Energy has been a point of conversation all around the world, with rising demands and costs, the conflict in Ukraine, and the fallout from the COVID-19 pandemic.
Many countries around the world are making changes. While some countries are making innovative switches to renewable sources, countries like Africa are considering slowing down energy production. Hussain al Nowais has commented on this, suggesting that this kind of action in Africa will only slow down its development. The energy landscape is rapidly changing, and the world appears to be evolving for the better.
Considering the current world affairs, here are some of the most important features of what energy around the world will look like in the future.
#1 Increase in hydroelectric capacity
Hydropower works to generate electricity by collecting and harnessing the energy created by falling water. It is then transferred from kinetic energy to mechanical energy to electrical energy through a complex process using a turbine and a generator. Even though countries have seen challenges around the costs and limitations of available sites, it is still set to grow and continue to be the world's primary source of renewable power.
#2 Solar power is more accessible
The future of solar power is exciting. It has been predicted that solar power is going to significantly reduce in costs, which will help it grow even quicker than it already has, to be 60% of the world's renewable growth. At the same time, solar PV-based power and coal-based power will see a decline in the future, and eventually become unprofitable. Solar power offers a lot more freedom than other energy sources, which is why once the cost is reduced and it is made more accessible, the world will see solar power skyrocket. There will also be many variations of solar panels that enable an increased capacity and a higher DC to AC ratio so energy can be more consistent.
#3 Surge in onshore wind energy
The capacity for wind power is becoming more important, which is going to significantly increase the growth of its use in the future. Due to competitive auctions around the world and new legislation constantly being introduced, costs can stay low, which keeps wind energy accessible. As well as onshore growth, the world can also expect to see huge growth in offshore wind energy.
#4 Increase in geothermal capacity
Geothermal energy is pumped through a well from deep underground. The high pressure pushes the water to the surface and then the pressure drops so that steam can be produced and spin the turbines to create electricity. Once it has cooled, it is released back to the ground to restart the process.
The demand for efficient heating solutions is increasing around the world, especially in America. This has pushed many policy changes, such as a transformation of building codes, that will enable different types of energy to be used in residential and commercial areas.
The future of energy is renewable. Fortunately, many changes are being made all around the world to support positive changes.
