Sustainable energy is much more than a novel solution. It offers real, tangible benefits for today’s consumers. Sustainable energy solutions have direct benefits for how individuals live as well as for saving money. A lot of innovation has taken place in recent years. Industry forecasts expect growth at an even greater pace in the years ahead.
Defining Sustainable Energy
The University of Calgary makes the distinction between sustainable energy and renewables. It’s Energy Education outlines how even renewables can become unsustainable. As will be discussed in the next section, the best solutions often combine infrastructure in support of emerging renewable energy technologies.
Sustainable energy involves a high degree of predictability. This means that it has dual implications for the currently high operational costs of traditional solutions. Most energy providers are not equipped to match the advanced solutions that sustainable energy technologies can deliver. New solutions offer improved forecasting as well as overall efficiency. It is also worthwhile to note that the return on investment is both predictable and relatively quick.
Saving Americans Money
Doug Healy is a strong proponent of sustainable energies. He discusses how Americans can save a substantial amount of money. Savings can be expected to be greatest over the long term.
According to studies reported by the World Resource Institute, American consumers can expect to save tens of billions of dollars by moving forward with sustainable energy initiatives. The savings are derived from more efficient long-term capabilities of sustainable technologies over that of the current mix of traditional energy products.
Every study showed that cost-cutting was directly related to operations. Traditional energy solutions incur much higher operational costs than renewable energies. This is not to say that old traditional energy products should be abandoned. Rather, infrastructure built with electricity can help to connect networks of renewable energy.
Best case solutions that save Americans the most amount of money over the long-term are still being explored. As it stands now, a combination of efficient traditional technologies is being explored to support initiatives centered around emerging sustainable energy technologies. Savings are expected to be seen by American consumers relatively quickly. It is hard to say exactly how much individuals will save over the short-term due to general disparities and infrastructure. In any case, sustainable energies are widely regarded by experts like Doug Healy as a substantial improvement.
Analysts Indicate a Bright Future for Sustainable Energy
2020 saw increased interest in sustainable energy as the year began. The industry has been growing rather consistently. And this year, according to Deloitte, it was expected to undergo accelerated growth. That is, until the COVID-19 pandemic shook the world. Like many industries, sustainable energy was significantly disrupted.
Driving Factors
The impact from COVID-19 is expected to be temporary. As protocols were being put in place to combat the virus, indicators of sustainability we are still coming back positive. The renewable energy sector saw significant increases in demand across market segments. Positive consumer sentiment is among the strongest driving factors.
There is consensus among experts that the new phase of growth will continue. Recent events would only slow the adoption occurring in the sustainable energy industry. The long-term future has certainly not changed. The Deloitte article cites customers, costs, innovation, and networks as reasons why. Each area remains highly motivated to move toward a more sustainable future.
Other Considerations
The overall outlook for this year remains positive. While the long-term forecast is unshaken, significant issues to keep in mind include those that relate to tariff policies. Sustainable energy is widely regarded to be a necessary part of future economies. Few governments oppose long-term initiatives in sustainability.
Emerging Technologies
Emerging technologies in sustainability benefit the home and overall infrastructure. Forbes examined how blockchain can be used to advance sustainable energy initiatives. Blockchain technology itself is about empowering participants of a network. Empowering consumers means that the energy users would have a direct impact upon how their needs are met. This is the best course of action for cost-effective solutions that satisfy performance requirements. It can have a profound impact on energy grids and overall clean energy initiatives.
Consumer driven smart grids offer advantages that lone provider systems could never match. Real-time demand, impending situations and future developments all benefit when consumers are empowered to make their own decisions. Clean energy initiatives directly benefit from the reduction of wasted resources that is a direct consequence of consumer driven smart grids.
Technologies for the Home
Energy.gov listed 8 ways that American consumers can take action from their home:
•smart (connected) homes
•ultra-efficient heat pumps
•carbon-fighting clothes dryers
•magnetic refrigerators
•advanced window controls
•next-gen insulation
•reflective roofs
•improved lighting
Connecting the home to the digital world makes sense in a lot of ways. Many advantages have likely not even been conceived of yet. Things like blockchain technology gives consumers much more control over their options. This supports the benefits derived from installing advanced window controls and other adjustable energy saving products for the home.
The other items on the list offer improvements over current home appliances and construction. Improvements in insulation, heat pumps and roofs all work together to bring down costs. Advancements in appliances like refrigerators, clothes dryers, and lights improve the way residents live as well as create a more sustainable future in general.
Supporting a Sustainable Future
As consumers, we can support a sustainable future in several ways. It is about as much as how we perceive future development as the way we furnish our homes. Long lasting, energy-efficient appliances are things that everyone wants. However, innovation of these products is often impacted by broad industry events as well as governmental policies. Also consider the impact of digital technologies and the information society. Every day we must remain aware of sustainable energy to encourage the fastest and most beneficial future.
