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Solar and Wind Dominate Power Generation Capacity
 

Frost & Sullivan’s analysis Global Power Industry Outlook, 2018 reveals that a combination of factors led by renewables is set to transform the current power landscape. Increased battery energy storage capabilities, surges in merger and acquisition activities, and the advent of disruptive energy start-ups are contributing to tremendous growth and transformation in the sector. In early 2017, global solar photovoltaics (PV) capacity surpassed nuclear capacity, driven by high investment levels.

The analysis indicates that this growth will continue through 2020 as solar PV is likely to surpass wind capacity, making solar the fourth largest generation type followed by coal, gas and hydro.

The outlook also covers investment and capacity trends for all major generation types through 2021, while also highlighting innovations, challenges facing the industry, and leadership thought points Chief highlights and growth opportunities include:

· The 3D’s of Power – Decarbonization, Decentralization, Digitalization – continue to be underlying factors determining the global power market landscape;

· $2.20 trillion in capital investment will be devoted to generation capacity additions for the period 2017 to 2021 driven mainly by renewable energies;

· The residential battery storage market will be the fastest growing in 2018 driven largely by the surge in the behind-the-meter residential deployments in the US, Germany, and Australia;

· Over $400 Billion will be invested annually in generation capacity additions for the period 2017 to 2021 driven mainly by renewable energies, solar and wind, accounting for $603.4 billion and $553.7 billion, respectively during this period.

"Analyzing long-term scenarios and defining positioning strategies should be key focus areas for industry participants in the long term," said Vasanth Krishnan, Energy & Environment Analyst at Frost & Sullivan. "Also, as the renewable and distributed energy markets mature, a large installed capacity of equipment will need to be serviced, offering attractive growth prospects within the operations and maintenance sector."

 

 
 
 
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