Climate change is all over the news. Regardless of how much people deny climate change, we are all starting to feel its impact. This applies to everyone regardless of which part of the world you live in.
The disastrous effects of climate change go hand-in-hand with the way we consume energy. Fossil fuels remain the world's primary source of energy. However, fossil fuels are an unsustainable source.
It affects both the environment and our health.
Thankfully, companies and private individuals are coming up with renewable energy solutions. But what are these sustainable energy examples that are worth considering? What are these alternatives that even world governments should seriously start to look into?
Continue reading below as we discuss a few of them.
Sustainable Energy Examples Worth Implementing
Time is of the essence when it comes to addressing climate change. Sooner or later, fossil fuels will run out. That is if the world doesn't do anything to conserve energy.
Let's take a look at six sustainable energy examples that will benefit not only this generation but the coming ones as well.
1. Crowdfunded Solar ProjectsMosaic, a company in Oakland, California, spearheaded a crowdfunding initiative for solar projects. The company opened the project to investors who bought a share for as little as $25. For every share in the solar project, the investors will receive a dividend.
The loan obligation then generates a cash flow from which the dividends will come from. Since investors shelled out their hard-earned money, they somewhat have an attachment to the solar projects.
Furthermore, the investment also appealed to people who became wary of financial markets due to the 2008 financial meltdown.
The company's first project is a 47-kilowatt installation. They built it on a youth employment center in Oakland. The employment center will save over $160,000 in electric bills because of the installation.
The concept draws similarities to the Government RHI.
2. Wind-Plus-StorageUtility companies and renewable energy developers are starting to embrace the wind-plus-storage concept. This involves integrating batteries with wind power projects.
Back in 2017, offshore wind also came into play. Danish power company Orsted announced they are installing battery storage for the Burbo Bank project. The project featured 90 megawatts of offshore wind.
It is true that some quarters feel that solar-plus-storage is the more viable option. However, companies in the United States, Sweden, France, and Spain remain keen on wind-plus-storage projects.
3. IoT and Energy BlockchainBlockchain technology is evolving and expanding toward the energy market. Blockchain started as a tool to record cryptocurrency transactions. It is like a ledger that keeps track of transactions via a peer-to-peer network.
Since it involves a peer-to-peer approach, it eliminates that need for middlemen. This concept is what companies are trying to apply to the energy market.
Blockchain technology will eliminate electric suppliers' middlemen. In turn, it will empower consumers who can now directly buy and sell electricity from their fellow consumers.
This wonder of the blockchain technology can work hand-in-hand with the Internet of Things (IoT). This means everyday devices will now feature blockchain technology.
Through certain applications, you can program your devices to buy and sell electricity. You can do so during the best times of the day. Your devices can also optimize their energy settings in a real-time fashion.
They can also analyze the performance of devices that consume energy.
The Brooklyn Microgrid is already implementing energy blockchain technology. They put up a project featuring a microgrid that the community powers. The owners buy and sell energy from one another using blockchain technology.
4. Waste-to-EnergyThe waste-to-energy approach is like turning garbage into gold. In New Delhi in India, for example, the government looks to create a waste-to-energy plant. This is in line with the city's landfill problem.
They need 7% of the land to make room for the city's waste. Through waste-to-energy initiatives, the need will likely find a solution. The plant will process a third of the city's total waste.
Meanwhile, waste-to-energy solutions are already in full swing in China. China Everbright International already manages at least 18 waste-to-energy projects in Shandong Province.
5. AI and MicrogridsAnother promising way of generating sustainable energy is by combining microgrids and Artificial Intelligence (AI). Microgrids are local energy grids. They are flexible in the sense that they can connect to bigger traditional grids or operate on their own.
They work best during emergencies where continuous energy supply is paramount.
When you incorporate AI into microgrid controllers, you can enjoy continuous improvement and adaptation of operation. This is because of the AI's machine learning capabilities.
Interestingly, the WorleyParsons Group partnered with tech company XANDEE. The two developed a toolkit for microgrid design. The toolkit makes turnkey solutions more available in as much as 90% less the cost and time.
6. Climate BondsLast but not least are the climate bonds. This involves a global pool of capital. The capital backs various kinds of projects that fight climate change.
The climate bonds encompass various projects and initiatives.
The capital can support projects like waste management, land use, sustainable forestry, and renewable energy. It also funds water and energy initiatives, clean transportation projects, and biodiversity programs.
To ensure the quality and sustainability of the bonds, the Climate Bonds Initiative partnered with some of the world's major banks. The banks assist in setting up the eligibility standards, as well as the insurance and certification of the bonds.
Currently, the climate bond market stands at $72 billion. Additionally, the total issuance is growing at a rate of 25% annually.
As more entities continue to show support, transitioning to sustainable energy becomes faster.
Improve the World's Energy Efficiency
With these sustainable energy examples above, there is hope for future generations. Though politics and other factors may cause hiccups along the way, private individuals like you can chip-in on the move toward renewable energy.
We invite you to check our different articles on energy-efficiency and green solutions. We feature different projects that focus on conserving energy. We also discuss tips and tricks that help homeowners and industries improve their energy consumption.
