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In a world that seems to be ever progressing towards a bright, technologically advanced future – with self-driving cars, commercial flights to space, and the power to instantly connect to anyone in any corner of the globe – it may be surprising to find our energy market lagging so far behind. During the height of the industrial revolution in the Victorian era, the use of coal was a novel discovery but brought along many problems of pollution and worries about environmental impact.
Sadly, over one hundred years later, much of the world is still heavily dependent on this finite resource – as well as on oil and natural gas – to power cities. We seem to be moving backward as the focus on hydroelectric and nuclear energy in the mid-1900s has now seemed to have died out in the 21st century. How can we expect to build a sustainable and energy-secure future for generations to come?
Part of the issue could be the lack of government support despite technological improvements in renewable energy and innovative solutions continue to be made. On the one hand, titans of old energy resources like natural gas and coal continue to be prevalent. As the war in Ukraine and global supply chain shortages from the pandemic both choke the international energy market, governments have put greater focus on the integration of renewable energy.
Still, the cost and massive infrastructure overhaul that many renewable energy sources would need to be implemented are significant reasons for the hesitation. To see a change in our energy market, technologies that can accelerate renewable resources’ implementation must also be prioritized.
These innovations are being worked on by emerging and innovative companies. In the world of solar energy, technologies like mounted solar panels, which require a high initial installation cost and regular maintenance, may soon be swapped out with more seamless integrations of solar panel windows for large buildings. In terms of wind energy, the old-fashioned windmill may quickly be replaced with a cheaper, sleeker, bladeless design made by Spanish startup Vortex Bladeless.
However, there are still challenges in optimizing solar, wind, and other forms of renewable energy sources. There have been some improvements in the traditional chemical battery, but issues like short lifespan and the potential for environmental harm due to chemical decay still exist. A new form of energy storage comes from flywheel technology. Amber Kinetics, the world leader in kinetic energy storage solutions, has developed the flywheel as a safer, energy-efficient, and long-lasting storage solution. It’s clear from the many innovations in the renewable energy and energy storage market that there is hope for an energy-secure future.
