BOULDER, USA: Biomass, already a large percentage of total renewable energy sources, is poised for continued growth in the years to come within three key sectors: biopower, biofuels, and bioproducts. Significant investments continue to be made in biomass research and development, and the pace of commercializing new technologies will increase during the next decade.
According to a new report from Pike Research, the market value of electricity generated from biomass in the United States will increase steadily to $53 billion by 2020, up from approximately $45 billion in 2010.
“Biomass will continue to be the leading source of renewable energy,” says managing director Clint Wheelock. “While it does not have the celebrity appeal of solar, wind or other emerging technologies, biomass is an affordable and reliable form of power generation. In addition, we expect continued growth in the adoption of biofuels during the next decade, as well as a proliferation of bioproducts such as plastics and chemicals.”
Wheelock adds that many different feedstocks can be classified as “biomass” including corn and grains, plants and forest resources, construction/industry waste, agricultural and food industry wastes, terrestrial and aquatic energy crops, municipal waste and manure. Applications for biomass range widely, from power generation to heating, transportation fuels, chemicals, and plastics.
The development of the biomass industry is in large part driven by government policies and mandates and, while world governments are likely to back away from some of the aggressive targets set a few years ago, Pike Research anticipates that biomass will continue to be a significant focus for energy policymakers.