Enverus, a global platform for renewable energy technology, has identified what technologies are leading the way in the industry. Bernadette Johnson, general manager for Power and Renewables with Enverus explained that the shift from fossil fuels to renewable energy is a continuous process of change within the power industry. She highlighted that electricity consumption in 2050 is expected to increase by a factor of 2.3 compared to 2022. This shift presents significant risk to the power sector but also offers great opportunity. According to EnverUS, there have been 111 energy project deals worth $500 million or more signed from 2022 through 2024. The largest was worth $13.96 billion by oil majors BP and TotalEnergies in a 7-GW offshore wind site auction in Germany. The company developed a “Hype Curve” to compare various technologies from low expectations to high expectations. However, this curve does not last forever.
Solar Dominates US Energy Capacity Growth
The Federal Energy Regulatory Commission (FERC) has published data showing that solar accounted for over 75% of US electrical generating
