Report: Shore Power to Become Most Impactful Tool in Making Ports More Energy Efficient

Navigant Research says the market for shore power utility electricity revenue in port operations will grow by $302.7 million by 2024. 

A new report by Navigant Research forecasts that shore power will become the "most impactful tool in making ports more energy efficient."

The organisation attributes its projection to existing and growing regulatory requirements in places such as the European Union (EU) and California, as well as the technology's "enormous associated environmental improvements."

Navigant Research projects expected growth in the global market for shore power utility electricity revenue in port operations of $302.7 million within the next decade, from $32.0 million in 2015 to $334.7 million in 2024.

"Shore power equipment suppliers are expected to see an increase in market opportunities over the forecast period, particularly in these favourable regulatory environments and the emerging markets in Asia Pacific," stated Navigant Research.

Navigant Research's report is said to examine the energy efficient port operations market, focussing specifically on shore power and natural gas drayage trucks, as well as providing an analysis of the drivers for energy-efficient technologies used in port operations.

"Different technologies and strategies are providing ports with the capability to drastically improve energy efficiency and become more sustainable," explained Navigant Research.

"These include the use of shore power, upgrading or retrofitting cargo equipment to run on electricity or natural gas, and incentive programs designed to encourage reduced and cleaner fuel usage."

The report comes at a time of polarized opinion on the future of shore power, with some ports continuing to spend millions of dollars on the technology as part of their emissions reduction strategy, while other see it as expensive and ineffective.

In May, James Newsome, president and CEO of the South Carolina Ports Authority, said shore power "has really been rendered as a last-generation solution at most major ports", prompting several industry players to voice their support for the technology.