Renewable Energy Dominates Global Power Industry Spending

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Researched by Industrial Info Resources (Sugar Land, Texas)--Of the $6.3 trillion in planned and under-way Power Industry spending being tracked by Industrial Info across the world, approximately $2.98 trillion is for renewable energy projects. As one can probably guess, hydropower, wind and solar are the three key players in this sector. In terms of project value, hydropower, with approximately $1.20 trillion in planned spending edges out wind power, which accounts for $1.12 trillion in planned project spending. Solar power activity follows in a somewhat distant third place, with $402 billion in planned project activity.

Click on image at right for a breakdown of Industrial Info's Power Industry project coverage by major fuel type.

While renewables as a whole overshadow other fuel sources, coal remains the single largest planned source of fuel throughout the world, accounting for $1.72 trillion in planned spending. Although most new-build coal-fired projects have ground to a halt in most developed economies in the West, Asia accounts for more than $1.5 trillion in planned coal-fired spending, with most of this occurring in China and India.

Accompanying the build-out of renewable energy in the West are associated Power Transmission & Distribution projects, particularly in those countries that are seeking to close existing fossil-fueled power stations as renewable energy is brought online. Global investment for Transmission & Distribution has been steadily increasing over the past few years and is expected reach into the hundreds of billions of dollars over the next 15 years.

On Wednesday, December 2, at 9:00 a.m., Industrial Info will present a complimentary webinar about these and other trends and drivers of the global Power Industry. Join us as we discuss where the hotspots of power development are and how world regions are trending in regard to fuel type, environmental legislation, and much more.

The webinar is entirely complimentary, and participants will receive an "on demand" link to view the presentation at their leisure after the event has concluded. Make sure to RSVP today!

For those in or around the Houston area, mark your calendars for January 19, 2016, when we will be presenting our annual Market Outlook & Networking Event at the George R. Brown Convention Center! The panel discussion will feature experts from various industrial sectors and will discuss the outlook for the industrial markets of the U.S. and Canada, with special emphasis on the U.S. Gulf Coast region.

Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, five offices in North America and 10 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle™, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at www.industrialinfo.com.