Energy Trends in 2019
Some of the top energy trends in 2019 are centred around renewable energy. An ever-increasing group of companies and countries are seeing the importance of investing in renewable clean energy. Investing in clean energy can not only help your image, but the more countries and companies encourage and shift toward renewable energy investment the quicker the costs will come down. By the time the costs come down, all the entities that invested will be at the forefront of a new burgeoning industry that has created thousands of jobs and reaping the benefits of those jobs. China has relatively recently canceled plans to build more than a hundred coal-fired power-plants, and it has plans to increase investment in renewable energy by $361 Billion by 2020 which could create upwards of thirteen million new jobs. China and its companies are going to be at the forefront, and that enormous investment is going to have tremendous returns. To fight for a place at the table, you should learn about the trends happening now.
Energy Storage is almost a no-brainer, to fix the sporadicity issues that are frequently brought up in the discussion surrounding the topic of renewables. If there’s a reliable storage method then the public could have energy even when the conditions aren’t optimal for energy creation; for example, the public will have solar power even on cloudy days. Batteries are the most common technology used in renewable energy, and they are being used more and more, both in residential and grid-wide scales. Storage is already projected to be a key component of the future move towards clean energy.
Microgrids are local energy grids that can operate either within a larger traditional grid or on their own. They can provide energy independence, efficiency, and security during emergencies. Pairing microgrids controllers with AI or machine learning allows for uninterrupted adaptation and operational enhancements. Deployment of microgrids has become much quicker, and new software is allowing for expedited designs. This versatile technology should certainly be on anyone’s investment to-do list if they are or want to get involved in renewables.
Blockchain seems like an unlikely candidate for a renewable energy trend since it was primarily developed as a way to record cryptocurrency transactions. It works as a decentralized system that functions using a peer-to-peer network to record the data. The potential for blockchain in the energy industry is that it can theoretically abolish the need for electricity suppliers. This purge can help make the industry more democratic, reducing inequality and inefficiency, and it can encourage energy consumers to buy and sell from other consumers directly. We can also pair blockchain with the “Internet of Things,” IoT, in order for devices to independently buy and sell energy at pre-set times which can improve energy system settings in real-time and can help analyze and track the performance of energy-consuming devices.
Grid parity happens when an alternative energy can produce power at a cost and performance level equal to or less than the traditional production methods. Solar and wind power have both reached parity in price and in performance in many regions, and further technological development is only increasing their effectiveness.
Large numbers of companies and governments, both national and local, are seeking to reduce their emissions and enact climate action plans to reduce their environmental impacts. Globally over a hundred cities reported that at least 70% of their energy is clean, and forty are currently running completely on renewable energy. A hundred and fifty-eight companies have also committed to switching to 100% renewable energy. Large commitments like those are helping to further develop clean technology and further the cause for renewable energy. Upwards of a billion people on Earth live without electricity and hundreds of millions live in regions where electricity is unreliable or too costly. These numbers are astronomically high, and because of that fact achieving comprehensive access to energy is high on the list of priorities. The changes that are transpiring in the clean energy field could offer a solution. Some of the trends we’ve previously mentioned, like microgrids. These innovations could drastically lower the cost and could offer energy to those who have never had it before.
The world is changing in all sorts of ways, and the changes currently gripping the energy industry could very well change things for the better for billions of people. If you have any questions about the latest energy trends; contact Mindtrades and we can discuss the best options for you and your company to make the right investments.