Barometer of energy sector sentiment shines a light on the issues faced by the power industry
POWER-GEN Europe and its co-located event Renewable Energy World Europe, the leading conference and exhibition for the international power and renewable industries, today launches the results of the first POWER-GEN Europe Confidence Index, measuring the attitudes of power industry practitioners.
This Index is a pan-European study of the region’s power market which focuses on topics including: renewable integration, plant modernisation, energy storage, electric vehicles and all the main types of power generation.
The key findings of the study include:
The growing share of renewables in the energy mix is the most important issue in the short-term and the second most important in the long-term. Offshore wind is seen as of high significance to the sector in the short and long-term.
Energy storage is the second most important issue in the short-term and the most important in the long-term, but the industry feels unprepared for what this brings.
Electric vehicles and smart cities will become much more important to power industry professionals over the next 20 years.
Plant modernisation, onshore wind and capacity market mechanisms are all expected to decline in importance in the longer term, according to those taking part in the survey.
Finance and investment professionals see greater importance in the Middle East and Africa than other respondents.
Asia-Pacific is the most important area for investment outside of Europe.
Power sector very divided over EU policy and legislation – almost equal numbers thought it was helpful and unhelpful.
Europe remains a most important market. Germany was the most important country, with the UK and France taking second and third place respectively.
The industry feels generally underprepared for carbon capture and storage.
Gas is considered to be the most important source of power, with the majority of respondents ranking it in their top three. Wind and nuclear are second and third most important respectively.
The industry has a lack of confidence around combating cyber security threats.
The full report can be accessed here https://www.powergeneurope.com/confidence-index.html
The study will be carried out again next year, ahead of POWER-GEN Europe and Renewable Energy World Europe 2016 in Milan, Italy at which time the 2015 results will serve as a benchmark.
Aspectus PR London
+44 (0) 20 7092 8127