Adoption Of Advanced Ultra-Supercritical (AUSC) Technology In The Power Generation Market
Thermal power generation companies are investing in Advanced Ultra-Supercritical (AUSC) pulverized coal technology to increase plant operating efficiencies and reduce carbon emissions. AUSC operates with temperatures in the range of about 700-750°C. This technology also operates with efficiency greater than 50% and significantly reduces carbon emissions at the source. Many government-owned and private power producers are investing in these technologies to enhance power plants’ efficiencies and reduce carbon emissions. In June 2017, the Indian government introduced a national mission on advanced ultra-supercritical technologies for cleaner coal utilization. The estimated carbon dioxide emission rate from coal-based power plants was about 40%. With the implementation of AUSC technology, the government has expected to reduce greenhouse gas emissions by thermal power plants by 20%. Furthermore, prominent companies in the market are also working towards providing AUSC solutions. For example, in 2016, GE introduced the first-in-market ‘steamH’, a technology that combines steam plant technology operating at advanced ultra-supercritical conditions with digital power plant software.
Another trend in the power generation market to lower carbon emissions is the increased adoption of nuclear power generation. Global issues such as energy security, climate change and electricity demand growth have led to an increase in the use of nuclear power for power generation. Nuclear technology provides large amounts of power with significantly low carbon emissions.
The global power generation market, estimated at $1,386.9 billion in 2019, is expected to grow to $1,537.5 billion in 2022 at an annual growth rate of around 3.5%. Adoption of advanced technologies in the power generation industry and the power distribution industry support its market growth.
Governments globally are increasingly supporting the adoption of carbon capture and storage (CCS) technology across industries, including the power generation market. CCS withholds up to 90% of the carbon dioxide emissions produced from burning fossil fuels from entering the atmosphere. In CCS, carbon dioxide is first isolated from gases produced in power generation. It is then transported to be stored safely. The ADM llinois Industrial Carbon Capture & Storage Project, for instance, isolates carbon dioxide from an ethanol manufacturing facility and stores it in a nearby deep saline formation, storing an estimated 1.1 million tons of carbon dioxide a year.
Similarly, solar tracking sensors are helping in maximizing the solar energy captured by tracking the sun’s motion. Other technologies such as hybrid wind-hydro turbines are improving the operational efficiencies of wind power generation plants. These advances are helping companies to reduce their operational costs, and supporting the growth of the power generation market.