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Renewable Energy Trends

The recent trend toward renewable and sustainable energy sources is changing the way we power our lives and businesses. New technology and efficiency initiatives are making clean energy more attainable and cost-effective. Because of the benefits of renewable energy, over 50% of power sources are expected to be renewable within the next 15 years.

The Effect on the Energy Industry

The fast transition to renewable energy is expected to slow consumption of fossil fuels for the first time since the Industrial Revolution. Gas is the only fossil fuel to continue growing its share in the global energy supply during the competitive push toward clean energy. Due to a decrease in demand from key industries like power and transportation, oil consumption is expected to drop to nearly half of what we use today. The demand for coal is also expected to drop 50% before 2050 as its vital China market moves to clean energy options.

The rise of wind and solar energy could have a major economic impact on the global market. It’s likely that these renewable energy sources will be cheaper than traditional coal and gas energy by 2030, and businesses and economies are adapting to stay competitive. China and India are spearheading the push toward wind and solar and will be the main contributors of these energy sources in the future. When half of all global energy is produced from clean sources, Asian economies may benefit the most.

Additionally, heavy energy users like automotive and industrial businesses have reduced their operating costs by drawing energy from clean sources and redesigning distribution methods to be more sustainable. The energy industry as a whole will need to keep up with rapid changes in technology and use a forward-thinking and sustainable approach to compete with the advantages of the renewable energy sector.

Innovative Energy Solutions with CFR Global Executive Search

During this defining period for the energy industry, strong executive leadership is crucial for the development of long-term strategies that are efficient and sustainable. CFR Global Executive Search has the industry knowledge to find executives with tailored skill sets who can create innovative and impactful changes for your company.