Bloom Energy Corporation, a California-based manufacturer in the stationary fuel cell systems market, recently announced that it will receive a project funding of over US$ 100 million from Key Equipment Finance, a bank-held equipment finance company.

The stationary fuel cell systems market will record a hefty 17.9% y-o-y over 2018 to reach over US$ 2,159 million by the end of 2019, reveals a recent market study published by Fact.MR. The study offers a holistic assessment on various market dynamics and macro and micro-economic factors that are influencing adoption of stationary fuel cell systems in various industrial verticals.

Combined heat and power (CHP) or cogeneration is one of the most common applications of stationary fuel cell systems, which accounted for the largest revenue share of over 45% in 2018, according to the Fact.MR study.

“CHP is one of the most commonly used stationary power generation systems installed to generate electricity as well as heat. In the modern days, fuel cells are widely used in the manufacturing of CHP, which acts of the leading driving force for the growth of the stationary fuel cell systems market,” said a lead analyst at Fact.MR.

“When stationary fuel cell systems are incorporated in CHP, it offers extraordinary benefits in terms of efficiency, sustainability, reliability, and cost-efficiency.

As compared to conventional power generation methods, which commonly involve combustion engines, CHP is considered environment-friendly and highly efficient, which is boosting adoption of stationary fuel cell systems among CHP manufacturers across the world.”

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Apart from the efficiency- and sustainability-related benefits of incorporating stationary fuel cell systems in CHP, subsidies and incentives offered by governing bodies in various regions is providing a fillip to the global demand for stationary fuel cell systems in the CHP industrial sector.

For example, the U.S. Environmental Protection Agency (EPA) removed policy barriers for CHP projects in the region, and it is establishing partnerships with CHP stakeholders to provide them with necessary resources, tools, and policy information.

The positive growth environments for CHP applications in various regions is expected to generate most lucrative opportunities for players in the stationary fuel cell systems market. Consumers’ awareness and favorable regularity framework for CHP is expected to make it the most popular application of stationary fuel cell systems in the upcoming years.

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