Sustainable and Renewable Energy Forecast
As we come ever so closer to the year 2020, there have been nigh countless changes and noteworthy highs and lows for the industries that run the world. Truly, there is nothing permanent in the world but change, especially with the surge of ground-breaking technology and automations, palm-sized smart gadgets that give you a ton of features and capabilities, and app and software with internet access. Once a thing only conceptualized in works of science-fiction, technology in any form is what more than half of the world’s populace are dependent on. This is most expressly true for the renewables industry.
Today, renewable energy is garnering more popularity not just as an alternative source of energy in lieu of fossil fuels, but also as the choice that is more preferred due to it being cost-effective and environmentally friendly.
The world-changing trends that have been projected to be true come 2020 are as follows:
The first category talks about enabling trends i.e. how the utilization of renewable energy is made affordable and the energy distribution more accessible to residential and commercial energy consumers.
The second category revolves around demand trends i.e. the consumption patterns and the motivations of users of this energy.
Lastly, we have technology application trends—how the spread of renewable energy technology is plotting electricity usage and is in turn affecting how the generation and distribution of renewable energy might evolve to.
Enabling Trends
Price & Performance Parity: Renewable Energy Forecast
Truly, renewable energy generation technologies continue to transcend the expectations of their inventors. In response to this, specialists foresee grid parity will be achieved by countries such as China, Australia, and the USA 6 years from now.
Energy Storage: Renewable Energy Forecast
With the improved utilization and adoption of commercial batteries, energy will be able to be meritoriously employed with lesser incidents of intermittent outages—ensuring smooth electric supply to homes and commercial businesses, especially those far away from the electric grid.
Distribution Decentralization : Renewable Energy Forecast
The usage of blockchain in various energy markets will help allow more financing prospects for renewable energy projects. By expanding the pool of investors to tinier units, project developers would be able to crowd source a fraction of a project’s financing, allowing them to fasten the rest of the funds from venture capital investors or financial institutions.
Rise of Wind Power: Renewable Energy Forecast
While a number of renewable energy sources are becoming more well-organized towards reaching grid parity, wind power is perhaps the fastest growing and most successful green energy source.
Smart Renewable Cities: Renewable Energy Forecast
Since the goal of any city is economic growth, advocating sustainability, and maintaining a high quality of life, these cities require stable and abundant energy that is very accessible and reliable.
Big Businesses Commitment: Renewable Energy Forecast
Tech and communications giants such as Facebook are also vowing to reach 100% renewable energy.
Electric Vehicles: Renewable Energy Forecast
While the adoption of electric vehicles are more prevalent in various households, cities all over the world are slowly transitioning towards electric public transportation, as well.
Artificial Intelligence: Renewable Energy Forecast
With AI’s machine learning competencies, clean and sustainable energy sources like wind farms can enhance their operations, resulting in much more efficient handling of financial resources and electricity generation.
Having said that, the renewable energy industry’s future appears bright for both the current and the next generations of the world. These will undoubtedly inspire everyone partaking in such initiatives and endeavors.
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