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 ...

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.