According to a new report from Pike Research, the total number of installed residential combined heat and power systems, in both single family homes and multi-unit dwellings, will reach 13.5 million by 2022.
These installations will drive an annual market value of $41bn in 2022, the cleantech market intelligence firm forecasts.
"Residential CHP technology has the potential to reduce carbon emissions and increase efficiency in the home while, potentially, reducing consumer energy bills," says research director Kerry-Ann Adamson. "The technologies being developed are increasingly market-ready, and we are reaching a potential tipping point where annual adoption could start to rise sharply."
According to the Pike Pulse Country Grid, which assesses countries on their manufacture and adoption of residential CHP systems, the top three countries in the world are currently Germany, Japan and South Korea.
Pike Research's report, "Residential Combined Heat and Power", analyzes the global market potential for resCHP systems for single-family and multi-family homes using technologies including internal combustion engines, fuel cells, Stirling engines, and Organic Rankine Cycle.
The study includes in-depth assessments of leading countries for the manufacture and adoption of resCHP systems, the technologies utilized in such systems, and the key industry players engaged in this market.
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