More Power to the Future: Industry Trends in Electrical Power and Energy [Leader's Corner

Abstract

Discusses key trends in the power engineering market. The electrical power and energy industry is a cornerstone of a prosperous society because almost every crucial economic and social function depends on the secure and reliable operation of the electrical power and energy infrastructures. The projections are that the world’s total energy consumption will double by 2050, and electrical power and energy represent a huge part of that growth. Although major reductions in energy usage have been reached through energy-efficiency programs and technologies, the need for electrical energy will continue to grow (e.g., electrical transportation, data centers, and smart cities with increased electrical energy needs) and will be accompanied by population growth.