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09 Jan 2008 05:01:07

Technology 'to be driven' by green issues



Technology 'to be driven' by green issues
Technology investment among energy companies will be driven in 2008 by increased awareness in issues concerning the environment and climate change, according to a new report.

Independent research firm Energy Insights predicted that the year ahead would likely see energy companies focusing on climate-based policies and investing in sustainable energy and information technologies in response to increased consumer and business concerns with green issues,

Rick Nicholson, vice president of research at Energy Insights, said: "In an environment of increasing energy demand, rising and volatile energy prices, and policymaker concern over energy independence and security, we predict that energy companies will increase their technology investments to enable initiatives from smart metering and the intelligent grid to enhanced reservoir characterization and higher fidelity seismic imaging."

Among these investments, Energy Insights expects to see more companies implementing IT systems to measure their carbon footprint and software applications that allow them to participate in carbon trading schemes.

The advisory firm said that 2008 would also most likely see increased investment in renewable energy technologies such as wind and solar, as they compete to become a leading source of new electrical capacity in Europe and the United States.ADNFCR-1235-ID-18420392-ADNFCR


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