BLOG

4 Exciting Energy Industry Trends in Store for 2018

May 21, 2018

2018 is considered to be a milestone year as far as the energy industry is concerned. There are a number of notable energy industry trends for investors to keep an eye on in 2018. Oil prices are on the rise, as is domestic production. Wind and solar energy continue to be the major contributors of new electricity production, both domestically and around the world, opening up a cleaner energy future. Furthermore, the revolution in self-driving and electric vehicles could mean a lesser burden on the oil sector. But these are not the only things players and stakeholders in the energy industry should keep a close watch on. Here is a roundup of four energy industry trends to create a spark in 2018:Request Demo_SE

Changing energy storage demand

The rapid reduction in the cost of batteries has revamped the way utilities and regulators look at electricity production. Distributed energy resources (DERs) like rooftop solar, energy storage and demand response can now provide consistent energy flow as needed at a much lower price. With the reduction in costs and the rapid rise of innovative storage solutions by companies in the energy industry, we’ll see supply and demand disaggregate. Now companies in the energy industry will not have to build enough power-generating capacity to supply the peak hours of the highest demand day. Instead, they’ll be able to build the lowest-cost generation to supply the grid, no matter the time of day.

Improved digitization

Changes caused by digital technologies will bring benefits to all parts of the value chain from generation, to distribution, and retail; and will deepen to a point where they alter the DNA of utilities. Some companies are already redefining their identity from utility to a tech company, revamping their strategy, products, and business models fundamentally. Customers will see direct benefits from the digital revolution. More choice and tailored products, especially in terms of new services in mobility, smart home control, and decentralized energy system management. 

Microgrids

Microgrids may not yet be common; however, they are one of the energy industry trends that are growing at a quick and steady rate. The global microgrid market was at $12 billion in 2017 and is expected to reach a whopping $23 billion by 2021. Microgrids have become an ideal energy solution for consumers in disparate communities, ranging from lower-income areas to regions that experience serious weather threats, to people desiring an eco-friendlier lifestyle. Microgrids help in localization and help people to take greater control of their energy source by decreasing their dependency on companies in the energy industry.

Smart thermostats

We live in a “smart” age. Smart TVs, smartphones, and now, energy is at the forefront of smart technology. Consumers are adding smart thermostats to their homes at a rapid pace. This is likely a result of people’s evolving relationship with their energy usage: their attention is no longer just about consuming, but instead on the how and why of consuming. Smart thermostats are one of the easiest and most accessible technologies using which homeowner can use not only to understand their energy output but to reduce and save money in the long term as well.


To know more about the energy industry trends

Get More Info_SE


Getting Down To Business

We are offering Free Trials to all our customers or prospects who have been impacted positively or negatively by Covid-19 and are looking to connect with prospect buyers immediately.

Contact us

Sourcing and Procurement Market Intelligence Services

Products and Tools

Featured

Services Overview

Category Market Intelligence

Supply Market Analysis

Low-Cost/Best-Cost Country Sourcing

Benchmarking

Spend Analysis

Cost Modeling and Should-Cost Analysis

Total Cost of Ownership (TCO) Analysis

Supplier Risk Analysis

Supply Chain Risk Assessment

Supplier Sustainability Assessment

Commodity Price Forecasting

Category Management

Supplier Negotiations

Contract Management

Procurement Store

Purchase Ready-to-use Reports

SEinsightsTM

Our Robust Procurement Platform

BizVibeTM

Suppliers and Buyers Marketplace

SUPPLY MARKET ANALYSIS FOR A METAL MANUFACTURING COMPANY HELPS ACHIEVE ANNUAL SAVINGS OF $15 MILLION

Industries

Industries Overview

Automotive and Tire

Banking, Financial Services and Insurance

Biotechnology, Pharmaceutical and Life Sciences

Chemicals

Energy

Food and Beverage

Industrial and Manufacturing

ICT, Media and Entertainment

Mining, Metals and Minerals

Retail and CPG

Transportation

INCREASING LOCAL PROCUREMENT BY 28% FOR A COMPANY IN THE METALS AND MINING INDUSTRY – A CASE STUDY BY SPENDEDGE

Resources

Featured

Resources Overview

COVID-19 Resources

Blogs

Case Studies

Whitepapers

Webinars

Press Releases and Media Mentions

5 KEY CORONAVIRUS RISK ASSESSMENT STRATEGIES TO OVERCOME HEALTHCARE SUPPLY CHAIN CHALLENGES

IDENTIFYING STRATEGIC PURCHASING PRACTICES FOR A COMPANY IN THE US FOOD SERVICE INDUSTRY | SPENDEDGE’S LATEST SUCCESS STORY

COVID-19

Featured

Overview

Buyers

Diagnostic Test Kit

Additional Resources
Contact

A LOOK INTO THE FUTURE OF THE FOOD AND BEVERAGE INDUSTRY AFTER THE COVID-19 PANDEMIC

Identifying the Top 100 Coronavirus (COVID-19) Test Kit Manufacturers Across Regions

Clients

Featured

Clients Overview

Who We Serve

Case Studies

SUPPLY CHAIN MANAGEMENT HELPS AN IMPORT AND EXPORT INDUSTRY CLIENT ENHANCE SUPPLY CHAIN VISIBILITY

REALIZING SAVINGS OF $15 MILLION IN PACKAGING SPEND FOR AN FMCG CLIENT – PACKAGING SOURCING STRATEGY

About Us

News

About SpendEdge
Why SpendEdge?
Vision, Mission and Values
Clients
Social Impact
Global Offices

Press Releases and Media Mentions

Upcoming Events & Webinars