As the United States continues to pursue sustainable and long-term renewable energy solutions, the Biogas industry remains a clear opportunity for transformation within the wider sector.
With a focus on circular economy principles, waste-to-energy initiatives and decarbonisation, the industry is poised for significant developments in 2024. With this year also being an election year, it’s no surprise that the energy sector may see larger moves in terms of legislation and changes to policy.
With that in mind, let’s delve into key trends and expectations that will shape the US biogas landscape in 2024.
1. Accelerated Growth of Biogas Projects Within the Market
According to the latest Biogas Plant Market Report, the market will continue to grow rapidly in 2024. During 2023, the value of the market rose to $3.81 billion and forecasts suggest it’ll rise even further this year to $4.21 billion – accelerated by urban waste management initiatives and ‘pioneering biogas applications’.
Future growth will likely be driven by a wider awareness of the environmental benefits Biogas can provide, pushing businesses, municipalities and farms to invest in anaerobic digestion infrastructure.
In terms of growth potential, we’ve already seen evidence of this over the last decade. The volume of facilities across the US has increased to 2,400 as of 2023 and there’s incredible potential for expansion – the American Biogas Council has identified 15,000+ sites for development.
Likewise, it’s expected we’ll see existing biogas facilities investing in their technology, vastly increasing their output and leading to wider adoption.
2. Advancement in Biogas Upgrading
The advancement of biogas technology will play a crucial role in 2024. We’ll likely see progress in making the purification process more efficient, which then creates a more cost-effective and scalable environment.
According to Markets Report World, innovation will occur in membrane separation and pressure swing absorption processes, contributing to the quality of the biogas being produced and introduced into the natural gas grid.
The same report highlights that globally, the ‘Biogas Upgrading Systems’ market is expected to grow from $207.1 million to $253.1 million by 2029, with a compound annual growth rate (CAGR) of 3.4%.
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3. Industry Collaboration and Partnerships
Collaboration will be a key theme in the biogas industry in 2024. Anticipate increased collaboration between municipalities, private enterprises, and technology providers to streamline project development, share expertise, and enhance the overall efficiency of the biogas value chain.
Partnerships may extend to involve renewable energy companies, waste management firms, and agricultural stakeholders, fostering a holistic approach to sustainable biogas production.
4. Focus on Circular Economy Principles
2024 will see a heightened focus on circular economy principles within the biogas industry. As more stakeholders recognize the potential of biogas in closing resource loops, expect projects that integrate seamlessly with circular economy practices.
Biogas facilities will play a dual role as waste management solutions, diverting organic waste from landfills, and energy generators, producing biogas for various applications.
5. Policy Support and Regulatory Developments
Government policies and regulatory frameworks will continue to evolve to support the growth of the biogas industry. Anticipate new incentives, grants, and mandates at the federal, state, and local levels aimed at promoting biogas projects. These measures will provide the necessary impetus for stakeholders to invest in and expand their involvement in the biogas sector.
As we approach 2024, the U.S. biogas industry stands at the forefront of sustainable energy solutions. With a confluence of technological innovation, supportive policies, and a shared commitment to environmental stewardship, the year promises to be a defining chapter in the journey towards a greener and more circular economy. Stakeholders in the biogas sector, from project developers to technology providers, are set to navigate these trends, contributing to the realization of a more sustainable and resilient energy landscape in the United States.