This segment is composed of establishments that operate fossil fuel powered electric power generation facilities.
Companies in this segment operate generation plants to provide electricity to transmission and distribution systems.
There are various types of renewable energy in this particular segment. These include wind, solar, geothermal, hydroelectricity, and biomass.
The Energy industry is Concentrated. The production in this industry is dominated by a many large firms that are capable of shaping the industry’s direction and price levels.
Primary Demand Drivers
- Commercial, government, and residential needs for electrical power (which mainly depend on economic activity and population growth)
- Government regulations
- Fuel costs
From the Blog
The coal industry is undoubtedly one of the world’s largest energy sources. According to statista.com, coal has been the second-largest energy source consumed in the world since at least 2019. The sector accounted for over a quarter of the energy consumption in 2022. Along with oil, natural gas, and petroleum, coal is considered a fossil fuel.
As the world pivots away from fossil fuels and towards a sustainable future, one intriguing option is geothermal energy. By using fracking techniques developed by the oil and gas companies, companies are able to harvest heat from the Earth to power generators connected to the power grid. Geothermal energy is a nearly unlimited power source; according to scientists at Fervo Energy, there is enough geothermal energy in the United States alone to power the country several times over.
- SelectUSA (Date Accessed: 6/1/2017)