The inflation reduction act (IRA) has provisions that offer very strong incentives for implementing combined heat and power (CHP) as well as waste heat to power (WHP) systems. These incentives depend on various factors associated with the project, and are designed to nudge projects in directions that support union labor and apprenticeships, brownfield sites, sites that have seen hardship due to fossil fueled industry curtailments, and similar situations. Overall, the IRA provisions have the potential to reduce project capital cost by 30-50% which could double the ROI, NPV or simple payback.
These Combined Heat and Power Systems (CHP) and Waste Heat to Power (WHP) systems capture wasted thermal energy from industrial processes and convert it into usable electrical energy via steam and gas turbines. Because these systems are far more efficient than buying power from the grid, the US EPA and DOE have recognized and endorsed these systems as being strong contributors to achieving zero emissions goals for the industrial sector.
Benefits of Waste Heat Power Systems
Captured and reused waste heat offers a cost-effective substitute for expensive fuels or electricity. Many technologies are available for transferring waste heat to usable energy for a process. Waste heat power systems provide direct and indirect benefits including:
- Improved process efficiency, reduced fuel costs, and decreased energy consumption
- Lower levels of pollution, less equipment required, improved plant reliability, increased overall plant throughput
- Less fuel used to produce a given energy output
- Transmission and distribution losses when electricity travels over power lines are avoided
- Impact of outages when the power grid goes down is minimized
Lathrop Trotter has extensive experience in developing heat recovery solutions, including HRSG, stack economizers, and waste heat boiler, gas turbines and steam turbines.
Waste Heat Power Systems Featuring Superior Boiler Technology
Lathrop Trotter partners with Superior Boiler to offer industry-leading WHP system options. Superior heat recovery boilers are available in three basic configurations to offer flexibility in designing a system that is engineered to meet the precise requirements of the specific application.
- Custom design engineered for specific solutions
- Pressures from 15-300 psi steam and 30-160 psi hot water
- Dual chamber design or supplemental firing available
- Temperatures to 2,400° F
Through our partnership with Superior Boiler, and other key suppliers, we also offer our customers the best HRSG boiler technology engineered for optimal efficiency, excellent performance, and solid reliability. Heat recovery steam generators (HRSG) and stack economizers can be used with industrial processes such as ovens, dryers, oxidizers, and large capacity boilers. Expense and fuel consumption can be dramatically reduced by recovering heat that would otherwise be lost.
Lathrop Trotter Helps You Achieve Sustainable, Zero Emission Energy Goals
The IRA incentives are available for a limited time, so taking an early look is important. Lathrop Trotter is here to assist you in evaluating whether or not CHP and WHP are right for your operations. Our team will assist by helping clients and engineers evaluate the potential of their site for CHP and WHP. Applying the benefits of our industry relationships, we can help with every aspect of the project, from feasibility through construction and commissioning. At the same time, we assist clients in achieving:
- Sustainability: CHP and WHP reduces overall emissions.
- Plant Reliability: Redundancy and Efficiency improve security on heating and power.
- Financial Savings: Reduced energy expenditure drives most CHP and WHP projects over the finish line.
The WHP system you implement with Lathrop Trotter could qualify as a sustainability project for these recently passed tax incentives. Since tax incentives are rarely offered at this scale, now is the time to act. Projects must be started by the end of 2024 to qualify for 30-50% project funding. Non Taxable entities are eligible as well.
Contact us today to learn more!
513-833-5800 | ed.stoermer@lathroptrotter.com | linkedin.com/in/edstoermer/
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