Dive Brief:

• According to a new report, the global biomass power installed capacity was 72,571.9 MW in 2013 and should grow to 122,331.6 MW by 2022.
• The global biomass power installed capacity will expand at a CAGR of 6.2% between 2014 and 2022, according to the report by Transparency Market Research.
• Worldwide, biomass power generation was 413,778.1 million KWh in 2013, and is expected to grow at a rate of 6.8% between 2014 and 2022, reaching 738,350.3 million KWh by 2022.

Dive Insight:

Biomass is the energy equivalent of squaw wood – easy to reach fuel that is a ready energy source. Such waste from wood manufacturing plants, farming, and other sources is supported somewhat by the U.S. government, and globally, more firms are focusing on this plentiful and renewable energy source.