7 Reasons
Why the Biomass Industry’s Future Looks Bright in 2013
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1. The next three decades will see a pronounced shift in the global power generation-fuel mix—a slowed or declining growth rate for coal (2.5%) and nuclear power (0.1 %), with an increase of nearly 6% for renewables.
SOURCE: International Renewable Energy Agency |
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2. The Navy has committed to replacing at least half its annual fuel, roughly 600 million barrels, with advanced biofuels by 2020.
SOURCE: U.S. Navy |
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3. Between 2010 and 2030, global biomass and waste power generation could grow from 62 to 270 gigawatts, with investments totaling between $21 billion and $35 billion.
SOURCE: International Renewable Energy Agency |
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4. 30 states and Washington, D.C. now have renewable portfolio standards, requiring power utilities to purchase a certain percent of renewable energy—including biomass and biogas—by a certain year.
SOURCE: U.S. Energy Information Administration |
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5. The U.S. military’s biofuel plan would generate at least $10 billion in economic activity and create more than 14,000 jobs by 2020
SOURCE: Environmental Entrepreneurs |
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6. The North American market for biogas production equipment was valued at $510 million in 2011 and is forecast to reach nearly $1.2 billion by 2016.
SOURCE: International Renewable Energy Agency |
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7. The global market for biogas plant equipment was worth $3 billion in 2010; by 2016, it is estimated to reach nearly $8.6 billion, a growth rate of 19.4 percent.
SOURCE: BBC Research |
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