Sustainability Focus
Renewable Energy
The US will produce more power from renewable energy sources than coal for the first time in 2020, marking a milestone in the transition to a clean energy system. Global cumulative installed capacity for wind power has increased at 20% annually since 2006 and is projected to reach 1,000 GW by 2025.
Energy Efficiency
Nearly $10 billion is invested in energy efficiency measures by US gas and electricity utilities alone, however substantial opportunity remains. The American Council for an Energy Efficient Economy estimates that efficiency measures could reduce greenhouse gas emissions by 50% by 2050, representing 2,500 million metric tons of CO2.
Energy Storage
The battery energy storage market is expected to grow to $546 billion in annual revenue by 2035, including $400 billion for mobility solutions like electric vehicles. Grid-connected energy storage is projected to double by 2025 over 2020 to nearly 9 GW.