With 2019 playing a crucial role in the cleantech sector, the new year is believed to deliver favorable returns in terms of investments, profit, relative growth, and record-low renewable energy prices. Renewable energy sources like wind and solar are fueling the power generation capacities and are expected to be the driving factor behind fifty percent of the world’s energy source by 2050. Notable decreases in the cost of production of solar and wind have opened doors for further investment in renewable sources. Additionally, distributed energy sources (DERs) like EV chargers, connected devices like smart thermostats, and energy storage are getting incentivized to bring down grid and energy costs.
Also, in the wake of environment-friendly solutions, the demand for technologies that reduce carbon emissions are increasing. Organizations are focusing on shifting the linear economy, also known as the “take-make-dispose” plan to the circular economy or the “reduce-reuse-recycle” plan. By circulating the energy cycle, companies are retaining the value of the used materials and controlling value loss. Furthermore, manufacturers are coming with timber framing structures in place of steel or concrete to mitigate the company’s embodied carbon. The automobile sector is also revamping engine designs to reduce carbon dioxide, nitrous oxide, and ozone-depleting harmful emissions. This ignites the need for electric vehicles that runs on lithium-ion battery contributing to zero environmental pollution. Although the currently used pumped hydro batteries can store energy for a couple of hours, manufacturers are searching for alternatives that can store energy in bulk, approximately ten hours or more.
In this backdrop, manufacturers are also considering hydrogen as a promising element that can help to meet the energy demands of electric vehicles. Being a zero-emission fuel, hydrogen is already used incessantly in the food processing industry and has the potential to solve the energy demands of the automobile sector. Again, the wavering patterns in agriculture brought in by the green biotechnology innovations are significantly contributing to the availability of cost-effective, powerful vaccines. Infused with additional antibiotic properties, the genetically modified crops like oilseed rape, maize, potato, soya beans, and others are boosting immunity. The latest anti-lymphoma vaccine obtained from RNA engineered tobacco plants is triggering an immune response that destroys fatal cancerous cells.
With the latest cleantech developments ushering in innovations and opportunities, determining the right solution provider can play a pivotal role in escalating the chances of success of a business. In the latest edition of Startup City, we present to you “Top 10 CleanTech Companies - 2020” whose promising solutions and services can help you in this transition.