Promising solutions include chemical looping combustion and an integrated gasification combined cycle, finds Frost & Sullivan
Cape Town, South Africa /PRNewswire/ - The relatively high efficiencies and production rates of renewable energy sources are highlighting the need to make coal-based technologies clean and more effective. Coal-based power production accounts for approximately 41 percent of global electrical energy produced, and will continue to dominate the market for the next two decades. Government funding and private participation are already bringing promising coal-based power generation technologies to the forefront.
"Efficient oxygen carriers and combined cycle plant techniques are propelling the power generation market forward," said TechVision Research Analyst Guhan Sriram R V. "Within the next five years, the development of efficient materials for chemical looping combustion (CLC), along with improvements in reliability of integrated gasification combined cycle (IGCC) plants and carbon sequestration efficiencies, can be expected."
Power Generation Technologies of the Future, analysis from Frost & Sullivan's TechVision Energy & Utility subscription, offers continuous tracking and monitoring of both technology and product developments. The study also covers advancements, market and technology trends and predictions that will result in the creation of new markets, products and services, business models and even new industries within the energy and utility sector.
Click here for complimentary access to more information on this analysis and to register for a Growth Strategy Dialogue, or a free interactive workshop with Frost & Sullivan's thought leaders.
Beyond 2020, CLC will begin to take over as - similar to CO2-based power generation technologies – it is approaching the commercialisation phase. Coal fired magnetohydrodynamic (MHD) is another promising technology; although it is still in the early stages of development.
"For now, IGCC will dominate clean power production," noted Sriram. "The technologies that IGCC are based on, like gasification and steam turbine based power production, are quite well established and any development in these technologies can be easily incorporated to IGCC to improve its performance."
These solutions hold the potential to drive adoption by improving combustion rates significantly, reducing greenhouse gas (GHG) emissions, and increasing efficiencies through better carbon capture opportunities.
Frost & Sullivan's global TechVision practice is focused on innovation, disruption and convergence, and provides a variety of technology-based alerts, newsletters and research services as well as growth consulting services. Its premier offering, the TechVision programme, identifies and evaluates the most valuable emerging and disruptive technologies enabling products with near-term potential. A unique feature of the TechVision programme is an annual selection of 50 technologies that can generate convergence scenarios, possibly disrupt the innovation landscape, and drive transformational growth. View a summary of our TechVision program by clicking on the following link: http://ifrost.frost.com/TechVision_Demo.
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants. For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Contact us: Start the discussion.
Power Generation Technologies of the Future
SOURCE: Frost & SullivanCopyright 2016 PR Newswire. All Rights Reserved