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“Rise in autonomous heat & electricity generation boosts the market for Micro CHP”
The global Micro CHP market is expected to reach a size of USD 4.44 billion by 2020, at a CAGR of 14.2% from 2015 to 2020.Micro CHP technology enables decentralization of energy generation. With the increasing trend of independent heat & electricity generation, the demand for Micro CHP is on the rise in countries such as Germany, the U.K., the U.S. and Japan. Government supported policies, subsidies, high electricity prices, and concern over reducing carbon footprint in the Asia-Pacific, are driving the demand of micro CHP in the region. Japan is dependent on primary energy imports, energy efficiency benefits achieved by micro CHP systems are very valuable, and are driving the demand for residential micro CHP systems in the country.