This year seems to be extremely promising for the renewable energy sector. With an increasing number of nations and organizations embracing sustainable techniques for energy generation, new renewable energy trends are bound to gain momentum. In fact, renewables are now a mainstream option in the power sector in nearly all parts of the world. Renewable energy technologies have also proven to be reliable and now provide the lowest-cost power generation options in many situations. Based on the global trends in renewable energy, our industry experts have curated some of the biggest renewable energy trends that are likely to make an impact in 2019.
Renewable energy trends
One of the key renewable energy trends that are increasingly gaining popularity right now is energy storage. It plays a vital role in balancing the demand and supply of power and also has the power to tackle intermittency issues of renewable energy. By pairing a storage system with a renewable energy source, smooth and steady power supply can be ensured even when the weather conditions are not optimal for energy generation. Batteries are the most common storage devices used in renewable energy systems. The use of these devices is seeing an increasing trend on both residential as well as commercial level.
Deployment of microgrids
Microgrids are local energy grids that have the power to operate either autonomously or when connected to a larger traditional grid. Such renewable energy industry trends are extremely favored due to their ability to offer energy independence, efficiency, and protection during emergencies. Furthermore, artificial intelligence and machine learning capabilities can be used with microgrid controllers for continuous improvement of operations.
Grid parity and declining costs
Grid parity occurs when an alternative energy source can generate power at a cost and performance level that is equal to or lesser than electricity generated from conventional methods. Solar and wind energy have reached parity in both price and performance in many regions, and new technologies continue to optimize their competitive edge. Moreover, traditional models of large, top-down and centrally distributed energy production are being replaced by renewable energy trends that are modular, consumer-driven and evenly distributed power generation.
Renewable energy trends in developing countries
When talking about exciting new renewable energy trends and innovations, we often overlook the fact that a significant percentage of the world’s population remains without access to energy at all. While some have unreliable or prohibitively expensive energy sources, others remain without access to energy at all. Although politics often stand in the way of progress, new energy technologies and commitments to promote renewable energy trends from international groups like the World Bank are laying a foundation for providing energy access to developing countries. With their ever-improving cost and performance metrics, we can expect to see renewable energy trends and innovations increasingly deployed to provide power to developing nations.