A New Age of Energy
Scientists refer to the current era as the “Anthropocene,” or “Age of Man.” With this era comes a revolution in the way we harness and use energy. And with this energy revolution comes the the opportunity for investment.
Back in the late 1800s, the world was dazzled at the first World’s Fair by a brilliant display that included more than 100,000 light bulbs and drew a record amount of power. The priority has since shifted to renewable energy.
The term “renewable energy” refers to power that comes from sources that replenish themselves. Examples include wind, sunlight, rain, and geothermal heat. Last year, renewable energy made up about 19% of the Earth’s energy consumption. As society strives towards a future in which over 50% of our energy comes from renewable sources, it would be wise to invest in these new technologies.
Consider the solar panel, which is expected to reach grid parity within the next five years. When this happens, solar power will claim a huge piece of the global electrical generation portfolio.
Technology Convergence
Thanks to new interfaces and technologies that work with solar systems, solar power is gaining new and exciting applications that will strengthen its impact worldwide.
According to the SEIA (Solar Energy Industries Association), more and more solar companies are combining their systems with new products and services. We will see more of these integrated offerings as technologies and components become more cost-effective.
Energy Storage
Thanks to innovations in battery technology, energy storage has become a highly promising area. Advances apply to large format batteries as well as battery systems used in small devices. With efficient and reliable energy storage, commercial solar owners can save money and optimize solar generation as well as provide residential customers with backup power during grid outages. In fact, many solar installation companies already offer this option.
With advances in energy storage comes an increase in the installation of microgrids and nanogrids. “Historically, electricity generation has been pretty much controlled through utilities. Now, we’re getting an opportunity for a totally distributed model,” says Lisa Salley, Vice President of Energy and Power Technologies at Underwriters Laboratories. In her opinion, these advances signal a “huge paradigm shift.”
Salley’s distributive energy model has folks betting against other forms of renewable energy. She predicts full integration between solar photovoltaic (PV) systems and energy storage by the year 2020. With smart technology in place, solar systems will include load control meters to help optimize energy consumption.
This smart technology will also allow a 2-way flow of information and money between the power companies and the solar owners, who in effect will be selling the excess power their systems generate back to the utility company for bill credit. Places that can’t afford to lose power, such as hospitals and data centers, will have their own private grids.
If you’re looking for reliable investment opportunities within the sphere of renewable energy, we recommend you look towards the sun.
