New York, June 22, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "North America Energy Transition Market Analysis by Sectors (Power, Electrical Vehicles, Renewable Fuels, Hydrogen and CCS/CCU) and Trends" - https://www.reportlinker.com/p06469912/?utm_source=GNW
Meanwhile increasing support from government policies and tax credits will facilitate the further growth of electric vehicles as well as less developed technologies such as low-carbon hydrogen and carbon capture.
The energy transition in North America is gaining steam due to both the global momentum behind the sector and the Biden administration’s support.Recent laws such as the Infrastructure Investment and Jobs Act, Inflation Reduction Act, and other initiatives are beginning to funnel billions of dollars into the sector and reduce the green premium on emerging technologies like green hydrogen and carbon capture.
Thermal power’s presence within North America’s power mix will continue to decrease to 32% of power generation in 2035.In comparison, a strong build out will see renewables hold 65% of power capacity in 2035.
As a result, emission free energy (including large hydropower) will account for 56% of the region’s power generation in the same year.A combination of government policies, tax credits, higher gasoline prices, and growing environmental consciousness among consumers will increase the demand for electric vehicles within the North America market.
As a result, electric vehicles will exceed 75% of the light vehicle market in Canada and the US. The US will also remain a global leader in ethanol production, boosting North America’s renewable fuel production to 10,700 mmgy by 2030. North America is one of the world’s most active regions for carbon capture, accounting for 63% of global capacity in 2021. 156 projects of varying size are in the pipeline to commence operations by 2030. North America has also seen plenty of activity in the low-carbon hydrogen space, including the announcement of the world’s two largest projects in eastern Canada by Green Hydrogen International. In addition, North America is one of the most attractive regions for blue hydrogen due to abundant natural gas and favorable conditions for geological CO2 storage.
Key Highlights
- Gas has been the largest power generation source in North America since 2015, and will continue to produce 25% of the region’s electricity through to 2035.
- Coal power is set to decrease its generation share from 24% in 2018 to just 6% in 2035, while solar PV will increase from 2% to 26% across the same time frame.
- By 2035, nearly 56% of the region’s power generation is expected to be emissions free when large hydropower is included, up from 24% in 2018.
Scope
- Current leaders within North America’s Energy Transition
- Renewable Energy Policies and Economics
- Power Capacity Share Outlook
- Power Generation Share Outlook
- Renewable Generation Share by Country, 2021 - 2035
- Thermal Power: Decommissioning and Emissions
- Major Players in Renewable Power
- Electric Vehicle Production Forecasts for North America and EV’s Share of Light Vehicles
- Electric Vehicles Policies and Support
- Largest Active and Upcoming Renewable Refineries in North America
- Renewable Fuels Outlook
- Renewable Fuels Policies and Support
- CCUS capacity, 2018 - 2030 and Share by End Use Sector
- CCUS Policy
- CCUS Projects
- National Hydrogen Strategies of Canada and the US
- Hydrogen Capacity, 2018 - 2030
- Case Studies of Hydrogen End Use Sectors
Reasons to Buy
- Obtain the most up to date information on recent developments and policies for North America’s energy transition.
- Identify opportunities in upcoming projects involving electric vehicles, solar and wind power generation, EVs, CCS and hydrogen production in North America.
- Assess competitors based on their active and pipeline capacities for renewable energy generation, CCS/CCU projects and hydrogen projects
- Develop business strategies by identifying the most promising sectors for future growth
Read the full report: https://www.reportlinker.com/p06469912/?utm_source=GNW
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