FUELING CHANGE IN AMERICAN ENERGY
April 19, 2019
As in every sector, technology and consumer behavior are changing industries. None more so than the energy sector.
The increasing demand for renewable energy, electric vehicles, and air conditioning are all helping to shape the future. But many of the goliaths of the energy world have been creeping slowly towards innovation. They are out-of-pace with the technology and agile new market entrants coming onto the scene. Over the next thirty years, the sector is likely to change dramatically from what it is today, in almost all areas of operation.
“Ohio has the most at stake”
When considering the impact on America’s energy hubs, Ohio has the most at stake. Thanks to Ohio’s access to vast feedstocks, beneficial weather patterns and proximity to high energy-using customers, it has recently attracted over $70 billion in new energy sector investments and given the mantle of “The Center of American Energy Transformation”. But these market-, consumer- and technology-driven changes could have a crucial impact on their national standing, all depending on how the industry players respond and innovate. The energy industry is one of the last frontiers for innovation long overdue. So, the industry is now facing the moment of truth – disrupt itself or be disrupted.