Worldwide revenue from the biomass energy market is expected to touch $11.5bn annually by 2020, according to a new report from Navigant Research.
The new report, ‘Market Data: Biomass Power Generation‘, said biopower can also optimise existing industrial processes, such as combined heat and power (CHP) installations, reducing coal emissions through co-firing, and onsite generation for industrial facilities.
The biopower market expansion is mainly dependent on government policies, which can be either aspirational or mandated.
The official targets for the integration of renewable energy from biomass are based on the policies set by the governments.
According to the report, the growth in the biomass sector is affected if incentives and subsidies continue to be implemented on an ad hoc basis.
Navigant Research principal research analyst Mackinnon Lawrence said: "Offering dispatchable, baseload support to the grid with high load reliability, biopower will continue to play a cornerstone role in meeting renewable energy targets.
"Logistical challenges associated with the collection, aggregation, transportation, and handling of biomass, however, will continue to limit the commercial potential of biomass power generation."
The report provides capacity and revenue forecasts, market sizing, and market share analysis for biomass power generation covering co-fired, anaerobic digestion and biorefinery facilities.
The report also provides information about the supply of electricity from biomass and the amount of feedstock consumed at generation facilities on an annual basis.
Image: Biomass power generation market to reach $11.5bn by 2020; Photo: courtesy of Freedigitalphotos.