July 20, 2012: Installation of Residential Combined Heat and Power Systems Expected to Grow Rapidly
BOULDER, Colo. — The number of installed residential combined heat and power (resCHP) systems, in both single-family and multifamily homes, is expected to reach 13.5 million worldwide by 2022, according to a report from Pike Research. Annual installations of resCHP systems are forecast to increase at a compound annual growth rate (CAGR) of 49 percent for single-family homes and 44 percent for multifamily homes between 2012 and 2022.
The market for resCHP systems — defined as small, distributed energy generation systems that produce electricity for residences while also capturing and making use of waste heat — is still very small, but growing rapidly, noted Pike Research. Only 61,000 systems shipped globally in 2011, a number predicted to increase by 50 percent in 2012.