary sectors illustrates the fact that the fuel cell industry remains a complex and multifaceted market, with adoption patterns – and the health of the supply chain – varying significantly among different application segments. Despite a number of challenges, however, the industry continues to be driven forward by concerns about the cost of energy, a continued focus around the world on clean energy policy initiatives, and the overall transition to a smart energy paradigm.

This Pike Research report provides an assessment of the state of the global fuel cell market across its three major industry sectors: stationary, portable, and transport. The study includes qualitative and quantitative analysis of demand drivers and barriers, public policy factors, and key industry players in the worldwide fuel cell industry. Market sizing and forecasts are included for megawatts shipped, electrolyte adoption rates, system shipments, and revenue by sector and application. This year’s edition of the report also includes a special section on the impact that the current natural gas boom could have on the fuel cell industry.

Key Questions Addressed:

• What is the current growth rate of the fuel cell industry, by region and by sector?
• How could the natural gas boom in the U.S. impact the fuel cell industry?
• What was investment activity like in the fuel cell industry during 2011?
• How are the markets for fuel cell electrolytes diverging?
• What were the major policy updates, and implications thereof, in major fuel cell markets around the world?
• Why did the portable fuel cell sector drop so dramatically in 2011?
• Which country is leading in terms of fuel cell manufacturing?
• Which regions are best positioning themselves to be leaders in fuel cell manufacturing?
• Why does the price of residential fuel in the U.S. make the country ripe for the deployment of fuel cells?

Who needs this report?

• Fuel cell system and stack developer companies
• Fuel cell component suppliers
• Government agencies
• Industry associations
• Investor community

Table of Contents

1.  Executive Summary

1.1   Market Overview

1.2   Market Forecasts

2.  Market Issues

2.1   Introduction

2.2   Drivers for Fuel Cell Adoption

2.2.1     Transition to a Smart Energy Paradigm

2.2.2     Energy, Climate Change Mitigation, and Transport Policy

2.2.2.1     Europe

2.2.2.1.1.             EU Energy Roadmap 2050

2.2.2.1.2.             Germany’s Shift to Renewable Energy – and Away from Nuclear

Combined Heat and Power Act (KWKG)

Callux Program

Relaunched MicroCHP Program

2.2.2.1.3.             UKH2Mobility and H2Mobility

2.2.2.2     Asia Pacific

2.2.2.2.1.             South Korea’s Renewable Portfolio Standard

2.2.2.2.2.             Japan’s Shift to Renewable Energy – and Away from Nuclear

2.2.2.2.3.             Australia’s Energy White Paper

2.2.2.3     Rest of World

2.2.2.3.1.             India’s Green Telecom Policy

2.2.3     Cost of Energy

2.2.4     Summary of Drivers for Fuel Cell Adoption

2.3   Barriers for Fuel Cell Adoption

2.3.1     Cost

2.3.2     Policy

2.3.3     Customer Awareness

3.  2011 Market Development

3.1   Introduction

3.2   Global Market Development, 2009-2011

3.3   Development by Sector and Application, 2009-2011

3.3.1     Stationary

3.3.1.1     Systems Shipped

3.3.1.2     Megawatts Shipped

3.3.2     Portable – Bloodbath in the Portable Fuel Cell Space

3.3.2.1     Systems Shipped

3.3.2.2     Megawatts Shipped

3.3.3     Transport

3.3.3.1     Systems Shipped

3.3.3.2     Megawatts Shipped

3.4   Stacks

3.5   Development by Company

3.5.1     Market Share

3.5.2     Funding

3.6   Development by Revenue

3.6.1     By Sector

3.6.2     By Region

3.7   Development by Region and Country

3.7.1     Global

3.7.2     North America

3.7.2.1     United States

3.7.3     Europe

3.7.3.1     Germany

3.7.4     Asia Pacific

3.7.4.1     Japan

3.7.4.2     South Korea

3.8   Development by Electrolyte

3.8.1     Polymer Electrolyte Membrane (PEM) Fuel Cells

3.8.1.1     Low-temperature (LT) PEM Fuel Cells

3.8.2     Direct Methanol Fuel Cells (DMFCs)

3.8.3     Solid Oxide Fuel Cells (SOFCs)

3.9   Development by Fuel

3.9.1     Direct Hydrogen

4.  The Development of the Natural Gas Market and Its Potential Impact on the Deployment of Fuel Cell Systems

4.1   Introduction

4.2   Rate of Adoption

4.3   Opening Up of New Markets

4.3.1     Natural Gas Compressor Stations

5.  Key Industry Players

5.1   Introduction

5.2   Stationary

5.2.1     AFC Energy (AFC: Prime Power: United Kingdom)      55

5.2.2     Altergy Systems (PEM: Backup Power, United States)

5.2.3     Ballard Power Systems (PEM: Prime Power: Canada)

5.2.4     Bloom Energy (SOFC: Prime Power: United States)

5.2.5     Ceramic Fuel Cells Ltd. (SOFC: resCHP: Australia)

5.2.6     Ceres Power (SOFC: resCHP: United Kingdom)

5.2.7     ClearEdge Power (HT PEM: Prime Power and Backup Power: United States)

5.2.8     Dantherm Power (PEM: Backup Power and resCHP: Denmark)

5.2.9     Diverse Energy (PEM: Off-grid Power: United Kingdom)

5.2.10   Electro Power Systems (PEM: Backup Power: Italy)

5.2.11   FuelCell Energy (MCFC: Prime Power: United States)

5.2.12   Hydrogenics (PEM: Prime Power & Backup Power: Canada)

5.2.13   JX Nippon (SOFC: resCHP: Japan)

5.2.14   Nedstack (PEM: Stacks: Netherlands)

5.2.15   ReliOn Inc. (PEM: Backup Power and Off-grid Power: United States)

5.2.16   Tropical (PEM: resCHP and Backup Power: Greece)

5.2.17   UTC Power (PAFC: Prime Power: United States)

5.3   Portable

5.3.1     Horizon Fuel Cell (PEM: External Battery Rechargers: Singapore)

5.3.2     Jadoo Power (PEM: Portable Generators: United States)

5.3.3     Lilliputian Systems (SOFC: External Battery Rechargers: United States)

5.3.4     myFC (PEM: External Battery Rechargers: Sweden)

5.3.5     SerEnergy (HT PEM: Portable Generators: Denmark)

5.3.6     SFC Energy (DMFC: Portable Generators: Germany)

5.4   Transport

5.4.1     Daimler AG (PEM: LDV: Germany)

5.4.2     H2logic (PEM: Range Extenders and Forklifts: Denmark)

5.4.3     Honda (PEM: LDV: Japan)

5.4.4     Hyundai-Kia Automotive Group (PEM: LDV: South Korea

5.4.5     Plug Power (PEM: Industrial Vehicles: United States)

5.4.6     Toyota (PEM: LDV: Japan)

6.  Market Forecasts, 2012-2017

6.1   Introduction

6.2   Model Overview

6.3   Megawatts Shipped, 2012-2017

6.4   Shipments by Sector, 2012-2017

6.5   Electrolyte Mix, 2012-2017

6.6   Revenue, 2012-2017

6.7   Region of System Manufacture, 2012-2017

6.8   Qualitative Overview of Key Flex Points in Model

6.8.1     New Companies Coming into the Market

6.8.2     New Markets Opening Up

6.8.3     New Policy Direction from Government

7.  Company Directory
8.  Acronym and Abbreviation List
9.  Table of Contents
10.  Table of Charts and Figures
11.   Scope of Study, Sources and Methodology, Notes

List of Charts and Figures

• MWs of Fuel Cell Products Shipped by Electrolyte, World Markets: 2009-2011
• Revenue from Smart Energy Storage and Energy Sales, World Markets: 2011
• ENE-FARM Residential Stationary Fuel Cells Systems Shipped, Japan: 2002-2011
• OECD – Indices of Real Energy Prices for Industry (Total Energy), Selected Countries: 2002-2Q 2011
• OECD – Indices of Real Energy Prices for Residential Users (Total Energy), Selected Countries: 2002-2Q 2011
• Fuel Cell Systems Shipped by Sector, World Markets: 2009-2011
• MWs of Fuel Cell Systems Shipped by Sector, World Markets: 2009-2011
• Stationary Fuel Cell Systems Shipped by Application, World Markets: 2009-2011
• MWs of Stationary Fuel Cell Systems Shipped by Application: World Markets: 2009-2011
• Portable Fuel Cell Systems Shipped by Application, World Markets: 2009-2011
• MWs of Portable Fuel Cell Systems Shipped by Application, World Markets: 2009-2011
• Transport Fuel Cell Systems Shipped by Application, World Markets: 2009-2011
• MWs of Transport Fuel Cell Systems Shipped by Application: World Markets: 2009-2011
• Percentage of Fuel Cell Stacks Shipped by Sector, World Markets: 2011
• Fuel Cell System Shipments by Top 11 Companies, World Markets: 2011
• Fuel Cell Systems Revenue by Sector, World Markets: 2009-2011
• Fuel Cell Systems Revenue by Region, World Markets: 2009-2011
• MWs of Fuel Cell Systems Shipped by Region, World Markets: 2009-2011
• MWs of Fuel Cell Systems Shipped by Sector, North America: 2009-2011
• Number of Fuel Cell Systems Shipped from U.S. Companies: 2009-2011
• MWs of Fuel Cell Systems Shipped by Sector, Europe: 2009-2011
• Number of Fuel Cell Systems Shipped from German Companies: 2009-2011
• MWs of Fuel Cell Systems Shipped by Sector, Asia Pacific: 2009-2011
• Number of Fuel Cell Systems Shipped from Japanese Companies: 2009-2011
• Number of Fuel Cell Systems Shipped from South Korean Companies: 2009-2011
• Fuel Cell Systems Shipped by Electrolyte Type, World Markets: 2009-2011
• MWs of Fuel Cell Systems Shipped by Electrolyte Type, World Markets: 2009-2011
• LT PEM Systems Shipped by Sector, World Markets: 2009-2011
• DMFC Systems Shipped by Sector, World Markets: 2009-2011
• MWs of SOFC Fuel Cell Systems Shipped by Sector, World Markets: 2009-2011
• Fuel Cell Systems Shipped by Fuel Type, World Markets: 2009-2011
• Fuel Cell Systems Using Direct Hydrogen by Sector, World Markets: 2009-2011
• Natural Gas Price, Residential and Commercial, United States: January 2010 to February 2012
• Unsubsidized Levelized Cost of Energy, United States: 2011
• MWs of Fuel Cell Systems Shipped by Sector, World Markets: 2012-2017
• Fuel Cell Systems Shipped by Sector, World Markets: 2012-2017
• Fuel Cell Systems Shipped by Electrolyte, World Markets: 2012-2017
• Fuel Cell Systems Revenue Generated by Sector, World Markets: 2012-2017
• Fuel Cell Systems Manufactured by Region, World Markets: 2012-2017
• Map of Natural Gas Compression Stations, United States: 2008

List of Tables

• Nuclear Plants Taken Offline, Germany: 2011
• Original Small CHP Impulse Program by Subsidy, Germany
• Percentage Renewable Energy Generation Under RPS, South Korea: 2012-2020
• Percentage Renewable Energy Generation Under RPS If All Were Fuel Cells, South Korea
• Stack Components Cost Breakdown: 2011
• OECD – Indices of Real Energy Prices for Industry (Total Energy), Selected Countries: 2002-2Q 2011
• OECD – Indices of Real Energy Prices for Residential Users (Total Energy), Selected Countries: 2002-2Q 2011
• Fuel Cell Systems Shipped by Sector, World Markets: 2009-2011
• MWs of Fuel Cell Systems Shipped by Sector, World Markets: 2009-2011
• Stationary Fuel Cell Systems Shipped by Application, World Markets: 2009-2011
• MWs of Stationary Fuel Cell Systems Shipped by Application, World Markets: 2009-2011
• Transport Fuel Cell Systems Shipped by Application, World Markets: 2009-2011
• MWs of Transport Fuel Cell Systems Shipped by Application, World Markets: 2009-2011
• Portable Fuel Cell Systems Shipped by Application, World Markets: 2009-2011
• MWs of Portable Fuel Cell Systems Shipped by Application, World Markets: 2009-2011
• Fuel Cell Systems Shipped by Fuel Type, World Markets: 2009-2011
• Fuel Cell Systems Using Direct Hydrogen by Sector, World Markets: 2009-2011
• 10 Largest Natural Gas Compression Stations, United States: 2006
• Natural Gas Price, Residential and Commercial, United States: January 2010 to February 2012
• Unsubsidized Levelized Cost of Energy, United States: 2011
• Nuclear Plants Taken Offline, Germany: 2011
• Original Small CHP Impulse Program by Subsidy, Germany
• Percentage Renewable Energy Generation Under RPS, South Korea
• Percentage Renewable Energy Generation Under RPS If All Were Fuel Cells, South Korea
• Stack Components Cost Breakdown: 2011
• 10 Largest Natural Gas Compression Stations, United States: 2006
• AFC Energy SWOT Analysis
• Altergy Systems SWOT Analysis
• Ballard Power Systems SWOT Analysis
• Bloom Energy SWOT Analysis
• Ceramic Fuel Cells Ltd. SWOT Analysis
• Ceres Power SWOT Analysis
• ClearEdge Power SWOT Analysis
• Dantherm Power SWOT Analysis
• Diverse Energy SWOT Analysis
• Electro Power Systems SWOT Analysis
• FuelCell Energy SWOT Analysis
• Hydrogenics SWOT Analysis
• JX Nippon SWOT Analysis
• Nedstack SWOT Analysis
• ReliOn SWOT Analysis
• Tropical SWOT Analysis
• UTC Power SWOT Analysis
• Horizon Fuel Cells SWOT Analysis
• Jadoo Power SWOT Analysis
• Lilliputian Systems SWOT Analysis
• myFC SWOT Analysis
• SerEnergy SWOT Analysis
• SFC Energy SWOT Analysis
• Daimler AG SWOT Analysis
• H2Logic SWOT Analysis
• Honda SWOT Analysis
• Hyundai-Kia SWOT Analysis
• Plug Power SWOT Analysis
• Toyota SWOT Analysis
• Types of Events that Affect a Forecast
• Fuel Cell Systems Shipped by MWs and Sector, World Markets: 2012-2017
• Fuel Cell Systems Shipped by Sector, World Markets: 2012-2017
• Fuel Cell Systems Shipped by Electrolyte Type, World Markets: 2012-2017
• Fuel Cell Systems Revenue Generated by Sector, World Markets: 2012-2017
• Fuel Cell Systems Manufactured by Region, World Markets: 2012-2017

Smart energy is “the range of efficient technological options available to providing electricity in a distributed fashion, either for local use or for grid support.” It is the increasing shift to a modular and distributed systems-based approach to energy. Until recently, the focus has solely been on renewable energy, but with the emergence into the commercial marketplace of energy storage systems and advanced, efficient, conversion devices such as fuel cells, it is increasingly a systems-based network that is posting significant year-on-year growth. Pike Research’s analysis indicates that the size of the smart energy market is now growing at such a pace that it represents, in 2011, over 10% of the global annual additional capacity forecast by the International Energy Agency.

A number of convergent market drivers are leading to expanded availability and increasing revenue opportunities across the smart energy continuum. Such drivers include the rising costs of maintaining the current energy system as well as regulatory and policy initiatives in many countries around the world. In the policy arena, the European Union is leading the way, but a number of other countries, including Australia and South Africa, are positioning themselves as early adopters of smart energy technologies.

This Pike Research report provides a comprehensive view of the smart energy market across three main application sectors – renewable energy production, energy storage, and energy conversion devices – along with 15 key subsectors. The study examines key market trends and issues in smart energy hotspots around the world and includes profiles of more than 30 trendsetting companies in the smart energy space. Revenue and capacity snapshots are provided by technology and region for 2011 and 2013, with key topline forecasts extending through 2015.

Key Questions Addressed:

• What was the total revenue from the smart energy market in 2011?
• What will the revenue from the smart energy market be in 2013?
• What are the current annual capacity additions to the global market from renewable energy, energy storage, and advanced energy conversion devices?
• Why is the EU policy in this sector important?
• Which countries are setting the pace in key smart energy sectors?
• What are the leading companies to watch across the smart energy space?

Who needs this report?

• Smart energy technology companies
• Energy project developers and service providers
• Utilities
• Government agencies
• Industry associations
• Investor community

Table of Contents

1.     Executive Summary

1.1   Introduction

1.2   Global Overview

2.     Market Overview

2.1   Smart Energy – What Is It?

2.2   Window of Opportunity for Smart Energy

2.2.1     Availability of Technology

2.2.2     Investment Cost

2.3   Market Drivers

2.3.1     Subsidies and Incentives

2.3.2     United States

2.3.2.1     Energy Overview

2.3.2.2     Policy Overview

2.3.2.3     Incentives

2.3.2.4     State Renewable Portfolio Standards

2.3.2.5     Regulatory Outlook

2.3.2.5.1.     Biofuels – Renewable Fuel Standard (RFS)

2.3.2.5.2.     RFS2

2.3.3     European Union

2.3.3.1     Energy Overview

2.3.3.2     Policy Overview

2.3.3.3     EU Renewable Energy Directive 2020

2.3.3.4     EU Energy Roadmap 2050

2.3.4     Germany

2.3.4.1     Energy Overview

2.3.4.2     Policy Overview

2.3.4.2.1.     Renewable Energy Heat Act (EEWG)

2.3.4.2.2.     Combined Heat and Power Act (KWKG)

2.3.4.2.3.     Callux Program

2.3.4.2.4.     Relaunched MicroCHP Program

2.3.5     Japan

2.3.5.1     Energy Overview

2.3.5.2     Policy Overview

2.3.5.2.1.     Fuel Cell resCHP Systems

2.3.5.3     2011 Subsidy Programs in Japan

2.3.6     South Korea

2.3.6.1     Energy Overview

2.3.6.2     Policy Overview

2.3.7     Australia

2.3.7.1     Energy Overview

2.3.7.2     Policy Overview

2.3.7.2.1.     Australia’s Renewable Energy Target

2.3.7.2.2.     Australia’s Energy White Paper

2.3.8     South Africa

2.3.8.1     Energy Overview

2.3.8.2     Policy Overview

2.4   Summary

3.     Technology Issues

3.1   Overview

3.2   Biofuels and Biopower

3.2.1     Technology Commercialization

3.2.2     Advances in Conversion Processes

3.3   Biomass Supply Chain

3.3.1     Sourcing Biomass

3.3.2     Material Preparation

3.3.2.1     Chipping

3.3.2.2     Pelleting and Briquetting

3.3.2.3     Pyrolysis

3.3.2.4     Torrefaction

3.4   Biomass Conversion Technologies

3.4.1     Biomass Feedstock Costs

3.4.2     Power Production Costs

3.4.2.1     Combustion

3.4.2.2     Biomass Integrated Gasification Combined Cycle (BIGCC)

3.4.2.3     Landfill Gas

3.4.2.4     CHP

3.5   Stationary Fuel Cells

3.5.1     Durability

3.5.2     Standardization

3.5.3     Aligning the Product with Market Need

3.5.4     Codes and Standards

3.5.5        Lack of Market Awareness

3.5.6     Fuel Availability/Fuel Flexibility

3.6   Energy Storage for the Grid (ESG)

3.6.1     Compressed Air Energy Storage (CAES)

3.6.2     Pumped Storage

3.6.3     Sodium Sulfur (NaS)

3.6.4     Flow Batteries

3.6.5     Lithium Ion (Li-ion)

4.     Companies to Watch

4.1   Overview

4.2   Marine and Hydrokinetic

4.2.1     Aquamarine Power

4.2.2     Marine Current Turbines (MCT)

4.2.3     Ocean Power Technologies (OPT)

4.2.4     OpenHydro

4.2.5     Verdant Power

4.3   Solar

4.3.1     ACCIONA Energy

4.3.2     First Solar

4.3.3     REC Solar

4.3.4     SunPower

4.3.5     Suntech

4.4   Wind

4.4.1     Enercon

4.4.2     GE Wind Energy

4.4.3     Goldwind Science & Technology Co.

4.4.4     Sinovel Wind Group

4.4.5     Vestas

4.5   Energy Storage for the Grid

4.5.1     A123 Systems

4.5.2     AES Energy Storage

4.5.3     MWH Global

4.5.4     NGK Insulators

4.5.5     Sumitomo

4.6   Community and Residential Energy Storage

4.6.1     ABB

4.6.2     Altairnano

4.6.3     Beacon Power

4.6.4     LG Chem

4.6.5     S&C Electric

4.7   Stationary Fuel Cells

4.7.1     Altergy

4.7.2     Ballard Fuel Cell

4.7.3     ClearEdge Power

4.7.4     Dantherm Power

4.7.5     FuelCell Energy

4.8   Biofuels

4.8.1     American Renewables

4.8.2     Dalkia

4.8.3     FibroWatt

4.8.4     Vattenfall

4.9   Biopower

4.9.1     BP Biofuels

4.9.2     Joule Unlimited

4.9.3     LanzaTech

4.9.4     Solazyme

5.     Market Position, 2011 and 2013

5.1   Overview

5.2   Global Overview

5.2.1     Smart Energy Revenue Generation

5.2.2     Smart Energy Capacity Additions

5.3   Discussion by Region

5.3.1     North America

5.3.2     Latin America

5.3.3     Europe

5.3.4     Asia Pacific

5.3.5     Rest of World

5.4   Summary

6.     Company Directory
7.     Acronym and Abbreviation List
8.     Table of Contents
9.     Table of Charts and Figures
10.   Scope of Study, Sources and Methodology, Notes

List of Charts and Figures

• Revenue from Smart Energy by Region, World Markets: 2011
• Electricity Production by Fuel Type, United States:  2008
• CAGR of Biopower Commercial-Scale Producers, United States: 2008-2010
• RFS2 Mandate, United States: 2009-2022
• Final Energy Consumption by Sector, European Union: 2010
• Gross Inland Consumption by Fuel, European Union:  2010
• Renewable Energy Penetration Share, European Union:  2009 and 2020
• Electricity Production by Fuel Type, Germany: 2008
• Electricity Production by Fuel Type, Japan: 2008
• resCHP Fuel Cell Systems Installed, Japan: 2009-2011
• Electricity Production by Fuel Type, South Korea: 2008
• Energy Consumption by Fuel Type, Australia: 2011
• Energy Consumption by Sector, Australia: 2011
• Cost Comparison of Biomass Combustion and Gasification Technologies, World Markets: 2011
• Smart Energy Revenue Share by Region, World Markets: 2011
• Smart Energy Revenue Share by Sector, World Markets: 2011
• Smart Energy Storage and Energy Sales by Sector and Region, World Markets: 2011
• Smart Energy Storage and  Energy Revenue by Region, World Markets: 2011-2015
• Smart Energy Installation Capacity Additions by Sector and Region, World Markets: 2011
• Smart Energy Installation Capacity Additions by Region, World Markets: 2011-2015
• Smart Energy Technology and Fuel Procurement Revenue, North America: 2011 and 2013
• Smart Energy Capacity Additions by Sector, North America: 2011 and 2013
• Smart Energy Technology and Fuel Procurement Revenue by Sector, Latin America: 2011 and 2013
• Smart Energy Capacity Additions by Sector, Latin America: 2011 and 2013
• Smart Energy Technology and Fuel Procurement Revenue by Sector, Europe: 2011 and 2013
• Smart Energy Capacity Additions by Sector, Europe: 2011 and 2013
• Smart Energy Technology and Fuel Procurement Revenue by Sector, Asia Pacific: 2011 and 2013
• Smart Energy Capacity Additions by Sector, Asia Pacific: 2011 and 2013
• Smart Energy Technology and Fuel Procurement Revenue by Sector, Rest of World: 2011 and 2013
• Smart Energy Capacity Additions by Sector, Rest of World: 2011 and 2013
• Areas of Smart Energy
• German Regional Generation Mix
• ENE-FARM Projected Cost-Down Curve
• Platinum Loadings in PEM Fuel Cells:  2006-2015
• Commercialization Status of Major Biomass Technologies
• Biomass Collection, Storage, and Delivery Process Options
• Energy Storage Characteristics

List of Tables

• Commercial Availability of the Smart Energy System Components, World Markets: 2009 and 2011
• Renewable Energy Policies and Incentives, World Markets: 2011
• Biomass Incentives Description and Scheduled Duration, United States: 2011
• Summary of Renewable Portfolio Standards, United States: 2011
• GHG Reductions Compared to 1990 Base Year, EU27:  2005-2050
• Nuclear Plants Taken Offline, Germany: 2011
• Original Small CHP Impulse Program by Subsidy, Germany: 2010
• New and Renewable Energy (NRE) Feed-In Tariff Scheme, South Korea: 2011
• Fuel Cell Materials and Resource Locations, World Markets: 2011
• Smart Energy Adoption by Country, World Markets: 2011
• Electricity Production by Fuel Type, United States: 2008
• Final Energy Consumption by Market Sector, European Union: 2008
• Gross Inland Consumption by Fuel Type, European Union:  2010
• Renewable Energy Penetration Share, European Union: 2007-2020
• Electricity Production by Fuel Type, Germany:  2008
• Electricity Production by Fuel Type, Japan:  2008
• resCHP Fuel Cell Systems Installed, Japan: 2009-2011
• Electricity Production by Fuel Type, South Korea:  2008
• Energy Consumption by Fuel Type, Australia: 2011
• Energy Consumption by Sector, Australia: 2011
• Moisture Content of Biomass Feedstocks, World Markets: 2011
• Power Generation from Biomass by Technology, World Markets: 2011
• Relative Costs of Fossil Fuel and Biomass Resources, World Markets: 2011
• Stack Components Cost Breakdown, World Markets: 2011
• ESG Technology Strengths and Weaknesses
• Cost Comparison of Biomass Combustion and Gasification Technologies, World Markets: 2011
• BP’s Key Biofuels Investments, World Markets: 2008-2011
• Smart Energy Revenue by Sector, World Markets: 2011
• Smart Energy Technology and Fuel Procurement Revenue, North America: 2011 and 2013
• Smart Energy Capacity Additions by Sector, North America: 2011 and 2013
• Smart Energy Technology and Fuel Procurement Revenue by Sector, Latin America: 2011 and 2013
• Smart Energy Capacity Additions by Sector, Latin America: 2011 and 2013
• Smart Energy Technology and Fuel Procurement Revenue by Sector, Europe: 2011 and 2013
• Smart Energy Capacity Additions by Sector, Europe: 2011 and 2013
• Smart Energy Technology and Fuel Procurement Revenue by Sector, Asia Pacific: 2011 and 2013
• Smart Energy Capacity Additions by Sector, Asia Pacific: 2011 and 2013
• Smart Energy Capacity Additions by Sector, Rest of World: 2011 and 2013
• Smart Energy Revenue and Installed Capacity, World Markets: 2011
• Smart Energy Storage and Energy Sales by Region, World Markets: 2011-2015
• Smart Energy Storage and Energy Sales by Sector and Region, World Markets: 2011 and 2013
• Smart Energy Installation Capacity Additions by Region, World Markets: 2011-2015
• Smart Energy Installation Capacity Additions by Sector and Region, World Markets: 2011 and 2013
• Smart Energy Technology and Fuel Procurement Revenue by Sector, Rest of World: 2011 and 2013