Renewables and Natural Gas Projects Continue to Dominate U.S. and Canada Power Sector
The U.S. and Canada power sectors continue evolving as cheap natural gas and renewables incentives continue edging their way into the markets, according to Industrial Info's 2017 Global Industrial Outlook.
The abundance and low cost of natural gas is driving the construction of natural gas-fired power plants throughout the U.S. and Canada. In the U.S., increasing environmental regulations are forcing the retirement of older, coal-fired facilities, while states' renewable energy portfolio standards are encouraging the growth of renewable energy, particularly wind and solar power. Canada has taken great strides to phase out coal-fired power from its generation mix. For more details see November 22, 2016, article - Canada to Phase Out Traditional Coal-Fired Power by 2030.
As the use of natural gas-fired power continues to increase in the U.S., so do natural gas-fired maintenance projects. Just as Industrial Info saw an increase in natural gas-fired outages in 2016, it expects to see the same in 2017. This is because of the cost of natural gas, the operational runtime hours, and the continued coal-to-natural gas conversions we are seeing regionally.
Industrial Info also continues to see opportunities in the wind sector as long-term service agreements (LTSAs) expire and wind projects come out of their warranty periods. As LTSAs expire as windfarms grow older, increasing opportunities will arise for needed maintenance.
To learn more about to what to expect in the Power Industry, as well as 11 other industries tracked by Industrial Info, check out our 2017 Global Industrial Outlook. Write-ups from our industry experts provide information on both North American and international sectors, as well as top-line economic forecasts for different world regions. Quarterly updated project spending statistics are broken down by industry, market region and budget type (capital or maintenance). Detailed assessments from Industrial Info's industry experts help explain how the data and information reflect broader industrial trends.
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