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2020 Power and Utilities Industry Outlook  

Power and utilities industry seeks growth by leading clean energy transition

In 2019, natural gas dominated the US power generation mix, as wind and solar saw a rise in capacity. And while some of the year’s power and utilities industry trends—cyber risk, scrutiny from regulators, natural disasters—will continue into the new decade, 2020 will likely bring opportunities for the power and utilities industry to lead the clean energy transition.

Clean energy transition brings opportunities in the new year

In 2019, the multiyear pattern of record-breaking utility capital expenditures amid stagnant load growth continued in the power industry. And it shows few signs of changing as the need to upgrade aging infrastructure, digitize, and secure the grid against natural and manmade disasters continues. Natural gas continued to dominate the US power generation mix, and wind and solar capacity continued to rise. Renewables, as a whole, surpassed coal-fired plants’ share of US generation for the first time. And the rush to deploy battery storage surged as battery costs fell sharply.

As we move into a new decade, many power and utility companies are not only boosting their own decarbonization commitments and efforts, but they’re also taking on the mantle of leadership in the economy-wide clean energy transition. In 2020, we expect to see these efforts intensify and bring new opportunities for customer engagement and growth. 

In addition to the above, we expect:

  • Power and utility companies to raise the bar on climate change goals in 2020
  • New opportunities to create value from distributed energy resource (DER) strategies
  • Exploration of growth through new business models 
  • Utilities to seize opportunities to help build cleaner, smarter cities 
  • EV growth and opportunities

Please download the full report to discover more about these developments. 

2020 Power and Utilities Industry Outlook

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