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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
18-Nov-2022
North America
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
Popular Topics
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
| Industries | Energy |
|---|---|
| No Index | No |
| Is Prebook | No |
| Podcast | No |
| WIP Number | K78E-01-00-00-00 |