North American Power Market Growth Opportunities

North American Power Market Growth Opportunities

Acceleration of Renewable Energy (RE) Deployment, Disruptive Technologies, and the Growing Energy Diversification will Shape Growth Strategies

RELEASE DATE
18-Nov-2022
REGION
North America
Research Code: K78E-01-00-00-00
SKU: EG02280-NA-MT_27132
$2,450.00
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EG02280-NA-MT_27132
$2,450.00
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Description

As the North American power market evolves and competition intensifies, it is becoming increasingly important for market participants to accelerate innovation and develop sustainable growth strategies. This Frost & Sullivan study provides a perspective on key trends driving growth in the North American power market. Globally, governments are looking for solutions across sectors to mitigate climate change and support decarbonization, and the renewable energy, carbon capture storage and utilization (CCSU), digitalization, electrification, energy storage, and hydrogen markets hold the most significant opportunities.

The route to decarbonization requires supportive regulatory frameworks that mandate energy efficiency and emission reduction measures across all sectors. To achieve a low-carbon future, significant changes are required. Following the latest COP summit, more than 100 countries pledged their commitment to net-zero emissions by 2050. In North America, Canada announced emissions pledges to reduce total greenhouse gas (GHG) emissions by 40-45% from 2005 levels by 2030, and the United States aims to cut emissions in half by 2030 (50-52% from 2005 levels).

Despite the eclectic market conditions, stakeholders across the North American power value chain exhibited great resilience by developing innovative business models and sustainable practices to increase sales. This resulted in record growth for the power market in 2021. Renewable power generation, storage, and hybrid solutions have been central to decarbonization initiatives by state governments and the commercial and industrial (C&I) sector. In 2022, despite the supply chain constraints, the installation of clean power sources is poised to continue its momentum as demand for sustainable energy solutions accelerates in North America.

Key Issues Addressed:

  • What role will renewables, CCSU, digitalization, energy storage, electrification, and hydrogen play in the regional power transition?
  • What must happen in the North American power market to enable large-scale decarbonization?
  • What can power companies do to reduce their scope 2 emissions?
  • What technological developments are in progress to achieve this power transition?
  • What will be the most attractive growth opportunities?

Author: Lucrecia Gomez

Table of Contents

Why is it Increasingly Difficult to Grow?

The Strategic Imperative 8™

The Impact of the Top 3 Strategic Imperatives on the Power Industry

Growth Opportunities Fuel the Growth Pipeline Engine™

Top Trends Driving Power Market Growth

Growth Drivers

Growth Restraints

Increase of Renewables

Increase of Renewables (continued)

Emergence of Renewables

Emergence of Renewables (continued)

CCUS

CCUS (continued)

CCUS (continued)

CCUS (continued)

CCUS (continued)

Digital Transformation and Innovation

Digital Transformation and Innovation (continued)

Digital Transformation and Innovation (continued)

Digital Transformation and Innovation (continued)

Electrification

Electrification (continued)

Electrification (continued)

Energy Storage

Energy Storage (continued)

Energy Storage (continued)

H2 Economy

H2 Economy (continued)

H2 Economy (continued)

H2 Economy (continued)

H2 Economy (continued)

H2 Economy (continued)

H2 Economy (continued)

Integrated Energy Trends and Solutions

Growth Opportunity 1: EaaS—A New Investment Opportunity

Growth Opportunity 1: EaaS—A New Investment Opportunity (continued)

Growth Opportunity 2: Innovative Business Models for Utilities and Aggregators

Growth Opportunity 2: Innovative Business Models for Utilities and Aggregators (continued)

Growth Opportunity 3: Shift from Consumer to Prosumer

Growth Opportunity 3: Shift from Consumer to Prosumer (continued)

Growth Opportunity 4: Solar PV Plants for Green Hydrogen Production

Growth Opportunity 4: Solar PV Plants for Green Hydrogen Production (continued)

List of Exhibits

List of Exhibits (continued)

Legal Disclaimer

As the North American power market evolves and competition intensifies, it is becoming increasingly important for market participants to accelerate innovation and develop sustainable growth strategies. This Frost & Sullivan study provides a perspective on key trends driving growth in the North American power market. Globally, governments are looking for solutions across sectors to mitigate climate change and support decarbonization, and the renewable energy, carbon capture storage and utilization (CCSU), digitalization, electrification, energy storage, and hydrogen markets hold the most significant opportunities. The route to decarbonization requires supportive regulatory frameworks that mandate energy efficiency and emission reduction measures across all sectors. To achieve a low-carbon future, significant changes are required. Following the latest COP summit, more than 100 countries pledged their commitment to net-zero emissions by 2050. In North America, Canada announced emissions pledges to reduce total greenhouse gas (GHG) emissions by 40-45% from 2005 levels by 2030, and the United States aims to cut emissions in half by 2030 (50-52% from 2005 levels). Despite the eclectic market conditions, stakeholders across the North American power value chain exhibited great resilience by developing innovative business models and sustainable practices to increase sales. This resulted in record growth for the power market in 2021. Renewable power generation, storage, and hybrid solutions have been central to decarbonization initiatives by state governments and the commercial and industrial (C&I) sector. In 2022, despite the supply chain constraints, the installation of clean power sources is poised to continue its momentum as demand for sustainable energy solutions accelerates in North America.--BEGIN PROMO--

Key Issues Addressed:

  • What role will renewables, CCSU, digitalization, energy storage, electrification, and hydrogen play in the regional power transition
  • What must happen in the North American power market to enable large-scale decarbonization
  • What can power companies do to reduce their scope 2 emissions
  • What technological developments are in progress to achieve this power transition
  • What will be the most attractive growth opportunities

Author: Lucrecia Gomez

More Information
Industries Energy
No Index No
Is Prebook No
Podcast No
WIP Number K78E-01-00-00-00