The power sector is witnessing significant changes. As 2019 draws to a close, Harminder Singh, director of power at data and analytics company GlobalData, looks at the key trends that will shape the industry in 2020, ranging from electric vehicles to corporate power purchase agreements (PPAs).

Electric vehicles

“The adoption of electric vehicles [EVs] is set to continue on the steep trajectory witnessed in the last few years. The global EV fleet, which stood at over 5.1 million in 2018, is expected to reach around 130 million by 2030 as per International Energy Agency [IEA] forecasts.

“Governments across the world are setting targets for deployments of EVs and these policy signals are encouraging industry stakeholders to invest across the EV supply chain.

“In addition, large power utilities such as EDF, E.ON and Enel in Europe have been investing in EV charging station infrastructure, and this market is witnessing consolidation —