Thermal power is under a lot of pressure in many advanced countries that have aggressive net-zero and decarbonization goals. Additionally, those countries that have access to reliable low-carbon intensity fuels and renewable energy are on a faster track to retire and migrate away from thermal power. Even though every now and then we hear about a short but critical reliance on thermal power to meet baseload power generation needs to ensure reliability due to the intermittency often experienced with renewable technology.
A key enabler of renewable technology to boost its reliability and availability will be the full deployment of energy storage technologies in a cost-effective manner available for long durations. However, such energy storage projects are yet to mature and are still in a developmental stage. Therefore, until energy storage technologies achieve a cost-competitive point, the use of thermal power will continue to exist in various parts of the world but in differing proportions. In some countries, especially emerging economies that usually have access to vast coal, natural gas, and oil resources, the shift to green technologies will remain slower and largely driven by cost as opposed to pure environmental considerations.
In this context, keeping in mind this market reality, K&A continues to study and evaluate various global markets and their dependence on thermal and fossil power and industrial services. Our global network, market data, regulatory insight gives us the added edge to produce thorough and comprehensive market forecasts and market size estimates for various technologies, components and services for the global energy industry.
We produce detailed SWOT analysis, industry benchmarking, country reports, competitor intelligence and critical market intelligence that enable our clients to get a more in-depth understanding of various international power markets.
Our deliverables are in the form of strategy reports, market forecasts, product competitive analysis, competitor benchmarking, regulatory analysis, and a full-blown market development plan. We compete with a number of blue-chip consulting firms in the energy and power market space but offer much greater domain expertise, primary research capabilities, and cost-competitive options for our energy industry clients.