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North American Power & Energy Outlook—2023
North American Power & Energy Outlook—2023
Future Growth Potential Driven by the Inflation Reduction Act and Clean Energy Deployment
30-Jun-2023
North America
Market Outlook
Description
2023 is looking to be another critical year for the North American energy transition journey. The Inflation Reduction Act has unlocked unprecedented growth opportunities for the United States, but developers, regulators, and other stakeholders must work hard to implement clean energy initiatives while addressing supply chain challenges, inflation, power security, and reliability issues.
This outlook study covers the regional growth environment, as well as what Frost & Sullivan feels should be expected from the sector in 2023, based on important trends noticed in the industry over the last two years and expected to continue through 2030. The deliverable investigates the investment opportunities accessible to North American industry participants by the different power generation sources, highlights future growth opportunities, and the strategic imperatives market participants need to consider capitalizing on growth opportunities.
The outlook offers a comprehensive overview of top Power and Energy trends in NA, in 2023: the crucial stage in America's energy transition, IRA leading a broader renewable upsurge in solar energy use, the rise of off-shore wind power, substantial deployment of battery energy storage (BES), the political push for scaling up production of heat pumps, the hydrogen economy, and so on.
Author: Lucrecia Gomez
Table of Contents
The 2022 Power & Energy: Forecast vs. Actual
Top Predictions for 2023
Why is it Increasingly Difficult to Grow?
The Strategic Imperative 8™
The Impact of the Top 3 Strategic Imperatives on the Power & Energy Industry
Growth Opportunities Fuel the Growth Pipeline Engine™
Scope of Analysis
Scope of Analysis (continued)
North American Power & Energy Trends
North American Power & Energy Trends (continued)
Trend 1—The Industry Reaching a Crucial Stage in America’s Energy Transition
Trend 2—The Acceleration of IRA's Investment in Solar PV
Trend 3—The Takeoff of Offshore Wind Power in the United States
Trend 4—Substantial Deployments of Battery Energy Storage (BES)
Trend 5—Political Push to Scale Up Production of HPs
Trend 6—The Rise of the Hydrogen Economy
Trend 7—Advancement in Electrification
Trend 8—Renewable Natural Gas (RNG) and Deep Decarbonization
Trend 9—The Momentum of Carbon-capture System (CCS) Development
Trend 10—Virtual Power Plants (VPP) to Help Balance the Grid
Trend 11—Nuclear Growth Potential to Produce Hydrogen
Trend 12—US's Interconnection Systems Being at Risk
Annual Investment Forecast
Installed Capacity Forecast by Fuel Type and Country
Annual Capacity Forecast by Fuel Type
Annual Investment by Country
Investment and Capacity Addition Forecast—US
Electricity Generation by Region—US
Investment and Capacity Additions Forecast Analysis—US
Investment and Capacity Addition Forecast—Canada
Investment and Capacity Additions Forecast Analysis—Canada
Growth Opportunity 1: New Business Models for Utilities and VPP Aggregators
Growth Opportunity 1: New Business Models for Utilities and VPP Aggregators (continued)
Growth Opportunity 2: EaaS—A New Investment Opportunity
Growth Opportunity 2: EaaS—A New Investment Opportunity (continued)
Growth Opportunity 3: Solar PV Plants for Green Hydrogen Production
Growth Opportunity 3: Solar PV Plants for Green Hydrogen Production (continued)
Conclusions and Future Outlook
Your Next Steps
Why Frost, Why Now?
List of Exhibits
List of Exhibits (continued)
Legal Disclaimer
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Popular Topics
| Deliverable Type | Market Outlook |
|---|---|
| Author | Lucrecia Gomez |
| Industries | Energy |
| No Index | No |
| Is Prebook | No |
| Keyword 1 | us power market |
| Keyword 2 | north american power |
| Keyword 3 | energy industry |
| Podcast | No |
| WIP Number | K895-01-00-00-00 |