Report highlights the opportunities found in renewable energyOctober 7, 2013
World begins moving toward renewable energy
The world has found itself in a tricky situation concerning energy. Global population is on the rise, leading to a higher demand for electrical power. At the same time, countries around the world are working to reduce their reliance on fossil-fuels, which have been their primary energy source for centuries. As countries move away from fossil-fuels, they are beginning to embrace renewable energy. A new report published by Amadee & Company suggests that there may be immense economic opportunities in the renewable energy market that have yet to be fully recognized.
New forms of energy production are gaining attention
With the demand for renewable energy on the rise, new forms of energy production are beginning to take form. Solar fuels, for instance, are relatively new to the clean power scene. As the term suggests, solar energy is used to generate various types of gases that can be used to generate electrical power. These fuels can be used by vehicles and for a wide range of applications and could significantly reduce the need for fossil-fuels. Hydrogen fuel cells are also becoming more popular, especially within the transportation sector.
Renewable energy may be a $3.5 trillion opportunity
According to the report, new forms of renewable energy could represent a $3.5 trillion opportunity. Hybrid technologies, such as those that mimic photosynthesis in order to produce hydrogen fuel, are beginning to show off their potential and are garnering a great deal of attention. Such technologies are playing a role in the global transition away from fossil-fuels and may eventually become humanity’s favored tools for energy production in the near future.
A hydrogen economy may be part of the future
The report notes that many countries are beginning to move toward a hydrogen-centric economy. As transportation begins to rely more heavily on hydrogen fuel cells, this form of renewable energy is gaining more traction among governments throughout the world. This trend is similar to what occurred when vehicles first began hitting roadways. The rampant popularity of these vehicles was a major boon for the fossil-fuel sector and the introduction of hydrogen-powered vehicles may have a similar impact on the fuel cell industry.