A Market research company Frost & Sullivan announced the release of its Global Power Industry Outlook report, which forecasts the solar and wind sources of energy to dominate power generation additions through to 2021.
According to the report, the global power industry is expected to invest $2.2 trillion in energy generation between 2017 and 2021, reports ESI-Africa.
Among the main highlights and growth opportunities are expected investments of over $400 billion annually in generation capacity.
Total investments in solar generation over the forecast period will reach $603.4 billion and in wind generation $553.7 billion.
The report also highlights that as the renewable and distributed energy markets mature, a large installed capacity of equipment will need to be serviced, offering attractive growth prospects within the operations and maintenance sector.