BOULDER, Colo. — A new report examining stationary fuels cells for micro-combined heat and power (MCHP), prime power, large combined heat and power (CHP), and uninterruptible power supply (UPS) applications is available from Navigant Research.

The market for stationary fuel cells is transitioning toward maturity and wider adoption, buoyed by improving economics, government support, and growing demand for resilient, dispatchable power, notes the research firm. In addition, technology breakthroughs are giving way to persistent cost declines, product improvements, and business model innovations, making fuel cells viable in a growing range of markets and opening new opportunities for stakeholders that are prepared for the transition. According to the new report from Navigant Research, the global market for new stationary fuel cells is expected to reach $16.2 billion by 2025.

“Stationary fuel cells have needed significant lifecycle cost declines to compete in the broader electricity generation market,” said Adam Forni, senior research analyst with Navigant Research. “Those cost declines — and therefore the industry — are approaching a tipping point, thanks to maturing supply chains, innovative business models, and steady policy support.”

To date, more 150,000 MCHP units have been installed in Japan, where prices have fallen under the successful ENE-FARM subsidy, according to the report. In the United States and South Korea, major energy players like Apple, Constellation Energy, and POSCO Energy have invested millions in fuel cell projects, while strong policy support in Japan and South Korea are anticipated to drive broad adoption, with similar effects expected in other advanced economies in North America and Europe.

The report, Stationary Fuel Cells, provides an analysis of key market and technology developments, and covers proton exchange membrane, solid oxide, molten carbonate, phosphoric acid, alkaline, and direct methane fuel cells.

An executive summary of the report is available here.

Publication date: 11/15/2016

Want more HVAC industry news and information? Join The NEWS on Facebook, Twitter, and LinkedIn today!