Summary
- Increased investment in solar and wind power
- Growth of energy storage technology
- Advancements in offshore wind and floating solar
- Rise of green hydrogen production
- Integration of renewable energy with digital technology
Increased Investment in Solar and Wind Power
The trend of increased investment in solar and wind power is expected to continue beyond 2024. This is driven by declining costs, improved technology, and growing awareness of the environmental benefits of these renewable energy sources.
Growth of Energy Storage Technology
Energy storage technology, such as batteries and pumped hydro storage, is becoming increasingly important for balancing the intermittent nature of renewable energy sources. This trend is expected to continue as the demand for reliable energy storage solutions grows.
Advancements in Offshore Wind and Floating Solar
Offshore wind and floating solar projects are gaining momentum as technology improves and costs decrease. These trends are expected to continue beyond 2024, with offshore wind in particular becoming a key player in the renewable energy landscape.
Rise of Green Hydrogen Production
Green hydrogen, produced using renewable energy sources, is expected to play a significant role in the transition to a low-carbon economy. The trend of increasing investment and research in green hydrogen production is likely to continue beyond 2024.
Integration of Renewable Energy with Digital Technology
The integration of renewable energy with digital technology, such as smart grids and advanced analytics, is expected to optimize the performance and efficiency of renewable energy systems. This trend is likely to continue as digital solutions become more sophisticated and cost-effective.