Low prices helped establish natural gas as a leading fuel for power generation in the U.S. Furthermore, natural gas has been heavily-referred to as a “bridge fuel” for the electric sector’s transition toward greater amounts of renewable energy, in part due to gas turbines’ (GTs) ability to rapidly provide cost-effective backup power to help balance the intermittency of renewables. Many organizations and analysts expect natural gas to play a role in the energy transition for years to come due to its relatively low cost, abundance, and use in high efficiency GT plants. However, as the transition unfolds, economic and operational prospects for individual gas-fired power plants will vary widely, depending upon their location and the prevailing market and policy environment.
This report provides an in-depth study of the GT market and highlights major technological/hardware considerations that could drive future GT cost, performance, and operations.