NAICS 221119 - Other Electric Power Generation
This U.S. industry comprises establishments primarily engaged in operating electric power generation facilities (except hydroelectric, fossil fuel, nuclear). These facilities convert other forms of energy, such as solar, wind, or tidal power, into electrical energy. The electric energy produced in these establishment is provided to electric power transmission systems or to electric power distribution systems.
Industry trends:
NAICS 221119, which covers "Other Electric Power Generation," encapsulates diverse energy generation sources beyond conventional fossil fuels, such as wind, solar, geothermal, and biomass. A key qualitative trend in this industry is the increasing shift towards renewable energy driven by both regulatory policies and consumer demand for sustainable power sources. Governments worldwide are implementing aggressive carbon reduction goals, leading to heightened investment in green energy initiatives.
Emerging technologies such as advanced energy storage systems, smart grids, and enhanced photovoltaic (PV) efficiency are critical in transforming the sector. There is a growing emphasis on digitalization and the integration of artificial intelligence to optimize energy distribution and minimize waste.
Looking ahead, forecasts suggest a robust expansion in renewable capacity. Solar and wind power are expected to be significant contributors, with substantial investments predicted in offshore wind projects. Additionally, the rapid decline in the cost of renewables and advancements in battery storage technology will likely expedite the transition from traditional to renewable energy sources, positioning the industry for accelerated growth in the coming years.
This industry is comprised of:
Electric power generation, (except fossil fuel, hydroelectric, nuclear)
Electric power generation, solar
Electric power generation, tidal
Electric power generation, wind
Power generation, electric (except fossil fuel, hydroelectric, nonhazardous solid waste, nuclear)
Power generation, solar electric
Power generation, tidal electric
Power generation, wind electric
This report includes the ability to segment your Industry by:
- Region
- Employees
- Net Sales
- Company Age
- Total Assets
- Ownership Type
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