A recent report from GlobalData says that efficient fossil fuel technologies will help push the ongoing growth of the global thermal power market.
Generation is expected to reach 19,869.1 Terrawatt-hours by 2020 globally, as countries look to invest in improved fossil fuel power generation technologies that can generate more power and a higher capacity factor while impacting the environment as little as possible, according to Power Engineering.
Carbon capture and storage has been deemed one of the most efficient technologies developed for reducing carbon dioxide emissions while maintaining the use of fossil fuels. Combined heat and power also provides an efficient method to generating electricity and thermal energy from one fuel, according to the report.
The U.S. has already rolled out various act and policies, such as the Energy Improvement and Extension Act of 2008, the Clean Energy Standard Act of 2012 and the Energy Policy Act, which make the adoptions of CCS and CHP obligatory. Other countries such as India, China, the U.K. and Germany have also taken steps toward adopting these technologies.