An increasing number of countries, companies and regions are embracing sustainable energy generation and the landscape is rapidly evolving. Here are 6 renewable energy trends to watch in the coming year. Renewable energy is booming in China.Getty Energy storage plays an important role in balancing power supply and demand, and is key to tackling the intermittency issues of renewable energy. Pairing a storage system with a renewable energy source ensures a smooth and steady power supply, even when weather conditions are not optimal for energy generation. Batteries are the most common storage devices used in renewable energy systems and their use is increasing on both the residential and grid-wide scale.
Liberal party donor and coal plant owner Trevor St Baker is proposing with the help of his mates in government to build two new coal power stations in Australia at the expense of taxpayers. However, the big four banks and the big three energy companies are not having a bar of it. Indeed the majority of Australia's energy companies are working towards a very different future for the country's energy system, a future powered by clean, renewable energy. There are now at least nine studies conducted during the decade that have analysed how Australia can move from an electricity system based on polluting coal and gas to one powered by the sun, wind and waves. The Australian Energy Market Operator (AEMO) – the body tasked with making sure we have energy when we need it – found there were "no fundamental limits to 100% renewables", and that the current standards of the system's security and reliability would be maintained.
As blockchain makes steady strides in changing the foundation of economic and social systems, the market for this versatile ledger technology is expected to be worth more than US $3 trillion by 2024. Over the last 5 years, venture capitalists have invested more than $1 billion into blockchain companies, underlining its market potential. Energy is one area where blockchain applications are gaining traction, as I previously discussed earlier in 2016. Energy consumption is expected to increase by more than 40% globally over the next 25 years, with demand in some parts of the world possibly exceeding 100% in that time. This entails an increase in competition for resources and higher costs.
NEW Delhi – A joint venture between two major Japanese electric power companies is looking to explore more business opportunities in India's energy market with a particular focus on renewable energy, joining a growing list of investors betting big on the country's clean energy sector. "We have just taken our first step in India's energy market," said Toshiro Kudama, senior executive vice president of Jera Co., equally owned by Tepco Fuel & Power Inc., a subsidiary of Tokyo Electric Power Company Holdings Inc., and Chubu Electric Power Co. He was referring to Jera's recent acquisition of an equity stake in an Indian renewable energy firm. "Our immediate focus remains the country's renewable energy sector, which looks very promising to investors like us seeking to build a renewable energy portfolio," Kudama said. "However, we will also be exploring opportunities in other segments of the energy market in India such as providing energy services and building energy infrastructure."
The global energy demands are growing every year, and fossil fuels won't be able to fulfill our energy needs in the future. Carbon emissions from fossil fuels hit an all-time high in 2018 due to increased energy consumption. On the other hand, renewable energy is emerging out as a reliable alternative to fossil fuels. It is much safer and cleaner than conventional sources. With the advancements in technology, the renewable energy sector has made significant progress in the last decade.