TRENDS IN RENEWABLE ENERGY QUALITY LEVEL BLAKE ZIMMERMAN
There are close to one billion people on earth lacking any source of electricity. Into the future, the only way to have an equitable future is to find new sources of energy that come from renewable sources. With a great many nations and companies working toward the goal of placing renewable energy into the hands of those who most need it, the future of renewable energies is bright.
2021 PANDEMIC AND ITS EFFECT ON RENEWABLE ENERGY SECTOR The Covid-19 pandemic has affected a great many business sectors, and the renewable energy sector has also felt the effects. Supply chain disruptions have led to many installations and repairs being delivered at a slower rate. Other projects have been completely abandoned for the time being. Many commercial and residential projects have pulled back due to the economy's slowdown and an uncertain outlook of the financial future. However, the renewable energy sector certainly has some guiding light that looks to be positive for growth.
FACTORS OF GROWTH Many factors can help look into the future of renewable energy and its growth into the future. China is one of the biggest factors when it comes to expansion and growth. China's lockdown measures were one of the strictest on the planet regarding the Covid-19 pandemic. With the successful combat of Covid-19, China has been able to begin manufacturing more solar panels. Over 2020, China, like almost every nation, had to go on lockdown and this immensely had an effect on the solar panel supply chain. China manufactures up to 70% of all solar panels that are to be installed.
ENERGY STORAGE One of the biggest factors lacking in renewable energy's past was the lack of storage for power that was being generated. There was no way to store this energy for future use. The actual storing of the energy can be very expensive and the price will go down into the near future and beyond. New batteries, other than lithium, are being created, and they show great promise. These new batteries hold more energy and for cheaper. With more offshore wind turbines going up, storage needs will need to be met. On a different note, new green hydrogen technology is also showing signs of promise.
The future is unknown, and there are a great many variables. One thing does seem to be certain though, and that is the need for more renewable energy.