A selective catalytic reduction system and method for reducing nitrogen oxide (NOx) emissions comprising a boiler producing flue gas emissions, a particulate control device receiving flue gas emissions from the boiler, a selective catalytic reduction unit (SCR) receiving flue gas emissions from the particulate control device and reducing nitrogen oxide (NOx) emissions, and a heat exchanger located downstream of the selective catalytic reduction unit (SCR) for removing heat from the flue gas for preheating at least one of boiler feed water and combustion air for the boiler.