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."
Molybdenum ditelluride is a two-dimensional material that can be easily stacked into multiple layers to create a memory cell
New light-guiding nanoscale device can control and monitor a nanoparticle trapped in a laser beam with high sensitivity
Optical traps are scientific instruments in which a focused laser beam is used to exert an attractive or repulsive force on a microscopic object to hold it in place
Scientists estimate that the exoplanet has already lost up to 35 per cent of its mass over its lifetime
The observations were made using the Atacama Array in the Chilean desert