Through data analysis from national energy network data, it was revealed that Portugal was able to meet its energy needs through renewable energy alone for four consecutive days. This zero-emission milestone is thanks to a combination of solar, wind, and hydro power that lasted for 107 hours.
Meanwhile, Germany announced that clean energy powered all its electricity requirements on May 15th, and that energy prices dropped so low they actually went negative. Trends like these are continuing across Europe. Wind power delivered 42% of Denmark’s electricity needs, 20% of Spain’s, 13% of Germany’s, and 11% of the UK’s electricity demands in 2015.
With countries like China and the United States making efforts to move away from coal-powered energy, renewable energy is shaping up to be a major market opportunity in the coming years. Home energy storage is becoming economically feasible with development of new batteries by companies like Tesla, and energy companies are starting to incorporate more distributed generation.
Opportunities in Renewable Energy
There are fantastic opportunities available to businesses that embrace and develop renewable energy solutions. AQUALGAE has seen success in developing algae products that can be used in anything from liquid fuels to pharmaceuticals. Meanwhile, UNO-LUX Processing has been using highly automated factory processes to efficiently produce parts for wind turbines.
The University of Texas has invested in its own energy generation methods, and has been able to develop an energy model that allows it to produce utilities for a campus the size of a city! With the help of InduSoft Web Studio, the biggest challenge of the project – energy metering – has been solved in an exceptionally innovative way.
The International Energy Agency has stated that “renewables are expected to be the largest source of net additions to power capacity over the medium term. They account for almost two thirds of the expansion by 2020, with nonhydro sources nearly half of the total. The renewable share of generation rises from 22% in 2013 to over 26% in 2020 and renewable generation reaches a level more than today’s total combined demand of China, India and Brazil.”(2015 Medium-Term Market Report)
With petroleum and coal extraction costs rising and prices following, InduSoft expects we will see a bright future ahead for renewable energy, particularly as government policy falls in line with agreements made at the Paris Climate change Conference in 2016.