Adopting affordable, green energy is at the forefront of renewables innovation. Technological advances help lower costs while making solutions simpler to scale, while smart grids and energy storage innovations help overcome intermittency challenges.
Other trends include electrifying transportation to reduce fossil fuel use; and innovative business models that open up system flexibility for greater use of renewables.
Solar and Wind
Solar and wind energy offer a sustainable alternative to carbon-based fossil fuels, helping combat climate change, reduce air and water pollution, and lessen risks associated with environmental disasters. Furthermore, wind and solar power can be used onsite by both homeowners and businesses during emergencies when utility grid electricity may not be accessible.
Sunlight penetrates Earth and heats uneven surfaces, where hot air rises while cooler air settles causing pressure differences that create winds that carry away energy as moving particles reach the surface; wind turbines then collect this kinetic energy and convert it to mechanical power to generate electricity – one of the most widely-adopted renewable energy solutions both consumers and utilities alike.
Wind energy provides an alternative solution, as its production does not rely on vast areas of land to be efficient. Instead, wind turbines can generate power at any point in the sky. Unfortunately, due to being less reliable than solar power sources it must be combined with energy storage systems in order to guarantee a steady power source.
Innovative technologies and business models are driving the expansion of renewables. Photovoltaic (PV) innovations such as perovskite, tandem, and multijunction solar cells are improving efficiency, cutting costs, and expanding applications of PV technologies. Big data and AI are further improving PV performance through automation of maintenance tasks and optimizing energy production; grid integration technologies help integrate renewables more seamlessly into utility grids while low emissions hydrogen from renewable biomass and water is speeding electrification initiatives, serving as energy carrier, and supporting industrial applications.
Solar and wind energy costs have reduced significantly in recent years, leading to an unprecedented surge in residential installations as well as business adoption of renewable sources of power. To remain competitive in an increasing demand market, manufacturers must continue innovating new approaches while improving efficiencies for maximum output and competitive edge.
Geothermal
Geothermal energy draws upon heat drawn from deep within the Earth to generate electricity via turbines that run on geothermal power, offering clean, firm and stable baseload energy as a key way of combating climate change. Under EarthShots initiative by US DOE’s Department of Energy this cost could drop 90% by 2035 with significant public support such as guaranteed loans to support risky well drilling operations or regulatory overhauls required.
Geothermal energy comes from multiple sources, such as hot springs and volcanic activity. Most existing technology focuses on hot springs as they are shallower and easier to access; deeper geothermal resources require expensive drilling that releases greenhouse gases; however, their emissions are significantly lower than fossil fuels or nuclear plants.
Geothermal energy offers many advantages for corporate buyers as a reliable energy source, such as round-the-clock availability without weather fluctuations or external economic or political influences affecting its availability. Furthermore, geothermal helps reduce dependence on foreign oil while creating jobs locally. Many corporate energy buyers are turning to geothermal as part of their carbon reduction commitments; Alphabet Inc’s Google has collaborated with Fervo Energy on developing a geothermal electric generation facility in Nevada.
Geothermal can also be combined with renewable and thermal storage technologies for greater community flexibility and lower overall grid costs. At NREL researchers are studying how these technologies can work together to increase efficiency of power plants while simultaneously lowering costs.
Geothermal heating and cooling systems offer many benefits over traditional natural gas furnaces, including reduced emissions. Furthermore, community buildings like schools and hospitals can take advantage of geothermal technology to cut utility costs and energy usage. Lawmakers in the US have introduced legislation encouraging geothermal heat pumps. State leaders are working toward expanding geothermal use – it currently accounts for only 0.5% of electricity production but experts predict every Western state could tap into its potential and use innovative new technology to expand this resource up to 15% of the time!
Ocean Energy
The ocean’s vast resources offer an excellent source of energy. Waves, tide currents and salinity gradients generate power that could fuel marine exploration, disaster relief efforts, offshore industries such as seafood farms or even contribute to creating carbon-free electricity grids.
Renewable ocean energy offers enormous promise, though still decades behind solar and wind technologies. Ocean energy technologies tap into natural ocean currents to produce reliable sources of electricity production.
Tidal and wave energy is highly predictable as its source is unaffected by weather or time of day, providing one of the greatest challenges of renewable energy: intermittency. For instance, energy generated during high tide or strong waves can be stored and utilized later for supply on demand.
As ocean currents churn and pulse, their movements can be difficult to harness. Yet hundreds of technological designs are competing for commercial success by harnessing them. Some, like Seabased’s tidal turbine, sit on the ocean floor and use seafloor movement to turn its rotors, which drive generators. Other solutions rely on height differences between high tide and low tide as energy sources; still others, like tidal barrages or stream technology utilize underwater turbines that capture kinetic energy in and out of tidal areas.
Still other technologies, like ocean thermal, utilize colder surface waters to offset power requirements by generators without emitting or creating waste products.
Research in renewable ocean energy technologies is progressing quickly and will make tremendous strides toward mitigating global CO2 emissions, supporting coastal and island communities that lack access to alternative power sources like diesel generators and providing disaster relief by powering drinking water and other services in affected regions. Initial investment costs, however, could hinder their market expansion; the good news is that over time their costs should come down due to advances in technology.
Energy Storage
Energy storage technologies play a vital role in powering our world with green electricity when the sun and wind fail to shine and blow freely. By storing power during off-peak hours for release during periods when demand peaks are highest, energy storage allows renewable energies to fully integrate into our grid infrastructure.
Utilities have come to recognize the numerous advantages offered by energy storage – both alone and combined with renewables (solar-plus-storage). It provides utilities with cost savings, decarbonization benefits, system integration efficiencies and reliability improvements, peak shaving (coincident and non-coincident), frequency regulation support voltage support demand response resiliency among many others.
Utility-scale battery energy storage systems (BESSs) can also help supplement fossil fuel generation during periods of peak demand, delay expensive transmission and distribution infrastructure upgrades, and accelerate renewable deployment. Many states are now adopting time-of-use pricing standards which favor BESSs.
Energy storage enables greater incorporation of renewable sources like wind and solar into the grid, helping ensure only cost-effective sources are included in the mix. As renewables market growth accelerates, many challenges such as project input/cost pressures, interconnection/permitting issues, workforce shortages and workforce constraints remain; yet some barriers are starting to dissipate as clean energy and climate laws take effect.
Future energy will be driven by hybrid decentralized sources that include solar, wind, thermal energy, hydro, and clean hydrogen sources. Success lies in connecting these technologies through hybrid microgrids while pairing them with innovative battery energy storage options. As a result, our sustainable energy ecosystem provides individuals and communities with a resilient and reliable supply of energy, while giving them the flexibility to tailor their consumption according to market prices and needs. Modern batteries allow EV owners to rapidly charge their vehicles, easing the transition towards cleaner transportation. Renewables continue to transform our world for the better – be that through power or transportation or any other source.
