2019 promises to be an exciting year for clean green energy. A prominent number of regions, countries, and companies are embracing renewable energy resources and sustainable energy generation. The landscape of renewable resources is rapidly evolving and we will see a huge shift in the energy sector.
Here are the top 6 renewable energy trends you need to keep an eye on this year.
1. Energy Storing Batteries
Energy storage has played an important role in balancing energy demand and supply. It is a source key for tackling the intermittency issues of renewable energy. Pairing a renewable energy resource with a storage system ensures smooth and steady power supply irrespective of the weather conditions not being optimal sometimes.
The most common storage devices used in renewable energy systems are rechargeable batteries. The use of these batteries has increased on both the residential and grid-wide scale level boosting up the energy production with renewable energy resources. Energy storage technologies are providing improved sustainable products with effective lifetime, making their use more viable and affordable. The energy storage technology will represent a core component of all new energy technologies moving into the future. Both utility-scale and domestic energy storage solutions are becoming more price competitive, eroding the advantages of traditional energy sources.
2. Grid Parity & Falling Costs
When alternative energy generates power at a cost and performance level equal to or less than electricity generated from conventional methods it is called the grid parity. Solar and wind have reached parity in price and performance in many regions. New technologies introduced in the energy sector continue to cash the competitive edge.
The traditional models of energy production are being replaced by modular, consumer-driven and evenly distributed power generation. Renewables are serving as the core for energy production, strengthening grid reliability and resilience. The utilization of new technology i.e. blockchain and AI make renewables self-optimizing and increases their efficiency. Solar and wind are already more efficient and cost-effective than nonrenewable resources. Evolving technologies will continue to improve the price and performance of these renewables in the near future. With greater economic benefits and low environmental impact, renewables will be preferred for energy production over the non-renewables.
3. Energy Blockchain And IoT
Blockchain technology is being adopted in the energy sector to help reduce energy inequality and inefficiency. It empowers consumers to buy and sell energy from other consumers directly. Pairing the technology of blockchain with our everyday devices we use to receive and convey information, referred to as the Internet of Things (IoT), stands to have a profound impact on energy systems.
With the correct applications, devices can autonomously buy and sell energy at the optimal times, optimize energy system settings in a real-time context and monitor and analyze the performance of energy-consuming devices.
4. Microgrids and Artificial Intelligence
Microgrids can operate either autonomously or while connected to a larger traditional grid. Microgrids are being installed with many solar power plants to automate the energy grids worldwide. The main purpose of installing these with renewable energy plants is to provide energy independence, efficiency, and protection during emergencies.
Using Artificial Intelligence (AI) with microgrid allows control over the operations, increase adaptation and improvement of operation. Deployment of microgrids with the renewable power plants is becoming significantly quicker, with new software modules assisting designs to be completed in a single day.
5. Energy Access In Developing Countries
New innovations in energy technology, can fulfill the need for a significant percentage of the world’s population that remains without access to energy. A billion people live without electricity and hundreds of millions have unreliable or prohibitively expensive energy sources. To Achieve universal access to energy is a critical component of addressing global development challenges. The changes and advancements occurring in the energy sector are a solution to the problem of energy shortfall. Community-based microgrids could represent the most cost-effective way of delivering affordable energy to developing countries.
6. Big Climate Actions
Corporations, cities, and countries are embracing emissions reduction targets and a commitment to a climate action plan to meet the goal of limiting the rise in global warming. Over 100 cities worldwide report that at least 70% of their energy production is from renewables. More than 40 are currently operating on 100% renewable electricity. Hundreds more have pledged to work towards the goal of energy generation that is 100 percent based on renewables.
Recognizing the impact of renewable resources on climate change, More than 150 companies have also committed to transitioning to 100 percent renewables for energy production. Ethraa is one of those dedicated companies working in the renewable sector to bring a change in traditional energy production and contribute towards a climate action plan. Clean, modular and renewable energy systems are perfect for a significant number of communities that have been unable to benefit from traditional incorporated types of energy generation and delivery.