Global Biopower Installed Capacity to Exceed 165 Gigawatts by 2025, says GlobalData
Global biopower cumulative installed capacity will increase from 87.6 Gigawatts (GW) in 2013 to 165.1 GW by 2025 ----‘With proper financial support and government mandates in place, biopower has become a more viable option,' says analyst
LONDON, UK (GlobalData), 28 October 2014 - The global cumulative installed capacity of biopower will increase from 87.6 Gigawatts (GW) in 2013 to 165.1 GW by 2025, driven by government support and environmental concerns, according to research and consulting firm GlobalData.
The company's latest report* states that the world's major biopower markets, namely the US, UK, Germany, Brazil, India and China, all witnessed growth over the last decade, except for the US, which saw a falling trend in annual capacity additions during 2007 to 2014.
Harshavardhan Reddy Nagatham, GlobalData's Analyst covering Alternative Energy, says: "The annual installation of biopower capacity globally peaked in 2009 at 6.9 GW, due to increased installations in most key biopower countries during that year, and considerable installations in several other countries as well. This was followed by a slight decline in 2010, which can be attributed to the drop in capacity additions in the Americas and Europe as a result of the financial crisis.
"As more countries start adopting biopower, thanks to increased interest and state promotion, annual capacity additions will rise after 2015, although annual installations worldwide will not return to 2009 levels until 2021."
The analyst notes that government support, in terms of renewable energy mandates and financial incentives, such as subsidies and Production Tax Credits, is the major driver behind the successful deployment of large-scale biopower plants.
Furthermore, environmental regulations to reduce emissions are discouraging the use of fossil fuels for power generation, meaning that biopower has an additional advantage as a source of renewable energy.
Nagatham explains: "Waste management practices, such as composting and land filling, indirectly support biopower generation, and many industries have set up biopower facilities to handle their process waste.
"With proper financial support and government mandates in place, biopower has become a more viable option, as well as an appropriate waste management solution. Its conversion into energy simultaneously eliminates waste and provides a sustainable source of power," the analyst concludes.
*Global Biopower Market - Capacity, Generation, Market Size, Major Feedstock, Regulations, and Key Country Analysis to 2025
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