Dominating Trends in the Power Sector
As businesses and commercial end-users in the power grid usher in the New Year of 2022, we continue to see the rise of not just market recovery, but the sustained demand of energy across the globe. 2022 is the year that will tackle green-initiatives head-on as power demand surges ahead of supply.
This upward demand trend has resulted in phenomenal growth in the industry, but has also put strains on an increasingly taxed environmental ecosystem. Energy institutions worldwide are now thinking of ways to store and manage power that is already being produced to reduce wastage.
E-Vehicles will Proliferate
More governments are looking to subsidize and provide grants to companies that can make E-Vehicles more affordable to own and maintain. Additionally, metro companies and public transportation sectors worldwide are looking to adopt more E-Vehicles to save on costs, and also help to achieve state and federal green goals. Battery power can be replenished by using sustainable means, such as solar charging stations - making them even more environmentally and cost-friendly.
Better Storage Solutions
There is currently a great rush amongst innovators to continue improving storage solutions for electrical power. Current solutions are either too space-consuming and demand too much square footage of space to accommodate, and are also very costly. Power wastage continues to be a problem that many R&D institutions are trying to solve. 2022 could see some technological or process breakthroughs that provide the energy sector with smaller and mor efficient storage solutions.
Digitalization of Industry
With new technologies being developed everyday and fundamental changes to energy usage pattern analysis via big data, and the widespread sharing of information amongst sectors using the internet - energy producers can better predict the supply and demand changes in the energy market. This will further reduce power shortages and mitigate energy wastages across the grid. Digitalization remains one of the most important factos in the power industry moving forward.