Cogeneration or combined heat and power (CHP) systems are used to simultaneously generate both electricity and heat energy from a single fuel source such as natural gas, biomass, wood, coal, waste heat, or oil. CHP systems can operate at levels as high as 77% to 81% as compared to around 46% efficiency of conventional systems and they can reduce carbon emissions by up to 29% as compared to conventional systems. Cogeneration systems have applications in both the industrial and commercial sector, and even in smaller residential applications. CHP equipments include gas turbines, steam turbines, electric generators, heat recovery steam generators (HRSG), boilers and reciprocating engines.
Globally, the Cogeneration Equipment Market is expected to grow at an estimated CAGR of 9% over the next seven years. Rising energy prices is expected to remain a key driving factor for market growth. Europe is expected to exhibit highest growth rate. Asia Pacific is expected to witness significant growth too, owing to increasing CHP systems demand from industrial sector in countries such as China, India and South Korea. North America is expected to witness surge in demand owing to factors such as strict environment norms regarding electricity consumption coupled with shift towards renewable energy. There will be a moderate growth in Middle East and Africa.
Isoil Industria provides solutions for measuring and accounting thermal energy, as well as integrated or remote systems for the calculation of calories and frigories with any type of flowmeter, suitable for the measurement of water, water with glycol, steam, thermal oil, gas, and air. Find out more!