Asia-Pacific’s CHP Installed Capacity Grows to 64 GW by 2019
The Asia-Pacific (APAC) region’s distributed Combined Heat and Power (CHP) installed capacity will grow from around 37.7 GW in 2013 to about 64 GW by 2019, at a compound annual growth rate of 9 percent, says an analyst with research and consulting firm GlobalData.
Ankit Mathur, GlobalData’s project manager for alternative energy, states that the region will spend almost $56 billion on bolstering its distributed CHP installed capacity between 2014 and 2019. This is the second largest investment globally behind Europe, which will boast distributed CHP capital expenditure of around $144 billion between 2014 and the end of the forecast period.
China’s significant contribution has been the major driving force behind the expansion of APAC’s distributed CHP installed capacity reaching 37.7 GW by 2013. The country will continue to account for more than 50 percent of the region’s market share, with a forecast net capacity addition of over 14.5 GW between 2014 and 2019.
Mathur says: “Most of China’s current CHP projects are coal-based, presenting a fertile opportunity for market growth, as CHP power plants can employ the existing set-up of coal-fired plants. By moving to technologies that burn fuels with lower emissions, such as gas or biomass, the country can gradually reduce its coal consumption.
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