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Explore: the energy industry

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  • Explore: the energy industry

    We take a closer look at the energy industry, exploring the trends, types of jobs available, and the skills you’ll need to get your career started.

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    The energy industry is one of the largest in the world and is a sector that’s vital to the lives of people across the globe. It’s a broad and far-reaching field that can be both innovative and controversial. In this post, we explore the energy industry in detail, looking at some of the key areas and considerations.

    As well as exploring some of the current energy industry trends, we’ll also explore some of the jobs and careers available. If you’re interested in working in the sector, we’ve also picked out some courses and resources that can help you reach your goals.

    The global energy industry
    Let’s start by looking at some of the definitions and trends in the energy sector at the moment. It will provide us with a useful context for some of the other key areas of this rapidly developing industry.

    What is it?
    The energy industry is vast, spanning many different areas, professions and specialisations. In general, it refers to the generation of power from oil, gas, nuclear, and renewable resources such as wind and solar.

    There are generally three different areas that are linked to this concept – the generation of the power itself, the transmission and distribution of it, and the sales and metering side. Within each of these areas, there are many energy businesses, markets and jobs.

    How big is the energy industry?
    As you might expect, the global energy market is pretty massive. Estimates suggest that in 2018, global energy investment reached around $1.85 trillion. Other figures estimate that global oil and gas exploration and production is the 8th largest industry in the world by revenue, worth $2.7 trillion in 2021.

    The industry is also expected to keep growing, particularly in some important areas. Data shows that the worldwide renewable energy sector is expected to be worth over $1.5 trillion by 2025, a compound annual growth rate (CAGR) of 6.1 percent from 2018 to 2025.

    Within this sector, the solar energy industry is projected to reach a value of $223.3 billion by 2026. In that same period, the wind energy industry is expected to be worth $9.1 billion.

    Countries such as China, the US, India and Russia are some of the largest primary energy (taken from natural resources) consumers in the world. China alone accounted for 141.7 exajoules of energy consumption in 2019, compared to 7.84 exajoules in the UK.

    How has the COVID-19 pandemic impacted the energy industry?
    The impact of the coronavirus pandemic has been felt across all shores and in just about every industry. The energy market is no different, and was particularly impacted early on in the pandemic.

    The economic contraction that followed various national and international lockdowns saw growth in the industry grind to a halt. One study estimated a decline in global energy demand by about 5% by the end of 2020. Similarly, demand for oil was predicted to shrink by 9% and gas by 4%.

    However, it’s not all bad news. Despite sharp declines in electricity demand in places such as Europe and India, there are signs of recovery as the pandemic rumbles on. In India, for example, electricity demand in September 2020 was 3.4% above the previous year.

  • #2
    Greets. Thanks for the article. You are right. The power industry is going through massive changes. Some companies deliver an integrated view of global renewable and conventional power data and insights across projects, technologies, and markets. Some thoughts about The profitability of investing in building energy efficiency is investigated using distinct approaches. But we should remember about all investment sources.


    • #3
      Good day. Nowadays, one of the best ways to reduce your energy bills is to use solar energy, which is why Alabama Power gives its customers the opportunity to install solar panels at home and connect them to the public grid. If you are their client, then you can call the alabama power phone number and they will certainly provide you with excellent advice on installing and connecting a solar panel, and will also provide qualified specialists who can do it quickly and efficiently.


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