Energy and Power
In the wake of depleting natural resources, the energy and power industry has seen rapid growth. Long gestation periods and high entry barriers for this capital intensive industry make cost reduction imperative. The following are the factors that will significantly impact the growth of companies in this domain:
Adoption of innovative technologies:
Identifying and adopting alternate materials can go a long way in moving away from expensive and sparse resources, and thus reduce cost of production and supply. New technologies are also the means to reduce overall carbon footprint.
Loss Reduction:
A significant amount of energy produced today is lost at the time of generation, transmission and storage. The cost of production can be reduced drastically by identifying new designs and solutions that reduce such losses and optimize production and distribution of energy.
Obsolescence Management:
Increasing the lifespan of capital equipment has an obvious impact on ROI. Value engineering and reverse engineering of obsolete products can increase equipment utilization and reduce cost of operations.