According to a new report by UnivDatos Market Insights, Biomethane Market, is expected to reach USD 5,082.2 Million in 2030 by growing at a CAGR of 4.4%. Biomethane is a climate-friendly fuel because it has a low influence on global warming, as methane traps heat in the atmosphere 25 times more effectively than carbon dioxide. It also contributes to various countries clean energy objectives and helps diversify their gas supplies, reducing dependency on fossil fuels. Although the biomethane industry is currently very small-scale, there is growing interest in several countries, particularly because of its potential to use existing infrastructure to supply clean energy to a wide range of end users. Currently, biomethane accounts for approximately 0.1% of natural gas demand. However, there is a growing number of government measures to support the decarbonization of natural gas network supply and transportation.
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Rising Investments Towards Renewable Sources and Easy Implementation
Alongside widespread improvements in energy efficiency, there is also a step change in the pace at which renewable technologies are deployed. This is most visible in the power sector, where renewables provide two-thirds of the electricity supply worldwide by 2040 (up from one-quarter today). Of this, solar PV and wind power together provide 40%, with a further 25% from dispatchable renewables including hydro and bioenergy.
Biomethane can also be liquefied, creating a product known as liquefied biomethane (LBM). Two of the main advantages of LBM are that it can be transported relatively easily, and it can be dispensed to either LNG vehicles or CNG vehicles (the latter is made possible through a liquid-to-compressed natural gas [LCNG] refueling station equipment which creates CNG from LNG feedstock).
It’s easy to implement because it doesn’t require additional infrastructure or equipment. Biomethane is the same as natural gas, so storage and transportation can use almost all existing infrastructure with minimum long-term side effects.
These trends open up significant possibilities for biogas and biomethane. These gases can help to decarbonize parts of the energy system that low-carbon electricity cannot reach. By enhancing the flexible operation of power systems, they can facilitate the rise of wind and solar. By displacing the traditional use of biomass, they can provide clean cooking fuels as part of the drive for universal access to modern energy. As a local, sustainable source of power and heat, they offer communities and municipalities a way to meet clean energy commitments in tandem with renewable electricity.
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Conclusion
The production of biomethane is a promising source of renewable energy with significant potential for further growth. Biomethane is a type of renewable gas produced from biodegradable organic matter, such as agricultural and food waste, manure, and sewage sludge. It is similar in composition to natural gas and can be used in the same processes and applications, reducing dependence on fossil fuels and helping to mitigate the effects of climate change. The biomethane industry is currently small but is generating growing interest in several countries due to its potential as a renewable and clean energy source. It can be used as a fuel for natural gas vehicles, reducing air pollution and improving public health, and in combined heat and power plants to increase energy efficiency and reduce emissions. In conclusion, biomethane is an economical and potentially scalable renewable natural gas, making it a valuable ally for governments and communities aiming to reduce their carbon footprint.
