“Cleantech Market: Top Trends For Supercharging Your Sustainability in 2024
CleanTech is one of the most disruptive and rapidly changing industries of the 21st century. The rise of clean energy, renewable sources, and energy storage has redefined how we think of energy production and usage, and the industry continues to rapidly grow. It's no surprise then, that the cleantech sector is one of the most closely watched and researched markets. With analysts eagerly forecasting its future, here are the top trends that are expected to shape the cleantech market by 2024. 1. Clean Energy to Power the Grid: The world’s sustained focus on decarbonization will continue to drive the adoption of clean energy technologies to power the grid. Wind, solar, and small hydropower will overtake conventional power plants thanks to renewable portfolio standards and other government incentives. 2. Growth of Battery Storage Systems: As governments continue to push for clean energy, greater emphasis will be put on energy storage systems, such as batteries to store energy for times when the grid’s supply isn’t sufficient. High-capacity battery storage systems not only provide energy but also increase reliability for the grid. 3. Rise of Autonomous Vehicles: The adoption of autonomous vehicles will significantly reduce energy consumption and greenhouse gas emissions. Autonomous vehicles will respond quicker to traffic patterns and slow down earlier, and operate in a more efficient manner, saving energy and reducing emissions. 4. Increased Automation and Data Analysis: The increasing automation of the industry will see the increased incorporation of data analysis into decision making. This will mean more accurate insights, improved efficiency, and better customer experiences. 5. Shift to Smart Grid Solutions: The development of smart grid solutions will revolutionize the way we view energy production and consumption. Smart grids can leverage technology to optimize efficiency, reduce energy costs and emissions, and improve access to electricity. CleanTech is an ever-evolving industry and though the 2021 outlook is uncertain, there are a few trends that analysts are confident will shape the market by 2024. With a vision towards sustainability, the continued development of clean energy sources, autonomous vehicles, battery storage systems, and smart grid solutions, the clean energy future will be a more efficient, reliable, and sustainable one.