According to the report, in comparison to the last year’s report, global electricity demand is expected to surge 3% per year (2023-25). On the other hand, advancements are focused on reduction of fossil fuels and electricity production in the sectors like heating and transportation. This highlights the contemporary revolution of energy sector in terms of rapid transformation towards the future. The concept of renewable energy is widely spread and Electrical Engineering Colleges in Coimbatore covers these subjects to explore how renewable energy aids in enhancing the technologies and assists in electricity production. Let’s discuss the trends and innovations that have global impact.
Top Trends in Renewable Energy this Year:
Energy trends can be categorized into frequent concepts like decarbonization (transformation of carbon-free market), decentralization (electricity distributed globally by various providers and consumers) and digitization (use of digital devices at all levels of power systems – from production to infrastructure). However, these are minor concepts covered in your major course/ specialization while pursuing in top B. Tech Colleges in Coimbatore. So, explore the energy trends which you can consider for your final year projects.
Trends in Energy Industry:
1. Renewable Energy:
It is highly different from fossil fuels in terms of variety, quantity and potential use of Earth but doesn’t emit any kind of greenhouse gasses that contribute to climate change or harmful emissions.
Thus, the highlights of renewable energy are: zero harmful emissions, preserving the environment and industries focusing on transformation to renewable energy. The sources are directly from the environment like the sun, wind and geothermal.
It is also noted that renewable energies play a huge role in converting these sources to electricity or fuels. Thus, energy industries consider renewable energies as a revolution trend where the range of technologies used to generate power or heat from the renewable forms.
The pros of using renewable energies are reducing manufacturing cost of renewable sources and generating power with higher efficiency rate.
What can we expect from the trends in renewable energy?
1. Green hydrogen:
The process of water electrolysis with electricity through renewable energy is called green hydrogen. The higher the renewable energy in the electricity fuel mix, the more green hydrogen production is evident. This gas can be used in fuel cars, airships and spaceships as this clean energy source emits water vapor and no residue in the air. This green hydrogen demand can be increased over the years as it mainly involves the implantation of decarbonization.
2. Decentralizing energy grids: This will help to reduce the emissions by prioritizing renewable forms of energy. The supply of energy around the world through the centralized grids is the reason for shutdowns and infrastructure damage. Decentralized systems assist countries with crises that frequently occur due to climate change like natural disasters or other emergencies.
3. Internet of Energy: Electric power systems are usually constructed using a central design, which presents significant challenges for the energy industry. IoE provides improved effectiveness and effective planning for building power systems while addressing a number of these issues.
4. Energy Storage: Energy storage makes it possible to maintain steady price by actively controlling consumer demand. Consumers may stock up the energy at favourable conditions by having the option to buy it for later usage. Some businesses have been focusing on producing more powerful yet less priced batteries. This relates to other green energy applications, including electric cars, where battery life is crucial. In the future, this stored energy aids in reducing grid loads during the times of high demand, allowing customers to make more money as energy price ascend.
5. Block chain in energy sector: Block chain, with the help of Block Chain Technology, the whole energy industry will be integrated into a single, decentralized network. Smart contracts may be advantageous for investors, financial service providers, distribution network operators, electricity producers, meters operators and meters. Making the cost of electricity affordable for more people, would potentially create a certain level of equity between energy producers and consumers.
6. Energy as Service: EaS enables a switch from selling electricity to selling services like consumption control, production optimisation and consumption tracking. Local energy production and storage facilitate increased electricity supply and accelerates overall efficiency in energy usage.
As it is evident that the energy sector has to face the growing demands of stakeholders and lower the cost of renewable energy sources when its usage rate is high. The best Engineering Colleges in Tamil Nadu provides the idea of implementing the technology to bring transformation in the energy sector. Engineers should know the evolving trends in automobile and electricity because of the transformation of energies that are harmful to nature.
- Start-ups showing interests in creating better solutions to energy producers and consumers
- Technologies that lower the cost of solar and wind power, enhances the energy storage capacity and boosts the battery efficiency creating investment opportunities.
- Incorporating AI, Block Chain and IoE into practise will change current business structures and procedures used in the energy industry.