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Worldwide Power Electronics For Distributed & Cogeneration
Darnell Group, Jan 2006
Distributed & Cogeneration (DCG) is gaining momentum and becoming an attractive energy option for the new millennium. Demand for power reliability combined with increasing power shortages, inadequate power transmission and distribution capacity, utility restructuring, volatile electricity prices, technology advancements and public environmental policies have opened the market for distributed and cogeneration projects and their accompanying power electronics components. The projected worldwide dollar market for DCG power electronics is expected to increase from $3.7 billion in 2006 to $7.6 billion in 2011, a compounded average annual growth rate of 15.4%. The market dynamics for these projects differ from region to region. In North America, DCG helps to relieve the pressure from volatile power prices and ensure power reliability. In Europe, DCG is being promoted because it provides an environment-friendly energy source, which helps reduce greenhouse gas emissions. In Asia, DCG contributes to the alleviation of power shortages and helps both mature and developing nations manage their energy needs. All these elements have contributed to a strong market for alternative power generation technologies like gensets, small-scale gas turbines, microturbines, photovoltaics, variable speed generators, wind turbines and fuel cells.
The power electronics market potential for these projects varies depending on which DCG technology they serve. Wind turbines are the biggest market for power electronics, while photovoltaics, microturbines and fuel cells will have higher growth rates. The gas turbine and gensets markets will benefit from the growing interest in the Combined Heat and Power (CHP) application. This edition will also look at the market for variable speed generators.
In addition to the macro-economic trends to be discussed, there are the particular dynamics for DCG power electronics. In traditional DCG systems, such as gas turbines and gensets, power electronics only account for a small percentage of the total cost. In new DCG technologies, including fuel cells, photovoltaics, microturbines and wind turbines, power electronics account for a much larger percentage of the total system cost. Moreover, technology development in power electronics plays a very important role in improving various DCG system performances, which will further drive the DCG penetration into the electricity market.
A growing percentage of DCG systems are using power electronics to improve power efficiency. Just a few years ago, only about 30% of wind turbines used power electronics. This percentage has increased to over 80% in recently installed wind turbines. Genset developers are exploring the use of variable speed operation to increase system efficiency. The impact from increasing demand for grid interconnection can be seen in the PV inverter market. PV inverters have evolved from modified sine wave to true sine wave, from stand-alone to grid-intertie. A multifunction inverter even combines battery storage with grid-tie function to ensure power reliability. Static transfer switches using thyristors reduce the sensing-and-switching time to less than 4 milliseconds, more than six times faster than electromechanical devices. Electronic meters are being developed to replace electromechanical meters.
The on-going development of interconnection standards and regulations will present both market opportunities and technology challenges for the power electronics industry. Future research and development efforts will need to focus on improving efficiency and reliability, communication and interface, thermal management, reduce parts and points of failure, packaging and bringing down cost.
In order to cope with these challenges, major players have been approaching the market aggressively. Some have expanded their market through merger and acquisition activities. Some have formed strategic alliances with business partners. Some divested to concentrate on their core business and target customers. New entrants are increasing the competitive landscape.
The purpose of this report is to analyze the diversity of factors driving the DCG power electronics market. Knowing where the opportunities are and when they will occur will help companies remain competitive in this growing marketplace.
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