Over 3,000 investors managing more than $110 trillion in assets have signed on to the Principles for Responsible Investment, which encourage signatories to incorporate Environmental, Social, and Governance factors into their investment and ownership decisions.
FREMONT, CA: The energy sector faces increasing pressure from various stakeholders, from consumers to utility-scale power plants, to reduce renewable energy costs while simultaneously improving renewable energy adoption rates. Startups and emerging companies flourish a range of solutions for both energy producers, consumers, and prosumers.
Below are some energy tech trends for 2021 as follows.
Renewable energy contributes to environmental preservation by emitting little or no harmful gases. Renewable energy is based on the principle of extracting energy from a constant source within the environment, such as the sun, wind, or geothermal energy. The next critical step is to transform the source of energy into valuable electricity or fuels. One of the most significant energy industry trends is the proliferation of technologies that address various aspects of generating electricity or heat from renewable sources. This includes lowering the cost of renewable energy infrastructure manufacturing and increasing the efficiency of energy generation.
Energy Internet (IoE)
Historically, electric power systems have been constructed using a central architecture, which presents a new set of challenges for the industry. IoE addresses several of these issues by enhancing the efficiency and optimizing the design of building energy systems. Through energy transactions between its users, the Internet of Energy implements intelligent distributed control. This new energy generation paradigm establishes a smart grid and enhances the macro-energy system's coordination and optimization.
All energy stakeholders are brought together under a single decentralized system by blockchain technology. Smart contracts can benefit electricity producers, distribution network operators, metering operators, financial service providers, and traders. These contracts ensure that all energy-related transactions occur on a secure, immutable network, thereby eliminating the possibility of loss. Additionally, blockchain technology can create equality between energy producers and consumers by making electricity more affordable to a broader population.
V2G is a system in which electric vehicles sell energy in response to demand, either by returning excess power to the grid or reducing their charge rate. If EV batteries are later used to recharge the grid via charging stations, they can be used as an energy storage asset. Charging EVs at a lower cost during periods of low demand helps the network handle peak loads. These adaptable and accessible buffers have the potential to shorten the duration of a power outage.
Power to X (PtX)
Globally, reducing greenhouse gas emissions through increased energy efficiency and renewable energy sources is becoming increasingly important. The industry shows rising interest in power-to-x technologies for electricity conversion, energy storage, and reconversion pathways. Energy and carbon dioxide (CO2) is converted by startups and emerging PtX technologies into new products and materials used for various purposes.
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