July 11, 2012—The United States is challenged by exorbitant energy demands, accounting for 26% of the world’s energy consumption, and corresponding greenhouse gas emissions, warns Frost & Sullivan, a provider of disciplined research and best-practice models to drive the generation, evaluation, and implementation of powerful growth strategies. And worse, new analysis from Frost & Sullivan’s U.S. Energy Challenges for 2020 research finds that U.S. energy consumption will increase by 7.3% during a 10-year period over 2010 levels.
To meet this mounting need, the market has witnessed strong growth in renewable technologies, which has been supported by the focus on domestic energy production and sustainability, says the company. Solar photovoltaic (PV) and wind power are the fastest growing renewable technologies and will represent more than 40% of electricity generation in 2020.
To combat U.S. energy challenges, the industry has focused on the acceleration of renewable energy deployment and use of energy efficiency to displace imports and improve the balance between supply and demand, says Frost & Sullivan. Supporting this movement is the technology trend of innovating to zero, where companies are focusing their research and development (R&D) on more zero-emission technologies, such as wind power, geothermal energy, solar photovoltaic (PV), and biomass.
