Report Code: A11703 | Nov 2023 | Pages: NA | ||
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Thermal Power Market
Request Now !Thermal power is the rate at which fuel is converted into heat in most energy systems, such as a gasoline engine. These heat engines generate heat to perform useful work. The heat input to a boiler in a power plant to generate electricity is commonly referred to as thermal power.
COVID-19 Impact analysis
Financing, policy uncertainty, and grid integration have already hampered the development of renewable energy technologies in several markets, and COVID-19 has added to the mix. The COVID-19 crisis, according to the IEA, has had a significant impact on the global renewable power capacity addition. Construction delays are a result of supply chain disruptions, primarily caused by China, lockdown measures in all major economies, social-distancing guidelines for workers, and the resulting financing challenges.
Top Impacting Factors
Decarbonisation of the energy sector and carbon emission reductions to limit global climate change are among the most hegemonic goals for governments, energy authorities, and utilities around the world. Among natural gas-fired power plants, combined-cycle plants are the most efficient ones. They are slightly less expensive to build than gas turbine cycle plants, but they can produce more energy by utilising the heat generated during the process. Solar and other renewable energy sources have not been able to provide electricity with storage or molten salt at affordable rates by 2020. Gas is expected to remain the preferred alternative until such technology becomes competitive. In the coming years, natural gas combined cycle plants are anticipated to dominate new electricity generation, particularly in countries like China and India.
Market Trends
Key Benefits of the Report
Thermal Power Market Report Highlights
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