Nikhil Kaitwade, Future Market Insights, India, examines the consumption of renewable energy in North America, specifically its use in transport, packaging, and agriculture.
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ith new promises and growth paths ahead, will renewable energy prove to be muchneeded salvation for humanity? The answer to this question is being researched and debated across the globe. As the debate on combatting climate change and saving world resources continues, administrations worldwide are actively encouraging the use of renewable energy across every domain. The renewable energy industry has remained quite resilient through the outbreak of COVID-19. With decreasing costs of resources and rapid technological advancements, the sector has emerged as the new power source application, especially in the automotive and packaging industry. Despite suffering from a decline during 4Q20 from supply chain constraints, the renewable energy industry is expected to witness new tailwinds with the growing adoption of green technology in the automotive industry. When it comes to renewable energy, the US is among one of the largest and most attractive markets across the globe. According to the International Energy Agency (IEA), the US energy sector was valued at US$350 billion in 2018, becoming the second largest in the world. With the US being home to a thriving renewable energy industry, North America is one step ahead when it
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ENERGY GLOBAL WINTER 2021
