In 2022, the electric power
industry will continue to strive towards a cleaner, more reliable, and
resilient grid. While the issues of today will almost certainly endure, our
annual industry outlook looks at how digital technology, market trends, and government
investment in next-generation energy solutions might help pave the way. In
2021, the electricity and utility business faced significant obstacles, made
significant advances, and got clean energy support globally. At the same time,
the grid's stability and resiliency were being tested by unprecedented and
unpredictable extreme weather occurrences and cyberattacks on vital
infrastructure were making headlines.
These difficult issues will
persist in 2022, such as increasing renewable energy, assuring reliability and
resiliency, and preserving security while keeping costs low. To meet this
formidable challenge, the electric power industry will almost certainly
continue its "3D" transformation: digitization, decarbonization, and
decentralization. Therefore, further advancements in technology and market
evolution are anticipated in the Power industry. Spending in the industry is
expected to stay strong, and renewable energy use is expected to accelerate.
Governments worldwide have
enacted strict rules to prevent the indiscriminate exploitation of natural
resources for energy generation. The energy sector is heavily regulated, and
most companies operating in it must deal with regulatory uncertainty. Aside
from that, the energy and natural resources industry is beset by serious
concerns such as rising energy prices, the depletion of non-renewable
resources, and varying technological advancements. Furthermore, the sector is
vulnerable to cyber-attacks because of digitization. Several challenges have
arisen because of the current situation. For example, the transition from
natural resources to renewable energy sources necessitates significant
investment. Furthermore, businesses are concerned about the security of
sensitive data.
Our reports provide insights into the forces that drive the
energy and natural resource industries forward. We offer services to assist
clients in monetizing both micro and macroeconomic trends. Furthermore, we'll
also be looking at the impact of increased federal policy, investment, and regulatory
support in the power sector.