If renewable energy is the future of the power industry, what will it look like? It will change the face of the world’s energy system. It will help boost productivity in every sector and shield economies from volatile fossil fuel prices. Good agricultural infrastructure, manufacturing industries, health facilities, and small and medium enterprises are all built upon reliable sources of energy. Additionally, renewable energy will help mitigate the damaging effects of climate change, as well as lower greenhouse gas emissions. In addition to boosting agricultural productivity, clean energy will help improve the health of many citizens.
The emergence of decentralised electricity assets and increasing digitalisation have led to new opportunities for consumers to become active participants in the energy transition. In many countries, the rise of renewable energy has led to record increases in their share of electricity consumption. India, the US, and Italy all set records for variable renewable energy integration. These developments were enabled by government policies, regulations, and incentives. The development of digital technologies such as artificial intelligence, internet-connected devices, and vehicle-to-home smart charging, has also helped increase renewable energy penetration in the power sector.
One way to use renewable energy is by installing solar panels in space. This would enable us to capture sunlight and convert it into electricity on a human timescale. This will also eliminate the need to store excess energy and reduce the impact of bad weather and dark nights on the grid. In addition, the use of solar energy in space would offer an endless supply of power. It could even deliver more energy in one hour than the entire human population would need in an entire year.