In 2019, the multiyear pattern of record-breaking utility capital expenditures amid stagnant load growth continued in the power industry. And it shows few signs of changing as the need to upgrade aging infrastructure, digitize, and secure the grid against natural and manmade disasters continues.

Natural gas continued to dominate the power generation mix, and wind and solar capacity continued to rise. Renewables, as a whole, surpassed coal-fired plants’ share for the first time. And the rush to deploy battery storage surged as battery costs fell sharply. As we move into a new decade, many power and utility companies are not only boosting their own decarbonization commitments and efforts, but they’re also taking on the mantle of leadership in the economy-wide clean energy transition. In the coming years, we expect to see these efforts intensify and bring new opportunities for customer engagement and growth.