The power industry is a provider of essential services, playing a crucial part in economic and social development. Market forces such as disruptive technologies, regulatory norms, changing consumer behavior, competitive forces (new entrants), aging asset performance with an increased need of reliability, decarbonization efforts to tackle climate change, increased renewable power generation, and growth of distributed energy resources (DER) are affecting the global power utility landscape. The power sector is gradually undergoing a transformation driven by these factors. The electricity grid is now getting smarter, power generation is becoming cleaner, and greater consumer choice and control is being observed. The report discusses some present state of the power industry and the drivers for its transformation.
- The report contains a detailed analysis of the major trends witnessed in the power industry and key drivers for its transformation.
- These include: changing power generation fuel mix, renewable energy growth, coal-based capacity decommissioning being undertaken by various utilities, nuclear power installations expected to witness an increasing trend during the period 2017-2022, Enhanced grid resiliency takes form, commitments made at COP21 to enhance smart grid outlook, cyber-security is increasingly becoming important in a connected and digitized grid, deal activities in the power sector on the rise, move toward decarbonization has slowed down the growth in global carbon emissions, though not substantially, distributed energy resources proliferation tweaking the electricity business model, energy storage is developing into a feasible grid-scale resource, and increasing demand for vehicle electrification.
Reasons To Buy
- To understand the state of the power industry and key drivers for its transformation.