Electricity will always play an integral role in our daily lives. Whether it’s typing away on our laptops, looking for a way to charge our phone, keeping ourselves comfortable with heating and air conditioning, and using cooking appliances, we will need electricity and energy in everything that we do.
But with billions of people using energy worldwide, this has caused a lasting impact on the environment. Energy consumption is the main contributor to greenhouse gas emissions and is responsible for around 70% of the emissions worldwide. That said, we have to make strides in energy efficiency to combat greenhouse gas while also cutting down on energy bills.
The Future of the Energy Sector
So what are some recurring trends in the energy sector? In the past few years, we’ve seen several fundamental changes and transformations in the industry to ensure that energy and electricity are efficiently distributed to residential areas, commercial establishments, and industrial locations in different parts of the world.
Various governments around the world have been passing a variety of laws that help incorporate the use of clean, sustainable, and renewable sources of energy rather than use traditional sources. Most would say that tapping into renewable energy sources can have various benefits, which usually includes less expenditure for businesses and residential homes and fewer pollutants that might contribute to greenhouse gas emissions.
So what’s the direction that the energy industry is driving to? Here’s what you’ll need to know.
Reducing the carbon footprint – To adapt to a cleaner environment free from pollutants, nations are striving towards a carbon-free economy by integrating different renewable energy sources that don’t need fossil fuel and traditional energy sources. One of the most significant moves made by government entities is by making electricity more accessible in remote areas while imposing higher taxes on conglomerates that use fossil fuel.
Decentralizing the power grid – Traditionally, many older power grids are linked to central business. By decentralizing the power grid, many businesses will be able to participate in the energy sector by bringing producers while also getting a steady increase in consumers. Some of these areas will produce their own energy, making energy cheaper and more widely available instead of relying on a central power grid. Many would say that this is an excellent way of utilizing more sustainable means of energy.
Digitizing machinery – many businesses that use the traditional means of distributing energy will use machinery that is considered older-generation. This means that more workforce is needed to operate these facilities. This can be an added risk for individuals that are operating obsolete machinery. Fortunately, most of the equipment being used for renewable energy is already automated and digitized, which means there’s little room for error while being more efficient. This can help cut down on the cost and time needed to operate.
Based on these trends, what are some innovations in the energy sector? Here are some innovations that can help the carbon-free economy and our daily lives.
Better Control of Energy
Although many countries are now enjoying the abundance of energy for business and residential needs, energy still needs to be regulated to ensure no electrical hazards and issues. This is especially true for local power grids that don’t necessarily have updated energy equipment to control energy flow.
Industrial facilities and manufacturing plants tend to use up a fair amount of energy for automated machinery that’s usually working day-in and day-out. Sometimes, short fuses and hazards can happen if voltage levels are not effectively regulated. Fortunately, you can invest in a variable transformer that can help regulate and control power for high voltage and current applications. Not only are these control mechanisms silent and safe, but they can also help conserve energy while extending the lifespan of most electronic parts.
Distributed Sources of Energy
Also known as distributed energy resources (DERs), this innovation will help with the generation of energy at the same place that it’s being consumed. Since there’s no need for a network, this will eliminate any risk of energy services breaking down from a particular grid and mitigating the cost of energy transmissions.
For individual small-to-medium enterprises, this is very useful in ensuring business continuity during times of uncertainty.
As society slowly transitions towards renewable and digitized forms of energy, many businesses and homeowners will need to adapt to the ever-changing energy sector. There’s bound to be even more innovations in the next few years, significantly when technology is always improving itself. Not only does energy efficiency help with cutting down on bills, but this is an excellent way of maintaining business operations during tumultuous times. What are some innovations this 2021? Only time will tell.
