Electric Power’s Most Transforming Trends

There’s no doubt that the electric energy business is changing, and power companies are looking toward the future. Here are ten of the top trends that industry leaders are following, according to electric industry newsletter Utility Drive.

10.

The Decline of Coal Power
About 25,000 megawatts of coal capacity has been taken offline since 2009, and a similar additional reduction is forecast by 2022.

9.

Natural Gas Boom
As utilities move away from coal, cheap, abundant natural gas is stepping in to meet the void as a cleaner alternate fossil fuel.

8.

Falling Renewable Energy Costs
Improvements in solar and wind power generation technology are making renewables more cost competitive.

7.

More Energy Users Dropping Off the Grid
Rooftop and off-grid solar are causing both residential and business users to leave the grid in growing numbers.

6.

Utilities Going Solar
Power companies are offering rooftop solar options as well as building large-scale solar installations for utility-scale production.

5.

Restructured Rates
Debates are heating up over the way off-grid energy is valued when it’s sent into the utility network. Utilities, consumers, and regulators are looking at ways to make it equitable for all parties.

4.

Upgraded and Modernized Grids
Grids will need to be expanded and modernized to accommodate the growing number of power sources as well as two-way energy distribution.

3.

Large-Scale Energy Storage
As time and weather sensitive generation such as wind and solar increase, there will be more demand for storing large amounts of energy for later use.

2.

New Utility-Customer Relationships
Companies are rethinking their customer relationships and focusing more on one-to-one interaction with things like mobile apps, use analysis and “smart home” packages.

1.

Changing Business Models
Traditional vertically-integrated models are changing with more companies reaching out for third-party extras on both the production and consumer sides.

Allstar Electrical Services has followed the latest trends and developments in the electric industry for over 15 years. To learn more about how these trends will impact your home or business, browse through our Resources section for timely articles and handy tips.

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