simultaneously and efficiently produces useful thermal energy and electricity; and

recovers not less than 60 percent of the energy value in the fuel (on a higher-heating-value basis) in the form of useful thermal energy and electricity.

in the form of direct heat, steam, hot water, or other thermal form that is used in production and beneficial measures for heating, cooling, humidity control, process use, or other valid thermal end-use energy requirements; and

for which fuel or electricity would otherwise be consumed.

exhaust heat or flared gas from any industrial process;

waste gas or industrial tail gas that would otherwise be flared, incinerated, or vented;

a pressure drop in any gas, excluding any pressure drop to a condenser that subsequently vents the resulting heat; and

such other forms of waste energy as the Administrator may determine.