U.S. Microturbine CHP Market Share Grows to a Record 25%
August 29 2018 - 8:30AM
Capstone Turbine Corporation (www.capstoneturbine.com) (Nasdaq:
CPST), the world’s leading clean technology manufacturer of
microturbine energy systems, announced today that a recent ICF Inc.
combined heat and power (CHP) study leveraging the U.S. Department
of Energy CHP Installation Database
(https://doe.icfwebservices.com/chpdb/) indicates that the
microturbine market share of U.S. CHP installations in the 100 kW
to 5 MW has reached a record 25%.
ICF estimates that between 2008 to 2013, microturbines had
approximately a 17% market share and that more recently, from 2013
to 2017, the microturbine market share increased to a record 25% of
installations larger than 100 kW and smaller than 5 MW in the
United States. The majority of the microturbine market share
improvement was the result of gains from traditional reciprocating
engine competitors that have historically dominated the global CHP
market.
“We continue to successfully diversify our market verticals by
concentrating on CHP and CCHP as energy efficiency is a growth
market for us globally,” said Darren Jamison, Capstone’s President
and Chief Executive Officer.
In addition, ICF forecasts that U.S. CHP annual capacity
installations will grow from approximately 600 MW in 2017 to as
high as 1,400 MW in 2026 and that the growth in overall CHP markets
will be driven by smaller commercial applications that typically
are well suited for microturbine technology.
“There are a variety of drivers for the forecasted growth in the
CHP market, including the need for resilient on-site power,
advances in packaged CHP technologies, growth in utility CHP
programs, and the ability of CHP to balance intermittent renewable
generation in microgrids,” said Anne Hampson, a Principal at
ICF.
As the use of decentralized energy systems continues to gain
momentum, more U.S. businesses are looking to take control of their
energy costs. The benefits of moving away from the local utility
and generating power onsite are clear as Capstone end-use customers
saved an estimated $194 million in annual energy costs and 314,000
tons of carbon in fiscal 2018. These carbon savings would compare
to the annual equivalent carbon reduction from approximately
369,800 acres of forest or removing over 67,000 passenger vehicles
from the road for a year.
“Capstone’s high efficiency combined heat and power end-use
customers had the largest energy savings on a per project basis
compared to the oil and gas end-users where their primary focus has
historically been more about energy reliability and resiliency,”
added Mr. Jamison.
“Capstone’s new Signature Series product line-up is making
significant progress in the CHP market, which is specifically
focused on growing the energy efficiency market vertical and
continuing to diversify Capstone’s business,” said Jim Crouse,
Capstone’s Executive Vice President of Sales and Marketing.
About Capstone Turbine Corporation
Capstone Turbine Corporation (www.capstoneturbine.com) (Nasdaq:
CPST) is the world’s leading producer of low-emission microturbine
systems and was the first to market commercially viable
microturbine energy products. Capstone has shipped over 9,000
Capstone Microturbine systems to customers worldwide. These
award-winning systems have logged millions of documented runtime
operating hours. Capstone is a member of the U.S.
Environmental Protection Agency’s Combined Heat and Power
Partnership, which is committed to improving the efficiency of the
nation’s energy infrastructure and reducing emissions of pollutants
and greenhouse gases. A DQS-Certified ISO 9001:2015 and ISO
14001:2015 certified company, Capstone is headquartered in
the Los Angeles area with sales and/or service centers in
the United States, Latin America, Europe, Middle East and
Asia.
For more information about the company, please visit
www.capstoneturbine.com. Follow Capstone Turbine on Twitter,
LinkedIn and YouTube.
About ICF
ICF (NASDAQ:ICFI) is a global consulting services company with
over 5,500 specialized experts, but they are not your typical
consultants. At ICF, business analysts and policy specialists work
together with digital strategists, data scientists and creatives.
ICF combines unmatched industry expertise with cutting-edge
engagement capabilities to help organizations solve their most
complex challenges. Since 1969, public and private sector clients
have worked with ICF to navigate change and shape the future. Learn
more at icf.com.
Forward-Looking Statements
This press release contains “forward-looking statements,” as
that term is used in the federal securities laws. Forward-looking
statements may be identified by words such as “expects,” “believe”,
“objective,” “intend,” “targeted,” “plan” and similar phrases.
These forward-looking statements are subject to numerous
assumptions, risks and uncertainties described in Capstone's
filings with the Securities and Exchange Commission that may cause
Capstone’s actual results to be materially different from any
future results expressed or implied in such statements. Capstone
cautions readers not to place undue reliance on these
forward-looking statements, which speak only as of the date of this
release. Capstone undertakes no obligation, and specifically
disclaims any obligation, to release any revisions to any
forward-looking statements to reflect events or circumstances after
the date of this release or to reflect the occurrence of
unanticipated events.
“Capstone” and “Capstone Microturbine” are registered trademarks
of Capstone Turbine Corporation. All other trademarks
mentioned are the property of their respective owners.
CONTACT:Capstone Turbine CorporationInvestor and investment
media inquiries:818-407-3628ir@capstoneturbine.com
Integra Investor RelationsShawn M.
Severson415-226-7747cpst@integra-ir.com
A photo accompanying this announcement is available
athttp://www.globenewswire.com/NewsRoom/AttachmentNg/1efbf321-62f9-42cf-899f-bac1d480ef33
The photo is also available at Newscom, www.newscom.com, and via
AP PhotoExpress.
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