PENN VALLEY, PA — Renewable Natural Gas (RNG) industry, potentially the most influential energy sector since hydraulic fracturing, is poised for a monumental leap. Companies keen on carving out a niche in this burgeoning market should mark April 18 on their calendars.
The Hilton Garden Inn Southpointe, south of Pittsburgh, will host the Appalachian RNG Conference III – Spring 2024. Organized by the H2-CCS Network and Shale Directories, this all-day conference will see industry pundits divulge key insights into navigating the expanding RNG landscape.
Leading voices at the conference include Kenneth Thompson, Founder and President of Valtronics/Mustang Sampling; Dave Lindenmuth, Managing Director, Renewable Natural Gas Services; and Gus Simmons, Chief Innovation Officer and Director of Bioenergy Services for Cavanaugh & Associates.
The global RNG market, valued at roughly $8.1 billion in 2022, is projected to skyrocket to a staggering $215.4 billion by 2031, according to Business Research Insights. This represents a robust Compound Annual Growth Rate (CAGR) of 44%.
This extraordinary growth is largely attributed to ambitious renewable energy targets set by governments worldwide, which have kindled demand for innovative renewable energy sources like RNG. In addition, many governments, including the U.S. federal and state authorities, offer substantial incentives, including tax credits, grants, and subsidies, to bolster the production and utilization of RNG.
Technological advancements are also playing a pivotal role, making RNG production more efficient and cost-effective, thereby establishing RNG as a formidable rival to in-ground natural gas.
As Geoff Dietz, Director of Federal Government Affairs for the trade group Coalition for Renewable Natural Gas, recently noted, the U.S. currently boasts an operational RNG production capacity of approximately 115 billion cubic feet (Bcf) annually. An additional 55 to 60 Bcf of production is under construction, with around 115 Bcf per year in the planning stages.
Data from the Coalition reveals that as of mid-November 2023, there were 311 operational RNG facilities, another 176 under construction, and 313 facilities in the planning stage.
According to global market research firm Mobility Foresights, the RNG industry’s growth areas include expanding the feedstock base, developing new RNG applications, and penetrating new markets. By diversifying the feedstock base to include sources like household food waste, industrial wastewater, and landfill gas, the supply and affordability of RNG can be significantly boosted.
Moreover, RNG’s versatility in applications such as transportation, heating, and electricity generation is opening up new markets for the fuel. While the RNG market is still nascent, its potential for rapid growth in the coming years presents ample opportunities for new entrants.
With all the elements in place for RNG’s continued exponential growth, the Appalachian RNG Conference III – Spring 2024 on April 18, is an essential event for companies looking to capitalize on the RNG boom.
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