What are the Major Growth Prospects Propelling the North American Power & Energy Sector?
Disruptive technologies and innovative business models will boost decarbonization and the digital sustainability of supply chains
Research Overview
After a challenging year in 2020, the year 2021 redefined the global energy industry in many ways. The world witnessed rising concern about climate change and demand for sustainable solutions and processes. Following the latest COP summit, more than 100 countries have pledged commitment to net-zero emissions by 2050. In North America, Canada announced a commitment to reduce total greenhouse gas emissions by 40 to 45% from 2005 levels by 2030, and the United States aims to cut its emissions in half by 2030 (between 50 and 52% from 2005 levels).
Despite the difficulties brought on by the COVID-19 pandemic, stakeholders across the energy value chain exhibited great resilience by developing innovative business models and sustainable practices to increase their sales. This activity resulted in record growth for the renewable industry in 2021. And in spite of the supply chain constraints, in 2022, installation of renewable energy sources is poised to continue its momentum as demand for clean energy solutions accelerates in North America.
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