Driving Renewable Energy Growth - Green Tech Trends in 2023

Technology is the route to collaborative growth, property, and innovative solutions for our planet. A climate crisis has left us exposed to unprecedented damage, and green technology is our lifeboat.

Owing to technological advancements in the renewable energy sector in the past decade, the cost of solar and wind power has fallen. This has made it possible for economies to adapt to renewable energy instead of fossil fuels.

As per some estimates, switching to renewable energy can help economies save close to USD 12 trillion globally by 2050.

Here are the major green tech trends for 2023:

Green Hydrogen: Green hydrogen will help in capturing and transporting renewable energy from one place to another. This will be possible for both long and short distances. As one of the most promising clean technologies, green hydrogen will help transport renewable energy from regions with abundant wind or solar energy to renewable energy-deficient areas thousands of kilometres away. Green hydrogen is a new, clean-burning source of energy, and it will witness growth in 2023. Although much needs to be done and further research is required, 2023 will be about these discoveries, research, and solutions to take green hydrogen forward.

High-Efficiency Panels: There is increased interest and research in new materials for solar panels. These include perovskites, transparent panels, TopCon technology, etc. This trend will continue to gain prominence in 2023. These materials will improve panel efficiency and reduce costs. Perovskites are a type of material that is highly efficient at converting sunlight into electricity. It was discovered in Russia in the 1800s and is less expensive than the current available material options. Besides this, one of the most innovative advancements in solar is the transparent solar panel. This can be applied like a film over windows or other surfaces to harvest energy. It solves huge space, cost, and affordability issues. In addition to this, TopCon Technology will also continue to capture the market by increasing panel quality, low light generation, and space requirements.

EVs and Storage: The world has solved the problem of harvesting renewable energy. The next step now is storage. Battery technology will witness increased research and innovation. With the increased adaptation of electric vehicles to decarbonise the transport sector, the charging infrastructure will also need massive changes and will need to be more widespread. This will increase the load on existing grids. Therefore, to deploy these massive amounts of energy in the future, storage must be dependable to maintain stability. In the transition to renewables, working out how to make clean energy available consistently even in the absence of ample sunlight or wind for a longer period of time will be a key problem to solve. Therefore, developing unique long-term storage solutions for the power generated by renewable energy sources will witness increased interest.

GreenBuilding: Greener building materials and low-carbon construction will gain prominence. Smart, sustainable infrastructure is the new norm. Traditional construction methods account for approximately 40 percent of greenhouse gas emissions. Low-carbon buildings will all conserve energy, produce minimal waste, and have the infrastructure to produce their own electricity.

The renewable energy sector is destined for continued growth. Key trends will include technological advancements that help in wider adaptation and lower costs.

- Ishan Chaturvedi, Co-Founder & CEO, Vareyn Solar Pvt. Ltd.