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

RELEASE DATE
30-Jun-2023
REGION
North America
Research Code: K895-01-00-00-00
SKU: EG02328-NA-MO_27784
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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

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
More Information
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