According to the stats, the energy sector is one of the fastest-growing industries. Still more, the sector is poised to grow even further in the coming years. One of the main reasons why the sector is accelerating quickly is technology. On those lines, here are key trends that are making the business energy industry flourish.
Solar
According to the HIS Markit, solar power installations are expected to grow by 30 percent in the coming few years. Perovskite is even raising more expectations. More people are likely to turn to solar energy to heat their homes. Businesses will turn to solar power to cut overhead costs. Still more, floating solar is projected to achieve great milestones in the future. In the future, floating solar will put to rest the debate that surrounded the land/energy debate.
Wind
Research shows that the demand for turbines will continue to grow. Wind energy will continue to shape the energy industry. Floating winds will help more and more homes get reliable energy. Eco-friendly, wind energy is being accepted in different parts of the world. It promises great sustainability, especially when it comes to running businesses. Switch to wind energy and make your business sustainable today!
Storage
The demand for commercial lithium batteries is falling. The prices are falling. This has prompted the integration of solar and storage in green hydrogen. Still more, the rise of Gigafactory is quickly changing the energy industry. That’s why investors are continually investing in large-scale battery-based storage units. These storage facilities are aimed at complimenting wind energy as well as solar power.
Digitization
The energy industry is in serious need of a resilient, flexible, as well as sustainable infrastructure. However, the world needs smarter and clean cities. That’s why industry players should come up with effective protections and automation systems to manage different devices that are connected to the main grid. Digitization will help bring energy storage systems and other management software on board.
AI
The grid is projected to get smarter. Thus, the energy sector will need solutions from AI for the management of complex operations. You can expect wind energy to be managed more efficiently. On the corporate scene, AI will play a key role when it comes to the management of energy use. Ultimately, companies can save a lot of money on energy bills. As an energy manager, you can bank on AI to monitor energy use in your company. AI will be instrumental when drafting energy audit reports. You can easily sport areas where you lose energy.
Switch To Better Energy
It’s time for your business to think about reducing energy bills. Do away with energy wastage. Leverage technology to monitor energy consumption in your company. If possible, switch to renewable energy. You can still change your energy supplier.
The Bottom-Line
The above trends are quickly changing the energy industry. From solar to AI, these are the trends that will make the sector thrive even further.