December 22, 2009
Fuel cells offer a clean, efficient source of electricity that can be well-suited to a variety of residential, commercial, and industrial stationary applications. Ranging in capacity from 1 kilowatt (kW) to 10 megawatts (MW) or more, stationary fuel cells have a number of versatile applications that are increasingly gaining traction in various niche markets.
According to a recent report from Pike Research, while installed cost per kW has traditionally been a major challenge, the economics of fuel cells are improving each year, and the cleantech market intelligence firm forecasts that global revenues will more than double over the next few years, from $336 million in 2009 to $716 million in 2013.
“The fuel cell industry has been trapped in a ‘chicken and egg’ cycle in recent years,” says senior analyst David Link. “High costs have inhibited market demand, yet volume production was needed to reduce those costs.”
Link’s analysis indicates that this barrier is beginning to fall as fuel cells are adopted for a variety of niche applications including commercial combined heat and power (CHP), telecom and data center backup power, wastewater treatment, and others. Pike Research forecasts that the installed price for stationary fuel cells will have dropped by more than 50% over a period of six years, falling from $6,638 per kW in 2007 to $3,267 per kW in 2013.
Pike Research’s study, “Stationary Fuel Cells”, examines the market opportunity for residential, commercial, and industrial fuel cell applications. Technology and cost issues are examined in depth, as are a number of key industry players. Market forecasts include fuel cell capacity for large and small stationary applications, system revenues, and installed prices through 2013. An Executive Summary of the report is available for free download on the firm’s website.
Pike Research is a market research and consulting firm that provides in-depth analysis of global clean technology markets. The company’s research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Smart Energy, Clean Transportation, Clean Industry, Corporate Sustainability, and Building Efficiency sectors. For more information, visit www.pikeresearch.com or call +1.303.284.9609.