July 25, 2014: Stationary Fuel Cells to Experience Continued Strong Growth, CHP Leads Way
Stationary Sector Is Seeing a Boom in Prime Power and Residential Combined Heat and Power Systems
BOULDER, Colo. — Although some sectors of the fuel cell industry have struggled, stationary fuel cells have seen two years of strong growth, with an ongoing boom in prime power and residential combined heat and power (CHP) system shipments. According to a new white paper from Navigant Research, while the broader fuel cell industry struggles, the stationary sector will continue to expand rapidly in the coming years.
“The stationary fuel cell sector represented more than 70 percent of global fuel cell revenue at the end of 2013, and there are already large new orders on the books for 2014,” said Lisa Jerram, senior research analyst with Navigant Research. “Along with renewed attention to fuel cell vehicles, these developments are causing usually cautious investors to take a new look at the fuel sector.”
CHP systems have seen the most unit deployments, according to the report, while electric-only prime power applications have more capacity deployed. These trends reflect competing views about which of these markets will ultimately be the most attractive for fuel cells.
Some of the key trends, according to the white paper, are:
• Fuel cells are back on the radar of the U.S. media.
• Investors are cautiously coming off the fence on fuel cells.
• CHP is on a path to surpass prime power stationary fuel cells.
• Fuel cells face stiff competition from engine- or turbine-based CHP.
• The booming North American microgrid market offers opportunity for fuel cells.
Publication date: 7/21/2014