Looking for knowledge and key business information on the energy industry?
TechnoFunc brings to you an energy industry overview, business model, value chain, competitive landscape, and latest trends. The Energy Industry is the totality of all of the industries involved in the production and sale of energy, including fuel extraction, manufacturing, refining and distribution. Modern society consumes large amounts of fuel, and the energy industry is a crucial part of the infrastructure and maintenance of society in almost all countries. Energy is related to human development in three important ways: as a motor of economic growth, as a principal source of environmental stress, and as a prerequisite for meeting basic human needs. Each energy fuel alternative has a different combination of economic, political, technological, social, and environmental attributes. In this section we will explore various segments of energy and provide you with comprehensive knowledge base on Energy.
Learn the various dynamics and challenges in the domain of the energy industry. Quickly enhance your business acumen and talk like an expert and impress your stakeholders in your next meeting!
The energy is comprised of companies involved in the exploration and development of oil or gas reserves, drilling, and refining and integrated power companies working on renewable and coal energy. This industry locates fuel resources, processes them, and finally involved in the production and sale of energy. Access to affordable energy is fundamental to human development, and economic growth as without electricity and power, human opportunities are significantly constrained.
The history of human culture can be viewed as the progressive development of new energy sources. Developments in the energy industry have resulted in unparalleled transformations of society. It is because of the availability of energy sources that humans have been able to increase comfort, longevity, and affluence, as well as their population apart from unprecedented growth. Each energy fuel alternative has also impacted different combinations of economic, political, technological, social, and environmental attributes.
Energy is essential to life and the key to human progress. Energy is the common link between the living and non-living realms of the universe, and thus provides an organizing intellectual theme for diverse disciplines. Energy growth is directly linked to well-being and prosperity across the globe. Meeting the growing demand for energy in a safe and environmentally responsible manner is a key challenge.
The energy industry is going through the biggest transformation in history. The impact of energy production and consumption on the environment is varied and mankind has started understanding the importance of improving energy efficiency and ensuring energy security for all. The current trend is to explore sustainable energy options that can provide power to future generations.
This is the traditional industry based on the collection and distribution of firewood, the use of which, for cooking and heating, is particularly common in poorer countries. People have needed energy in some form for their everyday lives for hundreds of years. Primitive man (about 1 million years B.C.) used fire to cook food and over the period of human development. The energy industry was probably born the day when our ancient ancestors first discovered that they could keep themselves warm and cook food with fire.
These industries include petroleum industries (oil companies, petroleum refiners, fuel transport and end-user sales at gas stations) coal industries (extraction and processing), and the natural gas industries (natural gas extraction, and coal gas manufacture, as well as distribution and sales). Most of the energy we use today is being obtained from coal and petroleum. We also have nuclear power plants. But these energy sources are limited as only finite quantities of coal; petroleum and gas exist underground or in oceans.
The modern electric power industry covers the generation, transmission, distribution, and sale of electric power to the general public and industry. The commercial distribution of electric power started in 1882 when electricity was produced for electric lighting. In the 1880s and 1890s, growing economic and safety concerns lead to the regulation of the industry. What was once an expensive novelty limited to the most densely populated areas, reliable and economical electric power has become an essential aspect for normal operation of all elements of developed economies!
Nuclear power is the use of sustained nuclear fission to generate heat and electricity. Nuclear power plants provide about 6% of the world's energy and 13–14% of the world's electricity, with the U.S., France, and Japan together accounting for about 50% of nuclear-generated electricity. In 2007, the IAEA reported there were 439 nuclear power reactors in operation in the world, operating in 31 countries.