Framingham - Key predictions presented and analyzed in this study include renewable energy will compete as a leading source of new electrical capacity in the U.S.

Other avenues include:

- IT systems to measure and manage a company's carbon footprint

- Software applications to enable participation in carbon trading markets

- Renewable energy technologies, especially wind, but also central solar Technologies such as in-home displays that enable energy efficiency programs.

"In an environment of increasing energy demand, rising and volatile energy prices, and policymaker concern over energy independence and security, we predict that energy companies will increase their technology investments to enable initiatives from smart metering and the intelligent grid to enhanced reservoir characterization and higher fidelity seismic imaging," said Rick Nicholson, vice president of Research, Energy Insights.

Key predictions presented and analyzed in this study include:

- Intelligent grid initiatives will leverage existing investments and target specific problem areas

- Renewable energy will compete as a leading source of new electrical capacity in the U.S.

- Carbon trading markets will begin to take off in North America, eventually surpassing Europe

- High performance computing will be driven to technical limits by seismic processing demands.