Biomass power generation will reach $11.5 billion in yearly revenue worldwide by 2020, and could potentially brings online hundreds of megawatts per installation, according to a report from Navigant Research.
The report, “Market Data: Biomass Power Generation,” also says biopower can help optimize other industrial processes, such as combined heat and power, co-firing with coal and onsite generation for industrial facilities.
The biomass market’s expansion will be largely determined by government policies. If mandates remain in place through 2020, they could help the market expand.
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