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Second annual Enterprise Power Census highlights rising demand for renewables, strategic focus and expectations of upper costs and volatility
HOUSTONTexas — ENGIE Assets, a number one business electrical energy supplier and America’s Power Greentailer™, in collaboration with Power Analysis Consulting Group (“ERCG”), this week introduced the discharge of the second annual North American Enterprise Power Census. This complete report affords priceless market insights and opinions from over 100 aggregators, brokers and consultants (ABCs), representing roughly 1.07 million end-use buyer areas, reinforcing ENGIE Assets’ place as a thought chief within the Renewable Power area.
As an affiliate of ENGIE North America (ENGIE) and a part of the ENGIE Group, a world chief within the Internet Zero power transition, ENGIE Assets goals to ship journey-specific insights from various companies throughout numerous geographical areas, income brackets and enterprise fashions.
“As the energy landscape evolves, accurate supplier data and industry statistics are crucial for shaping a sustainable energy strategy,” stated J.D. Burrows, Vice President of Buyer Analytics and Engagement at ENGIE Assets. “Our goal is to empower businesses with actionable insights that drive informed decisions and the adoption of green energy solutions.”
Based mostly on months of complete analysis, ENGIE’s annual Enterprise Power Census report highlights the evolving power sector and the rising significance of strategic power administration for companies of all sizes. Survey contributors embrace a spectrum of roles, spanning from homeowners and C-Suite executives to gross sales and operation managers. The 2024 Enterprise Power Census identifies a number of mega-trends that point out heightened volatility and uncertainty within the power market, together with:
Pattern One — Shifting Strategic Views — 57% of respondents, up from 43%, within the earlier 12 months, imagine that the strategic significance of power has grown to achieve a degree of equilibrium. This transformation aligns with the stabilization of power costs and rising confidence within the effectiveness of current power methods.
Pattern Two — Forecast of Rising Costs and Volatility — 40% of respondents anticipate energy and pure gasoline costs and volatility to extend, suggesting a necessity for extra strong danger administration methods.
Pattern Three — The Rise in Inexperienced Premium Acceptance — There is a rise in willingness to pay a premium for Inexperienced Power. 62% of consumers are prepared to pay a small premium, in comparison with 56% in 2023, indicating a rising acceptance of inexperienced power options. 12 months to 12 months, we’ve got additionally seen a lower from 28% to 18% of survey contributors who stated their clients aren’t prepared to pay any premium in any respect for renewable power. These tendencies could possibly be a sign of the way forward for power and a rise in firm initiatives to transition to net-zero emissions.
Pattern 4 — From Coverage to Motion: Strengthening Regulatory Help — Respondents expressed a notable insecurity within the regulators’ capacity to construction markets conducive to fostering three ideas: competitors, transparency and innovation. Regardless of the overarching sentiment, there’s a marked enchancment in attitudes in comparison with 2023, hinting at a rising perception that regulatory help is on an upward trajectory, albeit slowly.
Pattern 5 — Driving Forces: Power’s Impression on Mergers and Acquisitions — 45% of respondents reported that power costs and volatility are much less of a disruptive pressure in deterring or delaying main initiatives resembling mergers, acquisitions and expansions in comparison with earlier years. This shift signifies a stabilizing impact of the power market on strategic company decision-making.
Pattern Six — From Knowledge to Selections: Empowering Stakeholders with Market Insights — 48% of Texas respondents imagine that present market info is insufficient for making knowledgeable selections, surpassing the nationwide dissatisfaction fee by 11%. There’s a clear indication that market contributors are advocating for extra and higher power market info.
“Too often, we hear from people outside our industry telling us what business customers are looking for in their energy solutions,” stated Younger KimPrincipal at Power Analysis Consulting Group. “It is about time that our industry speaks for itself. I am proud to partner with ENGIE Resources to cover the most pressing energy issues affecting the business community and to reveal key insights that our industry can use.”
By way of the 2024 Enterprise Power Census clients and companions can discover observations that affirm the technique to help the event and supply of inexperienced power options for energy and gasoline clients.
To view the entire survey report, please go to www.engie-na.com/2024census.
Press launch from ENGIE North America.
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