GITNUXREPORT 2025

Utility Industry Statistics

Global utility industry grows with renewable energy, digitalization, and grid modernization.

Jannik Linder

Co-Founder of Gitnux, specialized in content and tech since 2016.

First published: April 29, 2025

Our Commitment to Accuracy

Rigorous fact-checking • Reputable sources • Regular updatesLearn more

Statistic 1

The global utility industry is projected to reach a value of $4.81 trillion by 2025

Statistic 2

Renewable energy sources accounted for approximately 28% of global electricity generation in 2021

Statistic 3

The U.S. utility sector invested over $120 billion in infrastructure upgrades in 2022

Statistic 4

According to the IEA, the energy sector accounts for nearly 40% of total global CO2 emissions

Statistic 5

In 2022, worldwide electricity access increased to 92%, up from 89% in 2017

Statistic 6

Fossil fuels still represent about 62% of global electricity production

Statistic 7

The average cost of solar photovoltaic (PV) power has decreased by over 82% since 2010

Statistic 8

By 2030, it is estimated that 60% of new utility-scale power installations will be renewable energy sources

Statistic 9

The global hydroelectric capacity stood at approximately 1,330 GW in 2020, representing about 16% of total electricity generation

Statistic 10

In 2021, the U.S. water utilities industry invested around $11 billion in infrastructure renewal and upgrades

Statistic 11

The levelized cost of energy (LCOE) for new solar projects in many regions has fallen below coal plants, often by 50%

Statistic 12

According to BloombergNEF, by 2030, utility-scale solar and wind are expected to comprise over 70% of new power generation capacity in the U.S.

Statistic 13

The global nuclear energy capacity is expected to grow at a CAGR of 2.4% from 2021 to 2030, reaching approximately 460 GW

Statistic 14

The adoption of distributed energy resources (DERs) grew by over 25% globally in 2021, as utilities integrate more decentralized power systems

Statistic 15

The percentage of utility companies aiming to achieve net-zero emissions by 2050 increased to 45% in 2023

Statistic 16

The global energy demand is forecasted to increase by 27% between 2019 and 2040, driven mainly by economic growth in developing regions

Statistic 17

Water used for cooling in thermoelectric power plants accounts for roughly 41% of all freshwater withdrawals in the U.S.

Statistic 18

The share of coal in global electricity generation declined from around 37% in 2010 to about 20% in 2022

Statistic 19

The cost of offshore wind power has dropped by nearly 68% since 2010, making it increasingly competitive with fossil fuels

Statistic 20

The percentage of global electricity generated from biomass was about 3.3% in 2020, with steady growth expected

Statistic 21

According to IEA, if current policies are maintained, the world’s electricity generation from coal will decline by 46% by 2040

Statistic 22

The average capacity factor for wind turbines globally increased from 33% in 2010 to over 40% in 2022, improving efficiency

Statistic 23

The cost of developing new natural gas power plants has decreased by around 25% since 2010, affecting energy generation choices

Statistic 24

In 2022, global electricity generated through rooftop solar projects increased by over 35%, indicating increasing adoption at the consumer level

Statistic 25

The share of energy used for residential purposes in the U.S. reached approximately 22% of total electricity consumption in 2022

Statistic 26

The percentage of global energy consumption supplied by nuclear energy was about 10.4% in 2020, maintaining steady contribution

Statistic 27

Over 80% of the world's population has access to electricity as of 2023, showing significant progress but still leaving around 800 million without reliable power

Statistic 28

The total number of utility-scale solar PV projects globally surpassed 1,500 GW capacity by 2022, reflecting rapid expansion

Statistic 29

The share of energy supplied by wind and solar in the EU reached approximately 40% in 2022, a significant milestone in decarbonization efforts

Statistic 30

The world's largest operational tidal power plant, the Rance Tidal Power Station in France, has a capacity of 240 MW and has been in operation since 1966

Statistic 31

The proportion of renewable energy in Australia's energy mix increased from 10% in 2010 to over 30% in 2022, driven by policy incentives

Statistic 32

The global energy storage market is expected to reach $10.4 billion by 2027, growing at a CAGR of 23.2% from 2020

Statistic 33

The global market for electric thermal storage systems is expected to reach $5.2 billion by 2028, growing at a CAGR of 7.5%

Statistic 34

The number of lithium-ion battery shipments for utility-scale storage increased by 150% from 2020 to 2022

Statistic 35

Advancements in battery technologies are expected to boost energy storage capacity by over 200% by 2030, critical for grid stability

Statistic 36

New utility-scale battery storage projects added approximately 5 GW of capacity worldwide in 2022, a 50% increase from 2021

Statistic 37

The global demand for lithium used in battery manufacturing is projected to increase tenfold by 2040, crucial for energy storage solutions

Statistic 38

The deployment of battery energy storage systems in South Korea increased by 45% in 2021 alone, as part of their smart grid initiatives

Statistic 39

Utility-scale wind power nearly doubled in capacity globally between 2018 and 2022, reaching 837 GW

Statistic 40

Renewable energy investments accounted for about 70% of total global power sector investments in 2022

Statistic 41

In 2022, approximately 75% of U.S. utility companies reported clear strategies for integrating renewable energy into their grids

Statistic 42

The energy efficiency market is projected to reach $436 billion globally by 2029, with a CAGR of 9.4%

Statistic 43

In 2021, the U.S. utility sector's renewable energy capacity addition increased by 33% compared to 2020, totaling about 19 GW

Statistic 44

The global market for hydroelectric turbines is expected to grow at a CAGR of 3.7% from 2021 to 2028, driven by new capacity projects

Statistic 45

Investment in energy efficiency measures accounted for approximately 24% of total global clean energy investments in 2022

Statistic 46

The share of electric heating appliances in residential buildings in Germany increased to 35% in 2022, reflecting increased electrification trends

Statistic 47

Over 90% of utilities in developed countries adopt smart grid technologies

Statistic 48

The global smart meter market size was valued at $14.8 billion in 2020 and is expected to grow at a CAGR of 8.9% through 2028

Statistic 49

The U.S. electricity grid reliability rate was at 99.97% in 2022, ensuring stable power supply for consumers

Statistic 50

Electric vehicle charging infrastructure has grown by over 40% annually in key markets during 2021-2022

Statistic 51

As of 2022, over 50% of North American utilities are actively investing in grid modernization projects

Statistic 52

Digitalization in the utility industry is predicted to generate savings of over $45 billion annually by 2025

Statistic 53

The number of smart homes in the U.S. is projected to reach 63 million by 2025, increasing demand for smart grid technologies

Statistic 54

Power outage costs to the U.S. economy are estimated at $150 billion annually, emphasizing the importance of grid resilience

Statistic 55

The average age of the U.S. electrical grid infrastructure is approximately 35 years, prompting a major modernization push

Statistic 56

Utilities employing AI and machine learning for grid management reported up to 30% reductions in operational costs in recent trials

Statistic 57

The global smart electricity meter market is projected to reach $31 billion by 2027, growing at a CAGR of 10.2%

Statistic 58

The proportion of electric utilities investing in cybersecurity increased by 60% from 2019 to 2022, reflecting rising concerns over cyber threats

Statistic 59

The proportion of U.S. households with smart meters reached over 60% in 2022, enhancing energy management capabilities

Statistic 60

The global market for electric vehicle charging stations is expected to grow from $7.4 billion in 2022 to over $32 billion by 2028, at a CAGR of 26%

Statistic 61

The adoption of virtual power plants (VPP) is projected to grow at a CAGR of 15% through 2030, enabling better management of distributed energy resources

Statistic 62

The average annual expenditure per household on energy efficiency upgrades in the U.S. is around $500, indicating rising consumer investment

Statistic 63

The global market for waste-to-energy technologies is expected to grow at a CAGR of 6.3% through 2027, supporting renewable waste management

Slide 1 of 63

Sources

Our Reports have been cited by:

Trust Badges - Publications that have cited our reports

Key Highlights

The global utility industry is projected to reach a value of $4.81 trillion by 2025
Renewable energy sources accounted for approximately 28% of global electricity generation in 2021
The U.S. utility sector invested over $120 billion in infrastructure upgrades in 2022
Over 90% of utilities in developed countries adopt smart grid technologies
The global smart meter market size was valued at $14.8 billion in 2020 and is expected to grow at a CAGR of 8.9% through 2028
According to the IEA, the energy sector accounts for nearly 40% of total global CO2 emissions
In 2022, worldwide electricity access increased to 92%, up from 89% in 2017
The global energy storage market is expected to reach $10.4 billion by 2027, growing at a CAGR of 23.2% from 2020
Fossil fuels still represent about 62% of global electricity production
The average cost of solar photovoltaic (PV) power has decreased by over 82% since 2010
By 2030, it is estimated that 60% of new utility-scale power installations will be renewable energy sources
The U.S. electricity grid reliability rate was at 99.97% in 2022, ensuring stable power supply for consumers
Utility-scale wind power nearly doubled in capacity globally between 2018 and 2022, reaching 837 GW

The utility industry is on the cusp of a transformative era, with global investments in renewable energy, smart grid technologies, and energy storage poised to reshape electricity generation and consumption by 2025.

Clean and Sustainable Power Generation

The global utility industry is projected to reach a value of $4.81 trillion by 2025
Renewable energy sources accounted for approximately 28% of global electricity generation in 2021
The U.S. utility sector invested over $120 billion in infrastructure upgrades in 2022
According to the IEA, the energy sector accounts for nearly 40% of total global CO2 emissions
In 2022, worldwide electricity access increased to 92%, up from 89% in 2017
Fossil fuels still represent about 62% of global electricity production
The average cost of solar photovoltaic (PV) power has decreased by over 82% since 2010
By 2030, it is estimated that 60% of new utility-scale power installations will be renewable energy sources
The global hydroelectric capacity stood at approximately 1,330 GW in 2020, representing about 16% of total electricity generation
In 2021, the U.S. water utilities industry invested around $11 billion in infrastructure renewal and upgrades
The levelized cost of energy (LCOE) for new solar projects in many regions has fallen below coal plants, often by 50%
According to BloombergNEF, by 2030, utility-scale solar and wind are expected to comprise over 70% of new power generation capacity in the U.S.
The global nuclear energy capacity is expected to grow at a CAGR of 2.4% from 2021 to 2030, reaching approximately 460 GW
The adoption of distributed energy resources (DERs) grew by over 25% globally in 2021, as utilities integrate more decentralized power systems
The percentage of utility companies aiming to achieve net-zero emissions by 2050 increased to 45% in 2023
The global energy demand is forecasted to increase by 27% between 2019 and 2040, driven mainly by economic growth in developing regions
Water used for cooling in thermoelectric power plants accounts for roughly 41% of all freshwater withdrawals in the U.S.
The share of coal in global electricity generation declined from around 37% in 2010 to about 20% in 2022
The cost of offshore wind power has dropped by nearly 68% since 2010, making it increasingly competitive with fossil fuels
The percentage of global electricity generated from biomass was about 3.3% in 2020, with steady growth expected
According to IEA, if current policies are maintained, the world’s electricity generation from coal will decline by 46% by 2040
The average capacity factor for wind turbines globally increased from 33% in 2010 to over 40% in 2022, improving efficiency
The cost of developing new natural gas power plants has decreased by around 25% since 2010, affecting energy generation choices
In 2022, global electricity generated through rooftop solar projects increased by over 35%, indicating increasing adoption at the consumer level
The share of energy used for residential purposes in the U.S. reached approximately 22% of total electricity consumption in 2022
The percentage of global energy consumption supplied by nuclear energy was about 10.4% in 2020, maintaining steady contribution
Over 80% of the world's population has access to electricity as of 2023, showing significant progress but still leaving around 800 million without reliable power
The total number of utility-scale solar PV projects globally surpassed 1,500 GW capacity by 2022, reflecting rapid expansion
The share of energy supplied by wind and solar in the EU reached approximately 40% in 2022, a significant milestone in decarbonization efforts
The world's largest operational tidal power plant, the Rance Tidal Power Station in France, has a capacity of 240 MW and has been in operation since 1966
The proportion of renewable energy in Australia's energy mix increased from 10% in 2010 to over 30% in 2022, driven by policy incentives

Clean and Sustainable Power Generation Interpretation

Despite renewable energy soaring to over 28% of global electricity and costs for solar and wind plummeting by over 68-82%, the fossil fuel industry still accounts for 62% of power generation—highlighting how, in the utility sector's race toward decarbonization, we're still stuck in a high-stakes game of catch-up with climate change.

Energy Storage Solutions and Battery Systems

The global energy storage market is expected to reach $10.4 billion by 2027, growing at a CAGR of 23.2% from 2020
The global market for electric thermal storage systems is expected to reach $5.2 billion by 2028, growing at a CAGR of 7.5%
The number of lithium-ion battery shipments for utility-scale storage increased by 150% from 2020 to 2022
Advancements in battery technologies are expected to boost energy storage capacity by over 200% by 2030, critical for grid stability
New utility-scale battery storage projects added approximately 5 GW of capacity worldwide in 2022, a 50% increase from 2021
The global demand for lithium used in battery manufacturing is projected to increase tenfold by 2040, crucial for energy storage solutions
The deployment of battery energy storage systems in South Korea increased by 45% in 2021 alone, as part of their smart grid initiatives

Energy Storage Solutions and Battery Systems Interpretation

The explosive growth in global energy storage—from a burgeoning $10.4 billion market and a 150% increase in lithium-ion shipments to a tenfold surge in lithium demand—signals a pivotal shift toward a more resilient, grid-stabilizing future where batteries are as vital as the electrons they store.

Renewable Energy Development and Investment

Utility-scale wind power nearly doubled in capacity globally between 2018 and 2022, reaching 837 GW
Renewable energy investments accounted for about 70% of total global power sector investments in 2022
In 2022, approximately 75% of U.S. utility companies reported clear strategies for integrating renewable energy into their grids
The energy efficiency market is projected to reach $436 billion globally by 2029, with a CAGR of 9.4%
In 2021, the U.S. utility sector's renewable energy capacity addition increased by 33% compared to 2020, totaling about 19 GW
The global market for hydroelectric turbines is expected to grow at a CAGR of 3.7% from 2021 to 2028, driven by new capacity projects
Investment in energy efficiency measures accounted for approximately 24% of total global clean energy investments in 2022
The share of electric heating appliances in residential buildings in Germany increased to 35% in 2022, reflecting increased electrification trends

Renewable Energy Development and Investment Interpretation

As the utility industry turbocharged by renewable investments and efficiency gains surges toward a cleaner, electrified future, it’s clear that the wind's not just blowing stronger — it’s redefining the very power grid.

Smart Grid Technologies and Infrastructure

Over 90% of utilities in developed countries adopt smart grid technologies
The global smart meter market size was valued at $14.8 billion in 2020 and is expected to grow at a CAGR of 8.9% through 2028
The U.S. electricity grid reliability rate was at 99.97% in 2022, ensuring stable power supply for consumers
Electric vehicle charging infrastructure has grown by over 40% annually in key markets during 2021-2022
As of 2022, over 50% of North American utilities are actively investing in grid modernization projects
Digitalization in the utility industry is predicted to generate savings of over $45 billion annually by 2025
The number of smart homes in the U.S. is projected to reach 63 million by 2025, increasing demand for smart grid technologies
Power outage costs to the U.S. economy are estimated at $150 billion annually, emphasizing the importance of grid resilience
The average age of the U.S. electrical grid infrastructure is approximately 35 years, prompting a major modernization push
Utilities employing AI and machine learning for grid management reported up to 30% reductions in operational costs in recent trials
The global smart electricity meter market is projected to reach $31 billion by 2027, growing at a CAGR of 10.2%
The proportion of electric utilities investing in cybersecurity increased by 60% from 2019 to 2022, reflecting rising concerns over cyber threats
The proportion of U.S. households with smart meters reached over 60% in 2022, enhancing energy management capabilities
The global market for electric vehicle charging stations is expected to grow from $7.4 billion in 2022 to over $32 billion by 2028, at a CAGR of 26%
The adoption of virtual power plants (VPP) is projected to grow at a CAGR of 15% through 2030, enabling better management of distributed energy resources
The average annual expenditure per household on energy efficiency upgrades in the U.S. is around $500, indicating rising consumer investment

Smart Grid Technologies and Infrastructure Interpretation

With over 90% of utilities embracing smart grid tech and global markets projected to nearly double by 2027, it’s clear that the utility industry is not just switching on to modernization but powering a smarter, more resilient future—proving that in the race for energy efficiency and innovation, staying gridlocked is no longer an option.

Waste-to-Energy and Alternative Technologies

The global market for waste-to-energy technologies is expected to grow at a CAGR of 6.3% through 2027, supporting renewable waste management

Waste-to-Energy and Alternative Technologies Interpretation

As waste-to-energy technologies surge at a steady 6.3% CAGR through 2027, the utility industry is quietly turning trash into a renewable treasure trove of sustainable power.