Renewable energy in the US will experience “substantial” growth through 2040 as a percentage of total electricity generation, many predict it could move to 27% of electricity generated by 2040 if we see high oil prices.
Of the renewable energy segments, wind and solar are projected to show the greatest growth accounting for most of the overall gain, followed by geothermal and biomass. As the price for solar continues to fall many project that solar could grow at the 59% rate it experienced during the last 5 years, generating exponential growth potential.
A total of 97% of wind capacity is in the utility sector. Wind capacity should grow significantly through 2022, but after the tax credits expire, the growth should slow. Because the most favorable wind resources are located in a few regions in the country, increased adoption of wind technology in these regions may be limited by the ability of regional grids to handle high levels of intermittent generation.
Geothermal is projected to increase at a faster rate than wind (5.5% verses 2.4%), but the overall size will still remain sm
The exact growth rate of the renewable energy market is difficult to predict as some of the growth will be based on the length and extent of the government subsidies, as well as the future price of oil and natural gas. However, regardless of the impact of the subsidies and future oil and natural gas pricing, the renewable’s energy market is projected to have significant growth through 2040.
Our Research Includes
- Opportunity assessment
- Market sizing
- Market assessment
- Brand awareness
- Mergers & acquisition research
- Competitive intelligence
- Customer insight
- Customer mapping
Areas of Concentration
- Service providers
Representative Energy Projects
- Uncover issues with current products and potential opportunities for photo voltaic films with a specific set of attributes
- Data collection and analysis to fulfill pipeline government regulatory requirements
- Global market study of the world coal market with a focus on coking coal. Study included relevant production, shipments, competitive positioning and pricing information. Using the findings of the study, PMG developed a gap analysis based on the future strategic direction and the current state (facilities, faculty, curricula, etc.)
- Provide overall trends and characteristics in the global oil market and construct country overviews for US, Canada, Russia, China, Malaysia, and Brazil
- Global assessment of turbine market, including primary use industries, competitive assessments, preferred countries of origin, typical unit specifications and requirements, etc.
Clients in the Energy Market Include:
- Colonial Pipeline
- Dometic Marine
- CMP Engineering