Green initiatives to drive IT spending in 2008

Climate-focused energy policies, concerns over climate change and increasing attention by investors in sustainability will drive energy companies to increase investments in a range of new technologies, research predicts.

Energy Insights today released its annual Worldwide Energy Industry 2008 Top 10 Predictions, suggesting that technology will increasingly be used to help firms go green.

The report said that IT systems will be used to measure and manage a company's carbon footprint.

Energy Insights also predicts that high performance computing will be driven to technical limits by "seismic processing demands".

The study expects growth in the popularity of software applications that enable participation in carbon trading markets, and technologies such as in-home displays that enable energy efficiency programmes.

"Our environment is seeing increasing energy demand, rising and volatile energy prices, and policymaker concern over energy independence and security," said Rick Nicholson, vice president of research at Energy Insights.

"Energy companies will therefore increase their technology investments to enable initiatives from smart metering and the intelligent grid to enhanced reservoir characterisation and higher fidelity seismic imaging."