LONDON, May 16, 2016 /PRNewswire/ -- The top 10 technologies predicted to have the highest impact in the Energy and Utilities sector in 2016 include lithium batteries, tight oil extraction, microgrid, home energy management systems (HEMS), waste heat recovery, biomass energy, supercapacitors, thermal energy storage, gas-to-liquid, and heat pumps. The selection of the technologies is based on a predetermined criteria including global IP activity, R&D funding, market potential, regional adoption potential and sectors of economic impact. Key trends in the energy & utilities sector in 2016 include the slump in crude oil prices, continued interest in renewable energy, impact of increasing digitalization, and growth in energy storage.
Key Trends in Energy & Utilities in 2016
- Slump in crude oil prices
The slump in global crude oil prices have impacted the global energy industry, with far-reaching impact on business, politics and the environment. Many energy companies have seen their profits slashed in half, which has resulted in dramatic cuts to annual operating budgets. The significant cuts have raised concerns on whether there will be sufficient investment to cater to future energy demand.
-Investment in renewable energy reaches an all-time high
Installation of renewable energy capacity reached an all-time high in 2015, and this momentum is expected to continue into 2016. Installed capacity is growing faster in developing economies such as China and India, driven by supportive policies in these countries.
-Impact of increasing digitalization
The increasing necessity for energy efficiency has resulted in the growth of digital solutions to manage energy, including solutions for the electricity grid, buildings and residences. Trends in this area include the increasing use of cloud solutions, and analytics for management of energy data.
-Growth in energy storage
Energy storage solutions are experiencing high growth, driven by sectors such as automotive, consumer electronics, telecommunications, utilities and healthcare. Batteries remain the dominant type of energy storage medium, due to their performance and reliability
Download the full report: https://www.reportbuyer.com/product/3829217/
Reportbuyer is a leading industry intelligence solution that provides all market research reports from top publishers
For more information:
Research Advisor at Reportbuyer.com
Tel: +44 208 816 85 48
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/2016-top-technologies-in-energy--utilities-techvision-300269228.html