BOULDER, Colo. — The market for combined heat and power (CHP) systems in commercial buildings is forecast to grow from $2.2 billion in 2012 to $11.2 billion in 2022, according to a new report from Pike Research, a part of Navigant’s Energy Practice.

Current installations of CHP systems in commercial buildings are mostly confined to developed markets in the United States, Europe, South Korea, and Japan, noted Pike Research. The market has been limited, until recently, by high upfront capital costs. Today, though, a growing number of commercial users — from hospitals to schools to business parks — are installing CHP systems as a means of reducing operating expenses, improving power reliability, and reducing carbon emissions, the firm stated.