Green energy has gained increased attention in recent years due to growing concerns over climate change and the finite nature of traditional energy sources such as fossil fuels.
Nobody wants them in 2023. The path of progress (and the investment opportunities) are in clean energy.
The future of green energy is an exciting and rapidly evolving field.
New technologies and innovations are being developed all the time to make sustainable energy production more efficient and accessible.
For example, new research from Australia says that it’s possible to split seawater to produce green hydrogen.
Green hydrogen is poised to be one of the most revolutionary sources of clean energy in the decades to come.
Wind and Solar Are Still Key Elements of the Green Transition
One of the major trends shaping the future of green energy is the rapid advancement of renewable energy technologies.
Wind and solar power, for example, are becoming increasingly cost-competitive with traditional forms of energy, making them more accessible to consumers and businesses alike.
On a per-megawatt basis, wind and solar run at about $24/MWh, while coal is at $36/MWh.
As a result, the demand for green energy is expected to grow significantly in the coming years, driving further innovation and investment in the sector.
Another key trend that is shaping the future of green energy is the growing focus on energy storage solutions.
Clean energy generation cannot make a huge change without a way of storing energy. Wind and solar installations don’t work 24/7. Sometimes they produce excess energy, which needs to be stored and released later when the demand for energy is high.
With the increase in renewable energy production, it is becoming increasingly important to find ways to store excess energy so that it can be used when it is needed, rather than relying on traditional forms of energy that are often dirty and expensive.
This has led to a surge of investment in battery storage technologies, with companies racing to develop new and innovative solutions that will make renewable energy more practical and accessible for a wider range of consumers.
Non-conventional storage solutions also emerge.
One solution that we have on our radar is salt domes. Salt mines can be filled with hydrogen, and, according to CNBC, the “salt cavern revolution” could be an $11 trillion trend.
In addition to technological advancements, the future of green energy is also being shaped by changing attitudes and policies around the world.
Governments and businesses are becoming increasingly aware of the environmental impact of traditional forms of energy and are taking steps to promote and invest in renewable energy.
This is resulting in increased investment in green energy infrastructure, as well as incentives for businesses and consumers to adopt sustainable energy practices.
The US and the European Union are competing against each other to create the best possible environment for green energy investment to flourish.
Multinationals are racing to invest billions of dollars in the US to capture clean energy incentives.
The EU wants to keep its clean energy champions close to home.
This competition is a great setup for green tech companies. They can pick the best place to operate and invest their funds in.
Despite these positive developments, there are still many challenges that must be overcome in order to realize the full potential of green energy.
One of the biggest obstacles is the cost and accessibility of renewable energy technologies, which remains a barrier for many consumers and businesses. In addition, there are still concerns about the reliability of renewable energy sources, particularly in regions with limited sun or wind resources.
These regions may realize the benefits of nuclear energy, the safest and cleanest source of energy out there.
In conclusion, the future of green energy is bright and full of potential.
With continued advancements in technology, changing attitudes and policies, and increased investment and support, renewable energy is poised to play a critical role in meeting the world’s growing energy needs while reducing the negative impact of traditional forms of energy on the environment.
As the world moves towards a more sustainable and environmentally responsible future, the importance of green energy will only continue to grow.
As will, in our view, the opportunities to profit from this trend.
Thank you for your loyal readership,
The Financial Star team