Power Generaton: Top Five Trends for 2019 and Beyond
Power Generaton: Top Five Trends for 2019 and Beyond
SUMMARY
Power generation is experiencing a series of trends which will shape the market for decades to come. Coal is seemingly on a terminal decline, to be replaced by natural gas, and renewable energy is making substantial strides to become more commercially relevant.
Advances ensure new power sources are moving closer to becoming part of the mainstream, with problems such as using renewable energy on demand now being solved. Leading companies in power generation must stay ahead of the development curve in these areas - failure to do so will mean allowing rivals to gain crucial competitive advantages at a time of great change.
KEY HIGHLIGHTS
SUMMARY
Power generation is experiencing a series of trends which will shape the market for decades to come. Coal is seemingly on a terminal decline, to be replaced by natural gas, and renewable energy is making substantial strides to become more commercially relevant.
Advances ensure new power sources are moving closer to becoming part of the mainstream, with problems such as using renewable energy on demand now being solved. Leading companies in power generation must stay ahead of the development curve in these areas - failure to do so will mean allowing rivals to gain crucial competitive advantages at a time of great change.
KEY HIGHLIGHTS
- Most signs point towards natural gas continuing to become the dominant form of energy production in the near-future.
- New generations of renewable power generation technology are predicted to shake-up the energy mix of whole nations on a long-term basis.
- The development of lithium-ion battery arrays capable of filling in gaps in power supply, and molten salt power plants able to provide renewable energy on demand for hours at a time, reveals the commercial breakthrough moment is drawing near.
- Examines the sale of nuclear technology around the world
- Looks at the future of renewable technology
- Assesses the long-term future of coal fired power-stations
- Assesses the rise of natural gas as a power source
- Examines the commercial potential of new energy storage solutions
- Will energy storage solutions become commercially viable?
- Do coal-fired power plants have a future?
- Will natural gas dominate coal?
- How significant is the sale of cheap nuclear reactors?
- Will new generations of renewable energy technology achieve commercial relevancy?
Overview
Catalyst
Summary
Russia and China nuclear exports are thriving - both will continue to do so
Chinese nuclear power plants are growing global force in power generation
China is developing critical interests in the United Kingdom, demonstrating the desire from Beijing to spread to wealthy economies7
Russia is leading exporter of nuclear power technology, enabling new countries to develop networks
Efforts to revitalize coal are unlikely to succeed as natural gas expands
Coal is in decline as a means of generating power - latest US policies are unlikely to change that trend
Natural gas fired power plants overtake coal in developed nations
Coal power plants are closing as energy providers move elsewhere, leaving way open for natural gas
Liquefied Natural Gas playing increasing role in speeding up transition from coal to gas
Next generation renewable energy to shake up power grid
Solar furnaces are becoming more powerful, creating a new option in renewable energy
Tidal and wave power generation moves closer to commercial viability, potentially transforming energy markets
Geothermal energy is edging towards mainstream power generation, helping developing countries
Mass scale energy storage is becoming commercial reality
Tesla battery in South Australia has proven commercial worth - it is likely to be replicated elsewhere
Battery technology is gaining serious attention in California, suggesting a long-term trend is just beginning
Molten salt energy storage is advancing at speed, offering power generation capabilities batteries cannot match
Costs of molten salt energy storage are coming down at speed, making the business case for much wider use
Despite decline, coal remains important and is becoming more efficient
Ultra-supercritical coal finds significant gains in efficiency, slowing decline in usage
Coal is in decline but will continue to be the dominant power source
Conclusions
Power generation industry is entering a challenging period of significant change
Appendix
Sources
Further Reading
Ask the analyst
About MarketLine
Disclaimer
Catalyst
Summary
Russia and China nuclear exports are thriving - both will continue to do so
Chinese nuclear power plants are growing global force in power generation
China is developing critical interests in the United Kingdom, demonstrating the desire from Beijing to spread to wealthy economies7
Russia is leading exporter of nuclear power technology, enabling new countries to develop networks
Efforts to revitalize coal are unlikely to succeed as natural gas expands
Coal is in decline as a means of generating power - latest US policies are unlikely to change that trend
Natural gas fired power plants overtake coal in developed nations
Coal power plants are closing as energy providers move elsewhere, leaving way open for natural gas
Liquefied Natural Gas playing increasing role in speeding up transition from coal to gas
Next generation renewable energy to shake up power grid
Solar furnaces are becoming more powerful, creating a new option in renewable energy
Tidal and wave power generation moves closer to commercial viability, potentially transforming energy markets
Geothermal energy is edging towards mainstream power generation, helping developing countries
Mass scale energy storage is becoming commercial reality
Tesla battery in South Australia has proven commercial worth - it is likely to be replicated elsewhere
Battery technology is gaining serious attention in California, suggesting a long-term trend is just beginning
Molten salt energy storage is advancing at speed, offering power generation capabilities batteries cannot match
Costs of molten salt energy storage are coming down at speed, making the business case for much wider use
Despite decline, coal remains important and is becoming more efficient
Ultra-supercritical coal finds significant gains in efficiency, slowing decline in usage
Coal is in decline but will continue to be the dominant power source
Conclusions
Power generation industry is entering a challenging period of significant change
Appendix
Sources
Further Reading
Ask the analyst
About MarketLine
Disclaimer
LIST OF TABLES
Table 1: Nuclear power plants under construction in China due for completion between 2018 and 2020
Table 2: Nuclear power stations outside of China and Russia to be completed between September 2018 and 2021
Table 3: CSP plants with molten salt
Table 1: Nuclear power plants under construction in China due for completion between 2018 and 2020
Table 2: Nuclear power stations outside of China and Russia to be completed between September 2018 and 2021
Table 3: CSP plants with molten salt
Leading companies in power generation face numerous challenges in 2019 and the years beyond. The industry is experiencing a period of highly significant change.
In developed economies coal continues to slowly decline – its place taken by natural gas. Yet efficiency gains show the fossil fuel will remain in power mixes for a longtime to come.
Meanwhile, to secure domestically produced power, many countries are buying nuclear power plants from Russia and China. Both countries are exporting designs around the world, changing how many countries source power. Whilst Russia remains the leading country for nuclear exports, China is catching up fast.
MarketLine analyst, Christopher Leyman-Nicholls comments:
"Changes here will eventually transform the power generation industry. Companies must keep on top of developments or risk being left behind in what is a period of swift technological change."
Key Questions Answered:
- Will energy storage solutions become commercially viable?
- Do coal-fired power plants have a future?
- Will natural gas dominate coal?
- How significant is the sale of cheap nuclear reactors?
- Will new generations of renewable energy technology achieve commercial relevancy?
