2020 has been a game-changer for every industry. Arguably among the greatest paradigm shifts from the COVID-19 pandemic, is the utility industry. While natural gas still dominated the US power mix in 2019, wind and solar energy saw an incredible rise in capacity. In fact, the jobs in the solar energy industry are growing 17 times faster than the economy of the US.
With the two greatest fears for utility companies being the financial impact on future liquidity and capital resources along with a potential global recession, it is only natural that businesses will be on the lookout for the utility transition to clean energy that has been so heavily on the rise. In light of all that, prominent figures such as Elon Musk, have also contributed to the fashion of solar energy being the buzz word on everyone’s mind. This is why it is time to not fear the future but look toward it with the industry’s thinkers who are looking ahead. In the words of folk legend Bob Dylan, “The Times Are A-Changin’.”
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While electric utility companies used to be regionally monopolistic, broadly speaking, the industry is breaking down into the following four supplier segments:
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In conclusion, the soon to be transformed supply of energy needs to be addressed by businesses if they don’t want to be left behind with the ways of the old. Forward-thinkers have already started to follow the trend of the market and with many making renewable energy, and the utility industry has no choice but to follow suit.
Solar energy jobs were multiplying faster than anything else in the 2019 economy, so you know where the utility industry is headed. Additionally, both the public demand and the company shifts are gearing towards the sustainable future of solar energy. So, how do you put that knowledge into action for your business?
We help businesses cut costs by taking advantage of our outsourcing services. SuperStaff has helped businesses make the shift for over the past decade and we would love to help you. Make the shift today!
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