All we have an idea about renewable energy sources. We also know how important it is for us. 2019 is promises to be an exciting year for cleantech. an increasing number of countries, companies, and regions are embracing sustainable energy generation. Also, the landscape is rapidly evolving. So here are 6 renewable energy trends to watch in the coming years.
Energy storage has an important role in balancing power supply and demand. It is the key to tackling the intermittency issues of renewable energy. To get a steady and smooth power supply, they pair this renewable energy storage system which ensures. It will be smooth and steady even when weather conditions are not optimal for energy generation. In a renewable energy system, They use the battery to store. Their use is increasing on both the residential and grid-wide scale. They are making their use more viable and affordable. So these energy storage will improve. Now it is projected that storage will represent a core component of all new energy technologies. Which is moving into the future?
Microgrids and AI
Microgrids are local energy grids. That can operate either autonomously or while connected to a larger traditional grid. They provide energy independence, efficiency, and protection during emergencies. They use the machine learning capabilities of artificial intelligence. So microgrid controllers allow for continuous adaption and improvement of operation. The new software is allowing for designs to be completed in a single day. So the deployment of a microgrid is becoming significantly quicker.
Energy blockchain and IoT
It is originally developed to record cryptocurrency transactions. This blockchain technology is being adapted for use in the energy market. It records transactions through a peer-to-peer network. The blockchain is an incorruptible digital ledger. There is a lack of centralization in the blockchain, which leaves it as a deal for eliminating the middlemen of the electricity suppliers. It reduces inequality and inefficiency. This empowers consumers to buy and sell energy from other consumers directly.
They are now pairing the distributed ledger technology of blockchain with everyday devices. So we can use it to receive and convey information. Now commonly referred to as the Internet of Things. This stands to have a profound impact on energy systems.
Grid parity and falling costs
Grid parity occurs when alternative energy can generate power at a cost. So the performance level is equal to or less than electricity generated from conventional methods. Solar and wind have reached parity in both prices. The performance in many regions and new technologies continue to hone their competitive edge. In the traditional model of large, top-down and centrally distributed, energy production is replaced by modular. Consumer-driven and evenly distributed power generation.
The number of corporations, cities, and countries is increasing. They are emissions reduction targets and climate actions are going to meet the goal of limiting the rise in global temperature. Over the 100 cities worldwide report that at least, 70 percent of their energy production is from renewables. More than 40 percent are operating on 100 percent renewable electricity. Hundreds more have worked towards the goal of energy generation and that is 100 percent based on renewables. They recognized the impact on climate change. So 158 companies have committed to transitioning to 100 percent renewables.
Energy access advances in developing countries
When we are talking about exciting new innovations in energy technology, the significant percentage of the world`s population remains without access to energy at all. A billion people live without electricity and hundreds of millions have expensive energy sources.