CHP (Combined heat and power) Installation Market Future Growth Strategies 2027

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Cogeneration or combined heat and power (CHP) is the use of a heat engine or power station to generate electricity and heat at the same time. Conventional power plant produces electricity by a fairly inefficient process. Fossil fuels such as oil, coal, and natural gas are burned in a giant furnace to release heat energy. The heat is used to boil water and produce steam. The steam drives a turbine, which, in turn, drives the generator. The generator produces electricity.

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Increase in environmental concerns is compelling various countries to generate power using renewable sources of energy such as wind, wave, and tidal. New generations of turbines and reciprocating engines are the result of an intensive collaborative research between governments and manufacturers that use advanced materials and computer-aided design techniques. This has significantly increased equipment efficiency and reliability, while reducing costs and pollutant emissions for the installation of CHP. Various governments have implemented policies and programs to promote the usage of cogeneration. Governments are also providing subsidies. Additionally, recovery in the European economy, rapid urbanization in countries such as India and China, rise in disposable income, and increase in government efforts to provide social housing are projected to drive the residential buildings sector. This, in turn, is likely to boost the CHP installation market.

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