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Dublin, July 22, 2015 (GLOBE NEWSWIRE) -- Research and Markets (http://www.researchandmarkets.com/research/8zw222/global_combined) has announced the addition of the "Global Combined Heat and Power in Commercial Building Market 2015-2019" report to their offering.
The global combined heat and power in commercial building market to grow at a CAGR of 8.3% over the period 2014-2019.
CHP integrates the production of usable heat and electricity in a single, highly efficient process. CHP generates electricity while also capturing the usable heat dissipated during the process. A commercial facility can use CHP to generate both heat and power through one energy-efficient step rather than purchasing electricity from utilities or producing thermal energy from an on-site furnace. This technology has an added advantage of preventing energy loss during transmission and distribution of electricity through national grids or local distribution networks. The high efficiency of CHP technology can result in significant energy savings in commercial buildings.
Need for grid independence is one of the key trends upcoming in the market. Combined heat and power systems are finding application in businesses such as hotels and hospitals, where power outages may result in huge losses. These systems reduce the risk of power failure from electric grid disturbances, and improve energy reliability in the commercial sector.
According to the report, the high competition in the market has resulted in advanced developments in CHP technology, primarily with respect to fuel usage. Several advanced CHP systems use gas, biomass, and liquid fuels for power generation, and this fuel flexibility gives advantage to the customers to use fuels according to their availability.
Further, the report states that the lack of metering arrangements required to manage electricity distribution and meet consumer requirements is one of the biggest hurdles to the growth of the CHP market. The deployment of a CHP plant at commercial establishments requires additional electrical equipment and a reliable electrical connection.
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