At the moment, many countries are pinning their plans of recovering from the pandemic-induced economic downturn on investments that will be directed towards developing or deepening green technologies, such as electric vehicles and renewable energy. However, the catchy phrases being flashed around will not help the world operate more sustainably if careful planning isn’t directed towards making the leap workable in the long term.
For example, making the switch to renewable forms of energy, such as solar and wind energy, to quickly can leave economies at the mercy of the fickle weather. This could have devastating consequences when not enough sunlight is available to capture solar power or when wind strengths are so low that wind turbines are unable to work.
Such supply shocks can easily make renewable energy prohibitively expensive, and that would make the dream of 100% sustainable energy undesirable and even unworkable.
A sudden total switch would also reveal how deficient countries around the world are in regards to mass storage capacity for the energy generated within the windows when ample sunlight or a sufficiently strong wind exists to generate electricity.
So, what is the way forward?
Now is the time to be real about the practical issues that may impede the dream of delivering or using sustainable technologies. For example, the public in many parts of the world isn’t yet fully sold on switching to electric vehicles because of a valid concern about the limited charging infrastructure available.
In the spirit of confronting head-on the challenges to a sustainable future, Cranfield University is working with the UK government to establish an app that will facilitate peer-to-peer trading of energy needed to charge EVs. The plan is to link EV owners with excess battery power to those who need it. The exchange can take place at cafes or charging stations which are privately owned.
Another example of the way in which the anticipated challenges of switching to renewable energy can be addressed is by developing drones that can enable tech teams to remotely monitor offshore wind farms. Currently, it is expensive and inefficient to send crews in chartered ships to provide information and to monitor these wind farms. By using drones to inspect the wind turbines, costs can go down and system reliability can be improved.
Such efforts can ensure that consumers can adjust their behavior and make better choices so that the way they collectively live undergoes a paradigm shift to more sustainable technologies.
Net Element (NASDAQ: NETE) is a company you ought to watch in the green energy space. Early in August, this global financial solutions firm announced that it was merging with a California-based EV manufacturer called Mullen Technologies Inc. All eyes are on how the new entity will fare in the electric vehicle space.
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