Published on : Sep 24, 2019
Albany, New York, September 24, 2019: Soaring need for a cost-effective, secure, less polluting and efficient form of energy has rekindled interest in the use of micro combined heat & power (micro CHP) systems. Micro CHP systems can play significant role in diversifying the energy mix of a country with the heat from installation and local production of electricity ideal to consumption location.
According to Environment Protection Agency of the USA, the average efficiency of fossil-fueled power plants in the U.S. is 33%. The agency infers almost 2/3rd of the energy used to produce electricity is wasted in the form of heat discharged to the atmosphere. As such, CHP systems help to recover the wasted heat and achieve total efficiencies between 60 and 80 percent for producing useful thermal energy and electricity. Accordingly, micro-CHP can transform consumer into energy “prosumers,” thereby giving greater control over their energy bills.
These insights are according to the intelligence report, titled, “Global Micro Combined Heat & Power (Micro CHP) Market 2019-2023, Trends and Forecast Report,” which has been freshly added to Market Research Hub’s (MRH) overarching repository.
Micro-CHP decarbonizes heat and electricity production as it is a highly efficient way of using gas for power and heating production. Moreover, CHP needs less fuel to generate a specific energy output and averts transmission and distribution losses. CHP has become popular among stakeholders give it is an on-site generation resource and can be framed to underpin relentless operations in the event of grid disruption or disaster.
Micro-CHP has made stakeholders active players in the energy system as it helps them cut their carbon footprint and be among producers-consumers (prosumers). Micro-CHP has provided a new alternative to North American and European consumers who vie to play an indispensable role in the energy system. Nevertheless, it boosts consumers to embrace more efficient and low carbon heating systems.
Micro Combined Heat & Power (Micro CHP) Market: Report Synopsis
Quantitative and qualitative assessment exhort intelligence and overarching report on the micro combined heat & power (micro CHP) market. Further, the report thoroughly delineates various aspects of the market that will potentially have considerable influence on the development of the micro combined heat & power (micro CHP) market. As such, those aspects incorporate drivers, trends, restraints, and opportunities. Furthermore, the report elucidates segregation of the market that provides an exhaustive analysis on micro combined heat & power (micro CHP).
An insightful and deep-dive assessment of the competitive assessment of the micro combined heat & power (micro CHP) market pins hope on Porters’ Five Force Analysis. Accordingly, the Porters’ Five Force Analysis offers a pressing analysis on the potential strategies of the preeminent players in the micro combined heat & power (micro CHP) market. In addition, the business strategies counts on company overview, product portfolio, SWOT analysis, key differentiation and recent development.
Micro Combined Heat & Power (Micro CHP) Market: Research Methodology
Primary sources and secondary sources propel intelligence report on micro combined heat & power (micro CHP) market that provide deep dive analysis on the market. As such, the report provides reliable and unbiased projections, and assessments which have palpable impact on the market size and historical data. Besides, the report also counts on primary sources which hinges upon in-depth and intelligent analysis from well-grounded and reliable experts, telephonic interview, and a thorough assessment from surveys and seasoned analyst. Report on micro combined heat & power (micro CHP) market further acknowledges secondary sources—namely—Factiva, EC filing, press release, trade journals, resourceful database and governmental websites.
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