The Utilities industry refers to electricity, water & sewerage services and natural gas consumed by the general public, schools, hospitals, agriculture, factories and other commercial establishments- is one of the largest and fastest growing industries in the world.
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The Utilities industry refers to electricity, water & sewerage services and natural gas consumed by the general public, schools, hospitals, agriculture, factories and other commercial establishments- is one of the largest and fastest growing industries in the world. While these services are provided by the national, state or municipal governments or by cooperative bodies in some regions, there are others where these services are provided by the private sector.
Electric utilities is the chief segment of the global utilities market. The demand for utilities is mainly driven by rising populations and economic growth, particularly in developing countries. Within electric utilities, a major shift that is gaining momentum is towards the energy storage in batteries. The key companies in the electric power generation business are majorly using large Li-ion batteries to store solar energy during daylight. These batteries are designed to absorb solar power and feed it back to the grid, having the capacity to store enough energy for serving as a back-up in the case of a fuel shortage. Thus, the need for huge capital-intensive power generation plants is minimized, leading to enhanced distribution and transmission efficiencies with reduced operational costs.