Next-generation renewable energy
What does the future of green power look like?
Decarbonising the energy system is a momentous task. But the costs of doing nothing are high – as is shown by 2022 research from Oxford University. The study finds that making the transition to a decarbonised energy system by 2050 will save the world at least $12 trillion compared to maintaining the fossil-powered status quo. And, the researchers argue, it's a realistic possibility that we could achieve this goal while providing 55 per cent more energy services around the world than we do today.
This positive projection is a stark contrast to the gloom that pervades much of the public discourse on climate change, and the emphasis many place on how ‘expensive’ the energy transition will be. We also don't need to rely on academic prophesying for a good news story on renewable energy. According to the IEA, solar power is now the cheapest source of electricity in most parts of the world, with wind power – particularly the onshore variety – also falling rapidly in cost in recent years.
This isn't to say we should be complacent or downplay the remaining technological challenges. We still need to boost the deployment of renewable energy to reach our global climate goals. And, just because a technology is already good, doesn’t mean it can’t be better. That includes making it cheaper, more accessible, and more powerful.
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One of the most important areas of focus is on innovations that reduce the up-front capital costs for renewable energy installations and tackle the complexity of delivering these projects. A second key challenge is mitigating the fact that wind and solar power are variable with the weather and the cycle of day and night. Developments in energy storage technology will be part of the solution, but innovators are also exploring new, emerging energy sources that don’t face the same intermittency.
For this month's Future Now report, we've taken a deep dive into the top 10 technologies that are supercharging the green transition, whether that's by making solar power more versatile or transforming the look and feel of wind turbines. These reports are exclusive for Springwise members, so if you aren't already signed up and want to stay ahead of the curve when it comes to the energy transition, explore a membership now .
Our Future Now reports are just a snapshot of the 10 most exciting ideas transforming an industry or solving a particular challenge. Think of it as a thought starter – for some themes, we can only scratch the surface with 10 ideas but there are so many more on the Springwise site to expand your thinking further. With a Springwise membership, you get unlimited access to our Innovation Library , where you can explore even more energy solutions like these: