September 02, 2022
It's hard to believe that, as we're writing this post, about 80% of the world still relies on fossil fuels to some extent or another. We know that climate change is a looming crisis and it seems like the transition to cleaner energy sources should be among the most urgent priorities in our time. But let's take a step back and look at the bright side: We have a lot of creative minds working hard to create alternatives to avoid our dependence on fossil fuels.
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In today’s rapidly changing global environment, renewable power generation projects have
become nimble, sustainable, and innovative. Onshore and offshore wind
power, solar, and geothermal
sources contribute to generating clean and renewable energy.
Many emerging energy sources like hydrogen, wave and tidal
energy already show great promise.
ONSHORE WIND
Onshore wind power generation is the oldest form of
renewable energy and more than 60 countries have already started using it. It
has the added benefit of being renewable and environmentally friendly, as
opposed to green energy sources such as solar or nuclear power. There are a few
types of onshore wind turbines that produce electricity for homes and
businesses, but these models are too large to provide electricity for smaller
communities.
OFFSHORE WIND
You might be surprised to hear that the fastest growing form
of renewable energy is wind power – and it's not even close. There are hundreds
of billions of dollars going into offshore wind farms all over the
world, and many other forms of renewable energy have experienced a surge in
growth as well.
The cost of wind turbines has come down over the years and
now most installations run at cost-competitiveness with fossil fuel-based power
sources.
SOLAR
Solar power generation projects are constantly introducing
new technologies and more extensive facilities and, in many countries, the solar
capacity has already exceeded the target capacity set for 2022 as governments
keep setting ambitious targets for decarbonization. Many projects paused during
covid-19 lockdowns are getting back to work which means an increase of 32% in PV
capacity according to BloombergNEF.
GEOTHERMAL ENERGY
Geothermal energy is one of the most promising renewable
energy sources and its use for power production, heating, and cooling buildings
through geothermal heat pumps is increasing.
WAVE AND TIDAL
Ocean wave and tidal current energy are the two types of ocean energy that are most advanced and are expected to contribute significantly to the supply of energy in the future. The global wave and tidal energy market size was valued at USD 1233.21 million in 2021 and is predicted to reach USD 28802.48 million by 2030, increasing at a CAGR of 41.92% from 2022 to 2030.
HYDROELECTRIC
Hydropower, or hydroelectric power, is a renewable source of
energy that generates power by using a dam or diversion structure to alter the
natural flow of a river or other body of water. Hydropower supplies one-sixth
of the world's electricity, almost 4500 TWh in 2020, which is more than all
other renewable sources combined.
BIOENERGY
Bioenergy is one of many diverse resources available to help
meet our energy demand. It is a form of renewable energy that
is derived from recently living organic materials known as biomass, which can
be used to produce transportation fuels, heat, electricity, and products.
HYDROGEN
Hydrogen is a clean fuel that, when consumed, produces
only water. It can be produced from a variety of domestic resources,
such as natural gas, nuclear power, biomass, and renewable power like solar and
wind. Hydrogen is a key component of future energy systems,
especially when it is produced without carbon dioxide emissions.
As the renewable energy industry continues its
upward trajectory, and as concerns about climate change and the demand for
cleaner energy sources continue to accelerate, there will be greater emphasis
on analyzing, designing, building, and operating infrastructure projects that
support the generation of clean energy from natural resources.
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