Technology Solution for Alternative Energy
Data and intelligence has never been more important in delivering clean energy, profitably. As planned capacity grows, so too does the complexity in building effective strategy around new technologies. Emissions profiles vary widely across sectors, companies and assets, creating difficulties when comparing decarbonization journeys. Businesses need standardised data to benchmark their carbon reducing efforts across a relevant peer group. Renewable energy is energy derived from natural sources that are replenished at a higher rate than they are consumed. Sunlight and wind, for example, are such sources that are constantly being replenished. Renewable energy sources are plentiful and all around us. Generating renewable energy creates far lower emissions than burning fossil fuels. Transitioning from fossil fuels, which currently account for the lion’s share of emissions, to renewable energy is key to addressing the climate crisis.
Renewables are now cheaper in most countries, and generate three times more jobs than fossil fuels. Most of the EU member countries get their oil and gas supplies from Russia. In 2019, the EU imported about 40% of its natural gas and about half of its coal from Russia. With many of these countries obligated to cut ties with Russia, it became imperative that they look elsewhere for their energy supplies, a majority of whom decided to do away with fossil fuels and look inwards for their sustenance. This transition means a big deal to the growth of RE as European governments polished their energy policies to expand the attention given to RE. Germany's Renewable Energy, for example, took a transition leap after the invasion because of increased self-reliance on renewables.
In May 2021, Repsol, a Spanish renewable energy company, began constructing its Delta II wind energy project in select provinces in Spain. Wind energy harnesses the kinetic energy of moving air by using large wind turbines located on land (onshore) or in sea- or freshwater (offshore). Wind energy has been used for millennia, but onshore and offshore wind energy technologies have evolved over the last few years to maximize the electricity produced - with taller turbines and larger rotor diameters. Many parts of the world have strong wind speeds, but the best locations for generating wind power are sometimes remote ones. Offshore wind power offers tremendous potential.
Solar photovoltaic panels generate electricity by converting light rays from the sun into electrical energy. However, the ever-shifting direction of sunlight usually impairs the output of solar panels. To correct this, SolarisFloat, a Portuguese renewable energy company, plans to develop solar farms, called Protevs, across Europe that can track the sun’s movement. Solar energy is the most abundant of all energy resources and can even be harnessed in cloudy weather. The rate at which solar energy is intercepted by the Earth is about 10,000 times greater than the rate at which humankind consumes energy. Solar technologies can deliver heat, cooling, natural lighting, electricity, and fuels for a host of applications. Solar technologies convert sunlight into electrical energy either through photovoltaic panels or through mirrors that concentrate solar radiation. On the surface, the above projects demonstrate how much growth Europe is witnessing in its transition to green energy. However, from another angle, they signal how much renewable energy innovations promote intersectionality and vice versa.
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