Future of Energy is green
Just 200 years ago, our main energy source was wood. Now, even though we have a pleothra of energy sources to choose from, including a growing range of renewable energy technologies, we are faced with a crisis of energy security.
How and at what cost can we keep supplying energy to an ever-growing population is the pivotal question governments and corporations are trying to address. And with the growing environmental consciousness, the impact of our energy choices on our living conditions and our planet is also becoming a leading issue.
The Nature magazine reports that China’s rise to become the world’s largest power producer and source of carbon emissions through burning coal is well recognised. However, the nation’s renewable-energy systems are expanding even faster than its fossil-fuel and nuclear power. China leads the world in the production and use of wind turbines, solar-photovoltaic cells and smart-grid technologies, generating almost as much water, wind and solar energy as all of France and Germany’s power plants combined. Production of solar cells in China has expanded 100-fold since 2005. The narrative around renewable energies is changing. Renewables are increasingly seen as a source of energy security, not just of reduced carbon emissions. As the scale of manufacture and use of renewables rises, market forces will make them more accessible, affordable and efficient.
Some of the trends that will shape our future are:
- Renewable energy: The International Energy Agency expects electricity generation from renewable energy sources to increase from 21% in 2012 to 33% by 2040.
- Smart metres: Real-time data will help energy users decide how they use energy.
- Thinking local: More electricity will be generated and used on-site with rooftop solar panels and cogeneration facilities, for example.
- Energy storage: As battery technology improves, it will be better able to support renewable energy sources, such as solar and wind power. Innovation in energy storage has already resulted in graphene technology being used in batteries, which may be able to store far more energy than the existing lithium batteries.
- Electric cars: Electric cars do not produce tailpipe emissions and cost 50% less to run than petrol powered cars.
Our perspective
In the broadest sense, it is solar energy that supports all life on Earth and is the basis for almost every form of energy we use including coal and petroleum. In countries like Germany, renewable energy generation surges up to 75% of the demand on some days.
Developments in solar generation will fuel development opportunity around equatorial regions, which have been most generously bestowed with solar heat throughout the year. Besides, boosting development of low energy intensive businesses/industries (which is what knowledge society is about), it will make them energy efficient or even net exporter of energy.
As solar energy can be locally produced, it will fuel local growth of businesses. The prosperity of GCC region was propelled only after tapping their energy resources in the middle of the last century. A similar prosperity awaits the developing countries around the equator powered by solar energy.
Further, renewable energy will remain a major area of research and remodelling technology economics and micro applications.
Tthe availability of smart grids, smart metering and allied technologies will ensure every household could become a prosumer, i.e., a consumer who produces their own energy and the rest could be supplied to the grid. Putting in place such infrastructure, management and maintenance will create a huge green energy business and give impetus to micro enterprises, trade and distinctive skills and knowledge at local level and not only in major centres of commerce and industry.
Gazing through the crystal ball
- First and foremost, the Internet and mobile technology will reach all corners of the earth for mobile phones and telecom infrastructure are low energy intensive resources. It will herald a new era of intensive growth and development across the world. The world will be one market within a couple of decades.
- Microenterprises will get a new life line, well supported by locally produced energy and the ability to plug into the emerging digital network of big businesses/organisations.
- Of course, a secure energy future also means better availability of water, food grains, banking, and communication.
- Better education and healthcare will reach all because both are now deliverable over telecommunication backbone; abundant energy will have an unthinkable multiplier effect on inclusive development. Brace up for more competition. All kind of trade and manufacturing will become more efficient and drive down cost and prices of products and services.
