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Electrical

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Electrical

Electrical, or everything related to electrical, systems, power generation, tools and equipment, the green development, has evolved in an extremely potential market. The value of power projects in the European energy sector stands at just over €1 trillion according to new data. Research firm Industrial Info Resources (IIR) there are about 9400 power projects underway in Europe at the moment, worth a total of €1.02 trillion. And IIR has found that more than half of these projects are renewable energy-based, including wind, solar and hydroelectric.

Indeed, wind projects don’t just dominate current green energy spending – they top the power sector as a whole, accounting for almost half of Europe’s power project spending, with a total of €469bn.
Among these are a growing number of ‘super-offshore’ windfarm projects, worth in excess of €1bn each, being built in the waters surrounding the UK and in the North Sea. “Renewable energy is no longer the poor relation to conventional power,” said Nicola Lynch, President of Industrial Info Resources Europe.

Renewable energy will represent the largest single source of electricity growth over the next five years, driven by falling costs and aggressive expansion in emerging economies, the IEA stated in an annual market report. Pointing to the great promise renewables hold for affordably mitigating climate change and enhancing energy security, the report warns governments to reduce policy uncertainties that are acting as brakes on greater deployment.


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