The renewable energy market has experienced unprecedented growth in recent years and it’s set to have a big future, this is largely thanks to the rise of digital technology. According to a report by The International Energy Agency (IEA), renewable energy capacity will grow up to 50% by 2024 – and this growth is mainly being fuelled by solar, wind and hydropower projects. Research has found that renewable energy is expected to take up around 30 per cent of the world’s total energy by 2024. So, with renewable energy expected to power the earth, let’s take a look at the impact technology is having on the market, as well as the most important technological trends in the sector right now.
The rise of Artificial Intelligence
The arrival of artificial intelligence in the renewable energy markets has paved the way for a range of opportunities for leading companies to grow and evolve their processes, to ensure they’re more sustainable than ever before. There’s no doubt that artificial intelligence will have a huge impact on the future of renewables. With the help of AI software, energy storage in facilities, such as office buildings and homes can hold excess energy when demand is low. AI technology can improve renewable energy storage and optimise its use. Therefore, AI has the potential to re-shape the energy sector from an infrastructure-based system to one centred on automated AI technology. There’s a wide range of technologies that use renewable energy spheres, such as energy forecasting and energy accessibility. For example, Google DeepMind – introduced in 2014 – is an AI application that works to improve energy usage and reduce emissions. AI applications can support the renewable energy sector when it comes to integration and help to accelerate the use of clean energy sources worldwide.
As the world’s most popular platform to buy bitcoin, the technology is providing a new level of sophistication to energy suppliers and increasing efficiency as a result. There’s an array of companies that are utilising blockchain for renewable energy. For example, We Power uses a blockchain platform, allowing customers to monitor renewable energy prices, as well as help clean energy producers enter the market. The company explained in a white paper that they believe blockchain and renewable energy has the potential to revolutionise the energy market. Blockchain makes the supply of green energy much more efficient and transparent, as all transactions are traceable and secure. Therefore, renewable energy certification can be delivered much faster, allowing all parties to audit the results. Blockchain, then, is changing the way companies collaborate, as well as how energy is produced and consumed, creating a much more sustainable energy system.
Big data technologies have made a considerable impact on a wide range of industries. In the energy sector, however, oil-field production companies can use big data to streamline operations and manage the day-to-day operations of solar plants more efficiently. With the use of data, companies can dictate how many solar panels and wind turbines to produce and build a better picture of how power is used and when it’s most needed. Big data has become essential because it means energy providers can identify how to store and distribute energy generated from solar panels. Ultimately, big data is changing the models of renewable energy and power generation, while providing energy companies with an in-depth understanding of customer behaviour. As a rapidly evolving market, renewable energy relies on the power of technology to sustain its developments.
How Petroplan can help your business
At Petroplan, we have an excellent team of consultants with many years of experience in recruiting the best professionals for a range of global companies in the energy sector. Since 1976 we have made 1000’s of successful placements and built many valuable partnerships in the Energy industry. Our technology recruitment team has grown to become one of the most successful parts of our business. We’re heavily invested in the renewable energy sector, and our global IT team work hard to keep up-to-date on all the changes in the market. As a leading global talent acquisition and workforce solutions partner, we have specialist expertise, we pride ourselves on our ability to deliver a quality and efficient service. If you would like to know more about how we can assist you acquiring the best talent, contact us today.