3 Emerging Trends in the Energy Industry

3 Emerging Trends in the Energy Industry

By Energy CIO Insights | Friday, December 20, 2019

Wind and Solar power have proliferated and expanded over the year; however, energy providers are investing heavily on new and clean sources of energy.

Fremont, CA: The demand of energy is rising to ensure the quality of life and to run the other elements of the economy. Depleting energy resources is one of the most ongoing issues of modern times. The enhanced living standards of developed countries, reliance on technology, and the continual increase of population in the developing countries have caused the rise in energy demands. The consumption of fossil fuels is increased to fulfill the energy demands resulting in climate changes and environmental issues. Governments are taking steps to provide clean energy by using renewable energy sources such as wind and solar. However, energy providers are exploring more options, such as offshore wind and lithium-ion battery storage. Here are the emerging energy technologies of 2020.

• Marine solar

Floating solar arrays on freshwater bodies have been popular in the year 2019. Governments and energy providers have made announcements regarding sea-based PV projects. However, the announcements’ going mainstream remains doubtful. Experts say that offshore floating can be the next frontier, but there are still challenges to overcome within the inland floating solar arena.

• Green hydrogen

Renewably produced hydrogen is not present in the category of emerging energies. It has transitioned itself to the established energy category as at least ten countries are already vying for the leadership positions for the next big thing in power.  Experts believe that this industry can come on par with oil and gas as it has very low emissions and significant value for electricity grids assisting in integrating variable renewable energy. Additionally, green hydrogen can help decarbonize industrial processes, gas heating, and heavy transport.

• Static compensatorsTop Energy Management Solution Companies

According to the U.K. energy analysis form Cornwall Insight, static compensators are emerging as technology as grids attempt to integrate growing amounts to renewable energy. However, they may not have garnered much mainstream attention. Static compensators mimic the action of rotating masses formerly supplied by thermal turbines, maintaining a constant frequency across the electricity network. Renewable-heavy grids do not have the natural frequency-response mechanism requiring a compensator. OEMs are waking up to the potential of this market.

Clean energy is the need of the hour, and governments and energy providers are investing a lot of money and time to innovate new methods to generate electricity.

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