NAICS 221118 Quarterly Industry Report
Other Electric Power Generation
Comprehensive industry research for valuation professionals, business owners, buyers, and lenders
NAICS Code: 221118Sector: Utilities (22)Updated: Q1 2026
About This Report
This industry profile for Other Electric Power Generation (NAICS 221118) draws on data from the Bureau of Labor Statistics[6], U.S. Census Bureau, and SBA size standards database[7]. Published by Fair Market Value and updated quarterly, it provides valuation professionals, emerging energy analysts, and business brokers with current market data. The editorial analysis reflects the independent assessment of FairMarketValue.com's research team, with all quantitative claims sourced to publicly verifiable databases.
Industry Snapshot
Key metrics for the other electric power generation industry.
Industry Definition & Overview
Other Electric Power Generation (NAICS 221118) encompasses establishments primarily engaged in operating electric power generation facilities not classified elsewhere, including tidal power, fuel cell, and other emerging generation technologies per the U.S. Census Bureau[5]. Generated electricity is delivered to bulk power transmission systems or distribution networks. This catch-all classification captures generation methods beyond the primary categories of hydroelectric, fossil fuel, nuclear, solar, wind, geothermal, and biomass.
About 84 businesses operate 126 establishments, employing roughly 446 workers and generating approximately $52.3 million in annual payroll per the Bureau of Labor Statistics[6]. This classification remains small relative to other generation categories, as most emerging technologies have not yet achieved commercial scale. Fuel cell systems represent the most commercially mature segment, with Bloom Energy and FuelCell Energy deploying stationary systems for distributed generation at corporate campuses, data centers, and industrial facilities.
Per the SBA Table of Size Standards[7], the size standard is 650 employees. Tidal and wave power projects remain in early demonstration stages in the U.S., with the Marine Energy Research Center and several pilot projects testing in-stream and oscillating water column technologies off the coasts of Maine, Oregon, and Hawaii. Hydrogen fuel cells convert chemical energy directly into electricity without combustion, producing only water and heat as byproducts. Battery storage systems paired with renewable generation may also appear in this classification when operated as standalone generation facilities. Federal research funding through the Department of Energy supports technology development for marine hydrokinetic and advanced fuel cell systems.
What's Included in This Industry
- Tidal power generation facilities
- Wave energy conversion systems
- Stationary fuel cell power generation
- Hydrogen fuel cell electricity production
- Marine hydrokinetic energy systems
- Experimental and pilot generation technologies
- Distributed fuel cell installations
- Combined fuel cell and heat recovery
- Ocean thermal energy conversion
- Grid interconnection for emerging generation
NAICS Classification Hierarchy
| Level | Description | Code |
|---|---|---|
| Sector | Utilities | 22 |
| Subsector | Utilities | 221 |
| Industry Group | Electric Power Generation, Transmission and Distribution | 2211 |
| NAICS Industry | Electric Power Generation | 22111 |
| National Industry | Other Electric Power Generation | 221118 |
Related NAICS Codes
| Code | Description | Relationship |
|---|---|---|
| 221121 | Electric Bulk Power Transmission and Control | Electric Bulk Power Transmission carries electricity from generation facilities to load centers, though most emerging generation technologies interconnect at distribution voltage due to small project sizes |
| 221122 | Electric Power Distribution | Electric Power Distribution receives output from distributed fuel cell and small-scale generation systems that interconnect directly to local networks rather than bulk transmission systems |
| 221111 | Hydroelectric Power Generation | Hydroelectric Power Generation taps water energy through established turbine technology, while tidal and wave generators represent emerging marine approaches to converting water movement into electricity |
| 221114 | Solar Electric Power Generation | Solar Electric Power Generation competes with fuel cell and emerging technologies for distributed generation installations at commercial and industrial sites seeking on-site clean electricity |
| 335311 | Power, Distribution, and Specialty Transformer Manufacturing | Power, Distribution, and Specialty Transformer Manufacturing produces electrical conversion equipment used in fuel cell and emerging generation systems that must condition output for grid interconnection |
| 541690 | Other Scientific and Technical Consulting Services | Other Scientific and Technical Consulting provides feasibility studies, technology assessment, and regulatory support for emerging generation projects seeking permits and grid interconnection agreements |
Geographic Concentration
Top states by share of national establishments.
| # | State | % Est. | Total Est. |
|---|---|---|---|
| 1 | California | 18.5% | 24 |
| 2 | Texas | 13.1% | 17 |
| 3 | Florida | 9.2% | 12 |
| 4 | Michigan | 8.5% | 11 |
| 5 | New York | 6.2% | 8 |
| 6 | Illinois | 6.2% | 8 |
| 7 | Ohio | 3.9% | 5 |
| 8 | Iowa | 3.9% | 5 |
| 9 | Maryland | 3.9% | 5 |
| 10 | Alabama | 3.1% | 4 |
% Of Establishments
0%
18%
Source: County Business Patterns, U.S. Census Bureau[3]
SBA Lending Summary
72
Total SBA Loans
$53.7M
Total Loan Volume
$746K
Average Loan Size
11 yrs
Average Loan Term
10.55%
Average Interest Rate
840
Jobs Supported
Source: SBA 7(a) Program Data, U.S. Small Business Administration — FY 2025[4]
Key Insight: Per the SBA Table of Size Standards[7], Other Electric Power Generation (NAICS 221118) has a size standard of 650 employees for federal contracting purposes. SBA 7(a) loans[8] support fuel cell installations, pilot project equipment, and working capital for qualifying firms. Small technology companies developing marine energy and advanced fuel cell systems represent the primary small business applicant profile. Additionally, 504/CDC loans[9] provide long-term, fixed-rate financing for major fixed assets such as real estate and equipment.
Top SBA Lenders
| # | Lender | Loans | Volume | Avg Loan |
|---|---|---|---|---|
| 1 | Newtek Bank, National Association | 8 | $40.0M | $5.0M |
| 2 | Northeast Bank | 32 | $5.7M | $178K |
| 3 | Readycap Lending, LLC | 8 | $4.0M | $500K |
| 4 | Legacy Bank | 8 | $2.7M | $335K |
| 5 | The Huntington National Bank | 8 | $1.2M | $150K |
Frequently Asked Questions
Common questions about this industry.
What types of businesses operate other electric power generation?
Operators include fuel cell companies like Bloom Energy and FuelCell Energy, marine energy developers, and pilot project operators. About 84 businesses employ roughly 446 workers per the U.S. Census Bureau[5]. Most firms focus on distributed fuel cell installations or emerging marine energy technology.
How large is the other power generation sector?
This classification remains small at about 126 establishments with $52.3 million in annual payroll per the Bureau of Labor Statistics[6]. Most emerging technologies have not yet achieved commercial scale comparable to solar, wind, or conventional generation.
What is the SBA size standard for Other Power Generation?
Per the SBA Table of Size Standards[7], NAICS 221118 has a size standard of 650 employees. This determines eligibility for SBA loans, federal contracting set-asides, and small business programs.
What NAICS codes are related to other power generation?
Related codes include NAICS 221121 (Transmission), NAICS 221122 (Distribution), NAICS 221111 (Hydroelectric), NAICS 221114 (Solar), and NAICS 335311 (Transformer Manufacturing) per the U.S. Census Bureau[5].
What is fuel cell power generation?
Fuel cells convert hydrogen or natural gas directly into electricity through electrochemical reactions without combustion, producing only water and heat as byproducts. Bloom Energy and FuelCell Energy deploy commercial systems at corporate campuses and data centers.
What activities are included in NAICS 221118?
Core activities include tidal power, wave energy, stationary fuel cells, hydrogen electricity production, marine hydrokinetic systems, pilot generation projects, distributed fuel cell operation, and ocean thermal conversion per the U.S. Census Bureau[5].
Can other power generation businesses get SBA loans?
Yes, firms meeting the 650-employee standard qualify for SBA 7(a) loans[8] covering fuel cell equipment, pilot project costs, and working capital. Technology development companies and distributed generation installers are common applicants.
What is the status of tidal power in the U.S.?
Tidal and wave power remain in early demonstration stages, with pilot projects testing off Maine, Oregon, and Hawaii per the Bureau of Labor Statistics[6]. Federal research funding through the Department of Energy supports marine hydrokinetic technology development.
Sources & References
Government datasets and editorial sources used in this report.
- [1]U.S. Bureau of Labor Statistics, Quarterly Census of Employment and Wages bls.gov
- [2]U.S. Census Bureau, Economic Census census.gov
- [3]U.S. Census Bureau, County Business Patterns census.gov
- [4]U.S. Small Business Administration, SBA 7(a) Loan Program Data data.sba.gov
- [5]U.S. Census Bureau census.gov
- [6]Bureau of Labor Statistics bls.gov
- [7]SBA Table of Size Standards sba.gov
- [8]SBA 7(a) loans sba.gov
- [9]504/CDC loans sba.gov
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