Track L | Emerging Energy Trends
In order to understand the rewards, an overview of what it is you are investing in would be necessary. The technology itself is Combined Heat and Power or sometimes referred to as CHP or Cogeneration converts a single fuel into both electricity and heat in a single process at the point of use. An engine (normally gas fuelled) is coupled to an alternator to produce the electricity. Heat is produced by the engine and this is collected from oil, jacket water and exhaust gases by heat exchangers. Market Drivers/Value Propositions for CHP Clients: There are several evolving market drivers contributing to the growth of CHP such as increasing energy efficiency, local generation reducing utility transmission losses, reducing energy costs, supporting a company’s green image, managing and lowering existing power demands, and improving a facility’s electrical resilience against utility failures. Along with the market drivers, government policy statements, the value propositions that follow are significant with many benefits that are provided to the end user. Benefits: Cogeneration (CHP) is a well-proven technology, recognized worldwide as a cleaner and highly efficient alternative to traditional centralized generation. Its long-term future in the global energy markets is secured by CHP’s ability to provide a multitude of financial, operational, environmental and legislative benefits from a single unit of fuel. Case Study: Universities like Saint Peter’s University, a Jesuit facility) in Jersey City, NJ is a great example of how it was able to set the standard for superior green energy performance. The reduction of its carbon dioxide emissions by 6.4 million lbs. per year equates to a carbon saving benefit of a 615 acre pine forest. Along with the carbon reduction, the project was funded with $6.3 million with no upfront capital cost from the university and took the risk of the associated NJCEP incentives that were provided.
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