Clean Coal Technology Market Estimated to Reach US$4.6 Billion By 2027

The energy never expected to hear the words ‘Clean Coal Technology’ together. After all, when we think of coal the images that come in our head is of a dark, toxic emissions, black smoke, and chronic health problems such as black lung disease. However, this is not the case today and all credit goes to the clean coal technology. Today’s clean coal technology represents numerous generations of technological advances, which has led to more proficient combustion of coal with reduced emissions of nitrogen oxide and sulfur dioxide. The goal of clean coal technology is reduce lessen the human and environmental impact of coal by decreasing pollutants and air emissions from coal burning power plants.

According to the Research Dive published report, the global clean technology market is anticipated to grow at a CAGR of 2.9% in the forecast period from 2019 to 2027. Furthermore, according to the NETL (National Energy Technology Laboratory), today’s coal burning power plants emit 90% less pollutants such as NOx, SO2, particulates, and mercury as compared to the traditional coal burning power plants. Similarly, the regulated emissions from coal-based electricity generation have also decreased overall by over 40% since as compared to the early days even though the use of coal has augmented the time period.

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How to Get Funded
Companies all across the globe are now expanding their clean coal technology goals owing to increasing interests in government-funded research and technological advances. These companies are including larger projects to tackle novel environmental issues. Listed below are some of the sources of funding that enables companies to research, advance, and commercialize novel technologies to reduce human & environmental impact and clean up coal emissions.

The CCPI (Clean Coal Power Initiative): Headed by the Department of Energy’s Fossil Energy (DEFE), the CCPI is a program provides co-funding on projects. This program focuses on finding ways to cut down on harmful pollutants that are being released in the air. The CCPI program also help companies with coal plants more efficiently to convert fuel to electricity. Numerous projects have been funded by the CCPI till 2019.

Private Investments: Private investors can be asked for help if the coal factories want to green as clean energy is a most popular sector in investments. Companies who are involved in doing research into clean coal technology can also obtain money from private investors. It is estimated that between 2015 and 2019, clean energy investments increased by 230%.
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State Funded Programs: For coal plants to clean-up their emissions, states can offer them tax incentives and funding. State funded programs receive funds and approval from the federal government for clean energy programs. For instance, the goal of Texas Clean Energy Project is to clean up fossil fuels in Texas and the project was launched in 2015.

United States Department of Agriculture (USDA): The USDA offers money for the refitting of coal factories with gear that brings it up to cypher with the Clean Air Act. They provide funding for factories to help certify that they are producing cleaner coal with reduced harmful emissions. Primarily, the USDA provides funding for rural plants.

Universities: Colleges fund students clean energy initiatives and research because universities are crafting the next generation of clean energy specialist and engineers. These programs help students to head start in the clean coal technology industry. The programs of universities are frequently partnered with the U.S. Department of Energy and larger laboratories.
New clean coal technology is helping change the perception related to coal as a fuel source as these technologies are constantly continuing to evolve. Coal has been thought as one of the grimiest fossil fuels for generations. However, various programs like the CCPI are trying to change the dynamics of coal energy and in the progression, demonstrate that coal can be used in a manner that minimizes its impact on human and environmental health. Clean energy businesses are growing and also the number of private investors who wish to get involved with the clean coal technology. Although coal may not be the best or the greenest choice for meeting our fuel needs, but it will continue to be one of the most affordable and abundant fossil fuels in the world. Thus, it is significant that these programs receive funding.

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This release was published on openPR.