Power Industry Focuses on Renewables: Solar PV is the Fastest Growing

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Global Power Industry Outlook, 2017, a new analysis from Frost & Sullivan's Power Generation Growth Partnership Service program, examines power market trends, including installed capacity, investment, and regional growth across coal-fired, gas-fired, nuclear, hydro, solar PV, wind and biomass power.

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"As new geographies emerge, local legislation and pro-renewable incentives will impact the fuel mix, compelling industry participants to identify challenges and define localisation strategies for long-term growth," said Energy & Environment Principal Consultant Jonathan Robinson. "As the renewable and distributed energy markets mature, a large installed capacity of equipment that needs servicing will also offer the operation and maintenance sector attractive growth prospects."

Key trends in the global power industry include:

"Digitisation has the potential to drive efficiency gains and unlock new revenue streams for market participants in business areas such as demand response, utility as an energy service company or ESCO, predictive and real-time analytics, vehicle to grid, and virtual power plants and microgrids," noted Robinson. "However, implementation will take time and significant investment."

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