In a new study, Energy Goes Green, released by BDO, energy sector CFOs reported that solar power will be the most dominant form of alternative energy in the United States by 2023.
The study details forces driving the transition towards alternative energy sources. The survey features the thoughts of 100 CFOs at oil and gas and power generation companies, revealing that energy executives are focused on striking a balance between navigating short-term uncertainty and volatile markets, but also planning for a green future.
The survey found that 38 percent of both oil and gas and power generation CFOs say solar power will be the most dominant form of alternative energy in the U.S. by 2023.
The oil and gas industry are seeing the double green benefit of solar because of its renewable nature and the price of solar going down tremendously.
“This report showed us everyone’s thinking the same thing, regardless of the sub-sector of energy they’re in,” Clark SackschewskySolar Magazine Interviewee Avatar, BDO’s Natural Resources practice lead, told Solar Magazine.
While switching to solar may seem outside of the range of oil and gas companies, solar is also much easier to come across. Sackschewsky said oils were never easy to get to, so to have a renewable source that’s readily available without needing to run new lines is extremely valuable.