The use of sustainable energy has been happening for years. As costs of solar and wind decrease and consumer opinions favorably shift, the world is looking to expand and explore different types of renewable energy.
While some people believe that renewable energy is tipping this year, steps are being taken to further the momentum and gain even more popularity. What does that mean for 2023?
Expanding Renewable Energy
Green technology is on the rise, and renewable energies like solar and wind are now cost-competitive with fossil fuels.
As a result, it now makes sense for countries to make the switch since economies can save $12 trillion globally by 2050. Because renewable energy is intermittent and doesn’t work when the sun isn’t shining and wind isn’t blowing, expanding renewable energy generation must be done in conjunction with increasing baseload energy sources like natural gas or nuclear power.
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With a price decrease, governments are scaling already existing green technologies and developing new ones to address climate change.
Outside of solar and wind, countries are also turning to green hydrogen.
As a clean-burning energy resource, it will allow renewable energy to be captured and transferred long distance. Thanks to its reach, green hydrogen will be able to not only consistently support nearby areas but will also be able to reach energy-starved locations.
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This will make sustainable resources readily available for consumers who are struggling to maintain their current energy sources.
More importantly, the use of green hydrogen energy will be the building blocks for further research on ways to transport energy – diversifying the industry, and increasing research for long-distance reach.
Recent research and breakthroughs give a lot of hope for nuclear fusion as an energy resource.
With a proof of concept now successful, showing that fusion can generate more energy than what’s required to start the process, further research and investment will spur the development of new technology.
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The use of atomic energy, however, is debated heavily as many consumers are apprehensive to see it in use. Its history, specifically, as a destructive war resource has left a sour taste in many people’s mouths for decades.
Fusion also doesn’t produce long term radioactive waste in the same way that fission does, lowering risks and dangers.
Nonetheless, nuclear energy is gaining in popularity with young Republicans, indicating a new wave of opinions to come in the future.
Solar and Wind
As of right now, a quarter of the United States’ power supply is renewable and an overall decrease in non-sustainable energy is expected in the coming year. In 2019, green power also surpassed coal for the first time in over a century.
This is thanks to solar and wind energy.
In fact, two-thirds of expected renewable energy growth is due to solar innovations and initiatives. Last year, new initiatives were launched to connect energy-deprived areas to solar energy while lowering consumers’ bills.
The solar industry is already diverse as companies work to provide service across the country, but the recent boost in funds will ensure equitability and inclusion.
One-third of consumer excitement is also based on wind energy advancement as innovations advance globally. In just a decade, wind power more than doubled while consumers using solar increased by twentyfold.
What is Renewable Energy’s Future?
As the world strives for a more sustainable environment, it’s important to ask: what is renewable energy’s future?
It’s clear that consumer opinion is slowly but surely warming up to the thought of new resources that goes beyond traditional means.
The continued research on new and emerging resources, technological development of various types of renewable energy, and an overall increased favorability that’s peaked in the past year. It all indicates that the switch to renewable energy is gaining momentum.
The views and opinions expressed are those of the author’s and do not necessarily reflect the official policy or position of C3.