Energy efficiency expected to gain prominence across industries
The early part of 2009 may see renewable energy projects suffer because of the death of debt financing, but such projects are expected pick up in the latter part of the year due to anticipated government support in form of affirmative policy and tax credits,
Singapore– Industry trends show a continued see a focus on efficiency and fuel savings due to a sluggish economy and history of high electricity prices, according to Frost & Sullivan Asia-Pacific director of energy & power systems practice Ravi Krishnaswamy. As a result, he predicts that products from light bulbs to turbines with energy efficient features will be in demand.
"Currently, low oil prices will be a challenge to justify some green energy investments but the situation will change in the not too distant future," Krishnaswamy said. "Newly elected US President Barack Obama's final policy on climate change and Kyoto Protocol will affect the energy & power sector globally," he adds.
According to Krishnaswamy, the early part of 2009 may see renewable energy projects suffer because of the death of debt financing brought on by troubles at large green energy investors like Lehman Brothers, Wachovia, AIG, and Merrill Lynch. However, he expects such projects to pick up in the latter part of the year, due to anticipated government support in form of affirmative policy and tax credits, making alternate energy one of the few growth sectors in 2009.
"Energy efficiency will continue to gain prominence across the end user sectors of industrial, commercial, and residential. Governments are likely to support these measures because of avoided cost of asset creation in new generation capacity and also proven benefit in terms of emission reduction," he added.
Other areas that may continue to show growth include alternate energy technologies such as solar and fuel cells, metals like lithium and zinc used in the development of energy storage technologies, clean coal research as a result of carbon tax by the new U.S. administration, and the biomass and waste to energy sector.
For more information, visit www.frost.com
Control Engineering News Desk
Register here .
Case Study Database
Get more exposure for your case study by uploading it to the Plant Engineering case study database, where end-users can identify relevant solutions and explore what the experts are doing to effectively implement a variety of technology and productivity related projects.
These case studies provide examples of how knowledgeable solution providers have used technology, processes and people to create effective and successful implementations in real-world situations. Case studies can be completed by filling out a simple online form where you can outline the project title, abstract, and full story in 1500 words or less; upload photos, videos and a logo.
Click here to visit the Case Study Database and upload your case study.
Annual Salary Survey
In a year when manufacturing continued to lead the economic rebound, it makes sense that plant manager bonuses rebounded. Plant Engineering’s annual Salary Survey shows both wages and bonuses rose in 2012 after a retreat the year before.
Average salary across all job titles for plant floor management rose 3.5% to $95,446, and bonus compensation jumped to $15,162, a 4.2% increase from the 2010 level and double the 2011 total, which showed a sharp drop in bonus.