|[November 01, 2012]
North America Will Lead the World in New Smart Energy Capacity Additions through 2015, According to Pike Research
BOULDER, Colo. --(Business Wire)--
Renewable power sources - including hydrokinetic (which includes pumped
storage), biomass, waste, geothermal, wind, solar photovoltaics (PV),
and solar thermal - make up 10 percent of total electricity production
in the United States. While news headlines in this election year have
highlighted failures by renewable energy companies, North America leads
the world in terms of additions of new renewable energy capacity.
According to a recent report from Pike
Research, a part of Navigant's Energy Practice, North America will
add more than 400,000 megawatts (MW) of renewable capacity from 2012
through 2015, making it the leading region in the world for new
"State governments in the United States are pushing utilities to
purchase more renewable energy, thus encouraging the market for
renewables artificially," says research director Kerry-Ann Adamson.
"Although North America today is heavily reliant on the biofuel and
biopower sectors for revenue and new installations in the smart energy
sector, there are a number of exciting underlying growth areas that
could create a more sustainable, high value, high growth smart energy
sector in North America."
Although second to the United States in terms of capacity additions,
Europe will be the largest region in terms of smart energy revenue,
totalling more than $500 billion through 2015. The fastest growing
region, however, is Asia Pacific, according to the report. If its
current development trajectory holds, Asia Pacific by 2015 could
challenge North America in terms of its global leadership position in
annual capacity addtions.
The report, "Smart
Energy Annual Report 2012", provides a comprehensive view of the
smart energy market across three main application sectors - renewable
energy production, energy storage, and energy conversion devices - along
with 15 key subsectors. The study examines key market trends and issues
in smart energy hotspots around the world and includes profiles of more
than 30 trendsetting companies in the smart energy space. Revenue and
capacity snapshots are provided by technology and region for 2011 and
2013, with key topline forecasts extending through 2015. An Executive
Summary of the report is available for free download on the firm's website.
About Pike Research (News - Alert)
Pike Research, which joined Navigant's global Energy Practice on July 1,
2012, provides in-depth analysis of global clean technology markets. The
team's research methodology combines supply-side industry analysis,
end-user primary research and demand assessment, and deep examination of
technology trends to provide a comprehensive view of the Smart Energy,
Smart Grid, Smart Transportation, Smart Industry, and Smart Buildings
sectors. Additional information about Pike Research can be found at www.navigant.com/pikeresearch.
Navigant (NYSE: NCI) is a specialized, global expert services firm
dedicated to assisting clients in creating and protecting value in the
face of critical business risks and opportunities. Through senior level
engagement with clients, Navigant professionals combine technical
expertise in Disputes and Investigations, Economics, Financial Advisory
and Management Consulting, with business pragmatism in the highly
regulated Construction, Energy, Financial Services and Healthcare
industries to support clients in addressing their most critical business
needs. More information about Navigant can be found at www.navigant.com.
* The information contained in this press release concerning the
report, "Smart Energy Annual Report 2012," is a summary and
reflects Pike Research's current expectations based on market data and
trend analysis. Market predictions and expectations are inherently
uncertain and actual results may differ materially from those contained
in this press release or the report. Please refer to the full report for
a complete understanding of the assumptions underlying the report's
conclusions and the methodologies used to create the report. Neither
Pike Research nor Navigant undertakes any obligation to update any of
the information contained in this press release or the report.
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