5 Renewable Energy Trends Dictating a Market of Sustainability

Renewable energy sources are fast becoming mainstream, preferred energy sources around the world. Solar energy experienced annual double-digit growth of 50% over the last 10 years.

Climate change and other environmental factors drove the growth of renewable energy sources.

And renewable energy sources are now generating power at cost levels on par with conventional energy. So, there’s no reason to stick with energy sources that are damaging to the environment.

Keep reading to learn about key renewable energy trends driving us to a better future.

1. Advancing Solar Power

Solar power continues to advance with over 64,000 megawatts of installed solar power in 2018. Residential solar is on the rise. If you live in Los Angeles, call the best solar company for your residential solar power needs.

Of all new electrical generating capacity added to the grid since 2013, solar accounts for about 27%. Florida has a current 2,100 megawatts of solar capacity today. That number should reach about 10,000 megawatts by 2030.

2. Increasing Energy Storage

One of the problems with solar power was finding a way to store it for future use since the sun isn’t out all the time.

Better, cheaper batteries help make solar more affordable and accessible. It also helps streamline the power supply. As battery technology improves, solar becomes price competitive with fossil fuels.

3. Microgrids, AI, and Blockchain

Microgrids are small energy grids in local areas. Many of them operate independently from traditional grids.

These smaller grids use Artificial Intelligence (AI) to improve grid operation. These smaller grids are installed in 90% less time than traditional grids, sometimes in a single day!

Blockchain is most often associated with cryptocurrency. But the same technology is now used in the energy sector.

Blockchain eliminates electricity suppliers and reduces inefficiency and inequality. Consumers can then buy and sell energy without the middleman, making it cheaper.

4. Enhanced Geothermal Systems (EGS)

Most people have never heard of EGS, but it’s potential is impressive.

It involves digging deep wells into the earth. A fluid is then circulated over existing hot rocks. The steam released goes into a closed-loop system which spins turbines on the surface, creating energy.

EGS could be affordably implemented across large portions of the United States. The Department of Energy (DOE) gave out $16 million dollars in grant money in 2018 for research into EGS.

5. Offshore Wind Power

The DOE also expects an increase in offshore wind power by 2030. Offshore wind projects could generate 3%-4% of the nation’s total electricity.

You won’t see the offshore wind turbines. But they’ll be taller than onshore turbines.

New Jersey, New York, and Massachusetts have all received record bids for offshore acreage suitable for wind projects.

Renewable Energy Trends for a Clean Future

The headlines are all doom and gloom, but the reality is good when it comes to renewable energy trends.

Solar and wind continue to make great strides as prices come down and technology advances. Better energy storage is a key factor in driving these advances.

Keep your eye on microgrids, AI, and blockchain. These technologies create better efficiencies in the systems, driving renewable energy costs down.

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Melissa Thompson writes about a wide range of topics, revealing interesting things we didn’t know before. She is a freelance USA Today producer, and a Technorati contributor.