Natural Gas Vehicle Fuel Stations Growing
With the cost of natural gas reaching historic lows in many regions, interest in natural gas vehicles (NGVs) is growing. The growth of the NGV market is inherently tied to the availability of the fuel, whether that fuel is compressed natural gas (CNG) or liquefied natural gas (LNG) in heavier duty applications.
As a result, the market for natural gas refueling infrastructure is experiencing robust growth, as companies look to capitalize on opportunities presented by potential NGV demand. According to a new research brief from Navigant Research, the number of natural gas refueling stations installed worldwide will reach nearly 30,000 by 2020.
North America will represent 40 percent of the global NGV refueling stations installed between 2013 and 2015, the study concludes.
“Creating a robust infrastructure to refuel NGVs is challenging on several fronts,” says Dave Hurst, principal research analyst with Navigant Research. “The cost of NGV refueling infrastructure is higher relative to other fuels, and any new pipelines needed for supplying CNG from the gas grid can make the viability of a new station challenging. Nevertheless, the lower cost of both CNG and LNG relative to gasoline and diesel is expected to increase demand for both vehicles and new refueling stations.”
Many of the competitors in the infrastructure market are focused on developing CNG refueling infrastructure within cities and suburban areas. CNG is largely used to serve light and medium-duty vehicles that are likely to travel within a metro area or from one metro area to another without refueling. This infrastructure growth will help drive demand for NGVs within metropolitan areas, according to the report. To connect different metro areas over longer distances, LNG is marketed as a replacement for diesel fuel, for use in fleet vehicles that travel extended distances.
The report, “Natural Gas Vehicle Refueling Infrastructure”, examines the market for CNG and LNG refueling station equipment and the drivers for the development of the NGV infrastructure market. The report includes updates on the current market and the cost drivers for the facilities, an assessment of the infrastructure supply chain, and profiles of key players. The report also provides conclusions and recommendations for CNG and LNG refueling infrastructure market players. An Executive Summary of the report is available for free download on the Navigant Research website.
Navigant Research, the dedicated research arm of Navigant, provides market research and benchmarking services for rapidly changing and often highly regulated industries. In the energy sector, Navigant Research focuses on in-depth analysis and reporting about global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Smart Energy, Smart Utilities, Smart Transportation, Smart Industry, and Smart Buildings sectors.
Hydrostor receives $4m funding for A-CAES facility in Canada
Hydrostor has received $4m funding to develop a 300-500MW Advanced Compressed Air Energy Storage (A-CAES) facility in Canada.
The funding will be used to complete essential engineering and planning, and enable Hydrostor to plan construction.
The project will be modeled on Hydrostor’s commercially operating Goderich storage facility, providing up to 12 hours of energy storage.
Hydrostor’s A-CAES system supports Canada’s green economic transition by designing, building, and operating emissions-free energy storage facilities, and employing people, suppliers, and technologies from the oil and gas sector.
The Honorable Seamus O’Regan, Jr. Minister of Natural Resources, said: “Investing in clean technology will lower emissions and increase our competitiveness. This is how we get to net zero by 2050.”
A-CAES has the potential to lower greenhouse gas emissions by enabling the transition to a cleaner and more flexible electricity grid. Specifically, the low-impact and cost-effective technology will reduce the use of fossil fuels and will provide reliable and bankable energy storage solutions for utilities and regulators, while integrating renewable energy for sustainable growth.
Curtis VanWalleghem, Hydrostor’s Chief Executive Officer, said: “We are grateful for the federal government’s support of our long duration energy storage solution that is critical to enabling the clean energy transition. This made-in-Canada solution, with the support of NRCan and Sustainable Development Technology Canada, is ready to be widely deployed within Canada and globally to lower electricity rates and decarbonize the electricity sector."
The Rosamond A-CAES 500MW Project is under advanced development and targeting a 2024 launch. It is designed to turn California’s growing solar and wind resources into on-demand peak capacity while allowing for closure of fossil fuel generating stations.
Hydrostor closed US$37 million (C$49 million) in growth financing in September 2019.