Energy innovation has altered how businesses provide sustainable goods and services. Concentrated Solar Energy, Carbon Storage, Nuclear Fusion, Smart Electricity Grids, Hydrogen Technologies, Energy Storage, Innovative Heat Pumps are Energy Efficiency are some of these cutting-edge energy sectors.
One of the most popular investing sectors worldwide is still energy. The market for renewable energy is booming as the globe shifts away from fossil fuels. According to latest data , the market for renewable energy is predicted to reach $1,512.3 billion in value by 2025, rising at a CAGR of 6.1 percent between 2018 and 2025.
The energy sector is expected to experience a significant increase in the near future, despite the fact that several businesses had to reduce their research budgets as a result of the pandemic. Let’s start our list of emerging energy technologies you can invest in today.
Hydrogen Technologies
Sometimes referred to as the “new oil” or ” blue energy “, hydrogen energy can potentially revolutionize the world by decarbonizing a variety of sectors at a time when green energy research and initiatives are exploding globally. In addition to renewable sources, any energy source, including coal, gas, and byproducts, can be used to produce this clean energy carrier. The process of electrolysis, which separates water into hydrogen and oxygen using electricity, is the foundation for the production of hydrogen from renewable sources.
However, the primary cause of climate change is greenhouse gases, which are produced when hydrogen is produced from conventional resources. Fortunately, improvements in CO2 capture have allayed some of the worries regarding traditional hydrogen production.
Smart Electricity Grids
One of the recent energy technologies you can invest in right now is the smart grid . The grid is a term used to describe the network of transmission lines and the stations that connect the power plant to your homes or places of business. The technology used in a smart grid allows for two-way communication between the utility and its customers. Electric demand is managed and measured using smart grid technology, which also enables automation to interact with the entire system.
Smart grid technologies provide both businesses and consumers with a number of advantages, including effective transmission, decreased peak demand, higher integration of large-scale renewable energy systems, and improved integration of customer-owned renewable energy systems.
Energy Storage
The global market for energy storage is booming. This business still places a lot of emphasis on battery technology. Electricity storage devices regulate the amount of power needed to serve clients during peak load times in order to make up for energy imbalances. Additionally, by managing the grid system, these storage devices contribute to the seamless operation of renewable energy.
The most popular technology is still lithium-ion. However, the fact that EV batteries are ten times more powerful than grid-scale batteries is what really makes the EV sector the industry leader.
Innovative Heat Pumps
Although heat pump systems and technology cannot be categorized as new technologies, they can be seen as the heating and cooling systems of the future for both residential and commercial applications. As the EU looks for technologies to quickly accelerate electrification and decarbonization, the heat pump market is projected to experience major growth in the upcoming years. Nearly 20 million households bought heat pumps in 2019, according to the IEA. Since 2015, Europe’s market has experienced a 12 percent increase in its average yearly growth rate.
Carbon Capture and Storage
The use of Carbon Capture and Storage (CCUS) technology allows for the capture of carbon dioxide emissions from both industrial and electricity-generating activities. The idea is to separate the carbon dioxide from the exhaust stream and compress it before moving it to a storage tank. To reach the goal of zero emissions, carbon capture will be necessary. The number of nations extending policy support for carbon capture technologies is widespread.
In addition to the ones already stated, there are a number of other new energy technologies present in the market. The world is moving away from fossil fuels, which is driving a boom in the market for renewable energy. The energy industry will continue to grow and become one of those industries with the highest levels of investment even after the pandemic.