Energy industry overview

The world population is on the rise, so is the demand for energy. The good news is that the recent energy industry trends are more focused towards sustainable energy generation methods, especially due to the ever-increasing environmental concerns such as global warming. But on the flip side, the energy industry is facing mounting challenges when it comes to providing cheap and reliable energy owing to the high costs involved and lack of sufficient resources to meet the growing demand. Over the past year, global conditions have also continued to challenge the energy sector. However, with breakthrough developments in the energy sector in the recent times and more emphasis from the government for clean energy measures, 2018 will undoubtedly be an eventful year for the energy sector. Here are our top picks of the energy industry trends that you can expect in 2018:

Energy Industry Trends 2018

Improved energy storage to the rescue of renewables

For a long period of time, the lack of large-scale battery energy storage systems has held renewables back from being more widely accepted. Big players in the market such as Tesla, ABB, and Siemens AES are focusing more on the improvements in battery storage in a big way, and 2018 could well be a ‘breakthrough year’ for battery storage tech. Better battery storage could demolish the main obstacle to renewable energy, contributing more to energy grids. According to several industry experts, battery-based energy storage will grow to as much as 45GW in the next five years.

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