New Market Research Reveals What Production and Use of Solar Fuels Could Look Like
FARMINGTON, Conn., March 5, 2013 /PRNewswire-iReach/ -- The sun delivers more energy to the earth in one hour than civilization currently uses from fossil fuels, nuclear power and all renewable energy sources combined in a year. This solar energy can be captured and stored directly in the chemical bonds of a material, or fuel, and then used when needed. These chemical fuels, in which energy from the sun has deliberately been stored, are called solar fuels.
A new report by Amadee & Company, "Solar fuels, artificial photosynthesis, hydrogen, fuel cells and the future of clean energy: Technologies, markets, competitors and opportunities - 2013-2023 analysis and forecasts" provides an in-depth look at solar fuel technologies including photovoltaic artificial photosynthesis, photoelectrochemical, photobiological and concentrated solar thermal. The report also examines hydrogen as the future of clean energy and the fuel cell technologies needed to convert chemical energy into electrical energy.
Company profiles are provided for the following: Air Liquide SA, Air Products & Chemicals, Inc., Ballard Power Systems Inc., Ceramic Fuel Cells Limited, FuelCell Energy, Inc., Hydrogenics Corporation, Linde AG, Praxair, Inc., Taiyo Nippon Sanso Corporation, and UTC Power, LLC/ ClearEdge Power.
Like batteries, fuel cells produce electrical energy through an electrochemical process. Unlike batteries, fuel cells are "conversion" devices that change some kind of chemical fuel into electricity. Like combustion engines, fuel cells "convert" fuel into energy, but in this case the energy is electricity, not kinetic (movement) or heat.
Fuel cells can't directly store electrical energy, but they may have a great deal of flexibility in fuels. Possible fuels include hydrocarbons like natural gas or alcohol, or even metals like aluminum. Many designs operate best on hydrogen gas; others can operate on utility-grade natural gas or propane.
BCC Research's "Fuel Cells for Residential, Commercial and Military Power" provides a unique analysis of the residential, commercial, and military fuel cell market and will be of interest to a variety of current and potential fuel cell users and integrators as well as competing battery, fuel cell and conventional power generation makers
According to "Fuel Cells Market (PEMFC, MCFC, PAFC, SOFC, DMFC & Others) - Global Industry Analysis, Size, Share, Trends, Analysis, Growth And Forecast, 2012 – 2018", a report by Transparency Market Research, the global fuel cells demand was worth USD 355.3 million in 2011 and is estimated to reach USD 910.3 million in 2018, growing at a CAGR of 15.0% from 2013 to 2018. Key participants in the fuel cells market include Fuel Cell Energy, Ballard, Clearedge, Toshiba, Panasonic, Plug Power Inc. and Hydrogenics Corporation.
Fuel cells are currently more dominant in the North America due to regulatory support and technological innovation push in recent times. U.S. is expected to emerge as one of the biggest markets for fuel cell vehicles by 2018. Asia-Pacific is the other major region where the fuel cells market is very strong with demand expected to grow at a CAGR of about 12% from 2013 to 2018. In Asia-Pacific, Japan and South Korea dominate the market revenue for fuel cells. Europe is expected to grow at the highest rate among these three major regions, driven primarily by regulatory policies pushing for sustainability and is expected to cover a substantial part of the market by 2018. With regional coverage, the study also provides comprehensive market data on key countries such as U.S., Canada, Japan, South Korea, Germany, UK, Norway, Sweden and Denmark.
Find more market research for the clean energy industry
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