Renewable Energy: Global Scenario in 2024

Welcome readers and Entrepreneurs in the Blog post of ‘Renewable Energy: Global Scenario in 2024’. The Blog post explore what is renewable Energy sector with Non-renewable resources, Commodities, major global players in this sector, bio-energy, business Opportunities and benefits of Renewable Energy.

Development in the areas of transportation, industry, agriculture, and electricity is used to measure a one nation’s progress. Sustainable development is achieved through the use of renewable energy. It is said that the country that have power in this energy will lead the rest of the world. One nation’s demand for energy has increased and therefore as a result of this the country’s economic expansion, rising prosperity, rapid urbanization, and rising per capita energy consumption also increases. Here are some Renewable Energy concepts that we suggest all business people to adopt because the time has come to live sustainably. Let’s enter in an era of renewable energy.

What are Renewable Energy and its resources

The renewable energy is changing global economy of power sector. As developed or developing nations, must ultimately make clean, renewable energy that are economically viable form of energy. If we area as a nation able to significantly transform our economies, safeguard our security, and save the planet from the ravages of climate change.

Renewable Energy is generated by utilization natural resources, which are the renewable, cannot be exhausted over time.

The most widespread renewable energy technologies are as follows:

• Wind
• Solar (photovoltaic; solar thermal)
• Geothermal
• Biomass
• Low-impact hydroelectricity
• Biogas (e.g., landfill gas/wastewater treatment digester gas)
• Emerging technologies – wave and tidal power

Non-renewable resources eventually run out. Fossil fuels are non-renewable resources like Petroleum and coal. We must also consider the global human health when considering when expanding our economic growth. Pollution from power plants causes higher health costs that are we have to pay. Coal-fired power plants produce more than just carbon dioxide, which is a factor in global warming. Additionally, the burning of coal releases Sulphur dioxide, Nitrogen Oxide and mercury. All of which are harmful to people’s health worldwide. Although China and the US are the countries that produce the most coal. India’s power plants are not behind this. The world is currently undergoing a significant transition to renewable energy. We must make a rapid transition away from fossil fuels. Emissions from renewable energy sources are negligible to global warming emissions.

Major global players in Renewable Energy

In today’s world, renewable energy sources like solar, wind, biomass, hydro, and geothermal are the main sources of electricity. In today’s world of renewable energy, we all known ‘Wave Energy’ of Europe, ‘Solar Power’ of Australia, and India’s ‘Wind Energy’ initiative are always in the news.

Japanese ‘wind lenses’ with new renewable technologies focus the wind flow.  The wind lens has a relatively straightforward design; a sizable hoop known as a brimmed diffuser intensifies wind blows to turn a turbine in the center.  Researchers with the EU-funded project Osmotic Power have shown how reverse electro dialysis using brine in combination with seawater or even brackish water can produce cheap, clean energy.  Today the market for renewable energy is expanding as zero-carbon economy.

Let’s examine the major global players that have production capacity in power. However, every nation most valuable resource is electricity. The top six nations produce and consume the most energy. China has capacity 545.2 GW of renewable energy production and 214.7 GW of US renewable energy production capacities. Brazil has 122.9 GW, Germany has 105.8 GW, Canada has 96.6 GW and India has 90.7 GW of renewable energy production capacity.

India’s renewable energy sector

No one disputes the fact that India, with a population of 1.3 billion, is the fourth-largest carbon emitter in the world, with the power sector playing a significant role. However, India has advanced significantly in the field of renewable energy in recent years. India’s renewable energy sector has the potential to create more jobs, as well as clean energy production for millions of homes and businesses.

Bhakra Nangal Hydro power Dam that has capacity to create 1500 MW of Power was the first project before the independence of India. India has abundant energy of Wind and Solar but it actual use of this power is still untapped. The main reason for that is political will and lack of useful technology.  Use of perfect technologies India can achieve target of renewable energy. The pursuit towards cleaner energy will have a crucial role in enabling the country’s transition to a fully sustainable energy system.

About 80% of India’s crude oil needs are met by imports. This needs to decrease by 10%. It is necessary to investigate the exploration possibilities in India for this. Only about half of the sedimentary basins have been surveyed and about 75% of sedimentary basins have not yet been thoroughly explored in India. Therefore, the need for gathering, processing, and interpreting data is crucial for India. India needs to think outside of fossil fuels. Renewable fuel costs are gradually declining worldwide. India must increase the proportion of clean energy sources like natural gas in its energy mix to boosting the economy and bringing about job growth and renewable energy is clearly the way to go ahead. India’s growing demand of electricity. Although there is ongoing supply-demand gap, India is in a good position to accomplish target of renewable power generation with the right investments in green technologies. This is significant because India’s transition to a fully sustainable energy system will be made possible by the pursuit of cleaner energy sources. In Indi with nearly 293 domestic and international companies committing to produce 266 GW of solar, wind, mini-hydro, and biomass-based energy in India over the following ten years, the future appears promising.

With a gross generation capacity of 3,210 MW from clean, non-fossil sources and as one of the world’s top players in the renewable energy sector.  India is on the stage to achieve renewable energy targets of fully sustainable energy system by doing right investment in green power technologies with lofty goal of producing 175 GW of renewable energy, which will come from a combination of 100 GW of solar energy, 60 GW of wind energy, 10 GW of biomass energy, and 5 GW of small hydropower.

Benefits of Renewable energy

Future energy will be sustainable, green, and renewable by utilizing renewable energy that has both environmental and financial advantages, such as:

• reducing some types of air pollution

• Diversifying the energy supply and reducing reliance on imported fuels.

• Fostering economic growth and employment in the manufacturing, installation, and other sectors.

Bio-energy

A form of renewable energy known as “bio-energy” is derived from biomass and used to generate heat, electricity, or liquid fuels like ethanol and biodiesel for transportation.

List of Renewable Energy Commodities

Grains like rice, wheat, and corn

Animal-sourced leather and meat

Vegetables and fruit

Trees provide oxygen, paper, and furniture.

Butanol and acetone, two bio-based chemicals

A Few Renewable Product Examples Name some notable grains, such as wheat, rice and corn

Meat and leather are made from animals

Fruits and vegetables

We get our oxygen, furniture, and paper from trees

Bio-based substances such as butanol and acetone

Biodiesel can be produced from a variety of natural oils, including soybean, palm, vegetable, and sunflower oils

Algae

Algae are some phototrophic microorganisms; they take sunlight and convert organic facts into biomass. This biomass can be use to develop

biofuels like ethanol. Alternately, we could use fatty algae—many strains of which accumulate large amounts of fat—and turn that fat into biodiesel.

Bacteria

Pick up electrons from the bacterium and transfer them to an electrode in this process. This makes it possible to capture an electrical current from the bacteria in real time, as they are effectively eating. This research advances our knowledge of extracellular electron transfer in bacteria.

Alcohol – used in the production of biofuel

Water

Water is both a source of drinking water and a requirement for hydropower.

Methane gas – methane can produce biogas when it occurs naturally in the environment, such as in manure.

Solar

Thermal generation, such as geothermal heat pumps or solar thermal systems.

Hydrogen

High-Efficiency/Low-Pollution Hydrogen

Despite being the most common and basic element in the universe (it only has one proton and one electron), hydrogen does not naturally occur as a gas on earth. Instead, it can be found in water (H2O) and organic compounds (hydrocarbons like gasoline, natural gas, methanol, and propane). Some bacteria and algae can also produce hydrogen in specific circumstances by using sunlight as an energy source.

Renewable Energy Business Opportunities

There are some of the global investment trends that are include a greater reliance on renewable energy sources and the creation of new, smarter, more resource-efficient cities that can accommodate future administrative requirements. MSME, must transition to a green growth economy. Entrepreneurs might take a chance because that may be Big Players’ Opportunities.

Some of them are as follows:-

• Solar panels sales, distribution, marketing, installations
• Bio-fuel production
• Installation of Wind Energy
• Solar-powered refrigeration
• Energy Management (Inverters & UPS)
• Solar panels and/or modules
• Water heating using solar energy
• Solar water pumping system
• Electric cars
• Bio-fertilizer
• Rooftop Geothermal Energy Auditor solar photovoltaic (PV) panel systems.
• Windmill
• Sun Oven
• Heater for Solar Water
• Wind Energy Installation
• Solar cells
• Compressed biogas
• Solar power packs/micro grid, inverters, batteries, solar street lights, solar home lighting systems, solar air conditioning, and any other solar PV
• The Telsa powerwall (and other large rechargeable batteries of a similar design) aren’t technically renewable energy sources, but they do work well with any home renewable generator and can even save you money on their own.
• Kinetic energy converters that produce electricity from pedaling stationary bicycles

Conclusion

Just a few words to wrap up. There might be obstacles, such as geographical restrictions and others, but we must proceed. Let us protect nature so that the future will be better for us. When it comes true, renewable energy has the potential to boost employment and public health. We can direct the sail and this is energy, but we cannot control the wind that will create energy. We hope with this blog positive energy of entrepreneurship will be spreads quickly. Keep Reading! Thank You.

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