With the European Commission’s Citizens’ Energy Forum kicking off in London on February 23, the latest commodities’ trading index sees oil prices display a consistent low of just below $30 a barrel. With large oil companies struggling, renewable energy offers investors the chance to combine profitability with sustainability into the future, avoiding more turbulent energy markets.
According to Bloomberg, by 2040, the world’s power-generating capacity mix will be revolutionized. Today’s system is composed of 2/3 fossil fuels, but Bloomberg predicts 60% of energy in 2040 will come from carbon neutral energy sources. Renewables will command just under 60% of the 9,786GW of new generating capacity and two-thirds of the $12.2T of investment. The time is right to get involved in green energy as the next couple of decades will see copious opportunities for investors to get involved in a profitable and sustainable industry.
“The future is with sustainable energy. No matter how much energy we manage to squeeze out of fossil fuels, inevitably it will be new technologies that capture solar and wind energy that will provide a long-term solution. The capacity of harvesting solar energy defines the level of evolution of a given civilization, becoming self-sufficient will make the human race no longer dependent on natural resources under the ground,” Marco Attisani, CEO and Founder of Watly, said. “Getting involved early will offer a huge head-start, allowing companies to become pioneers and household brand names. In 40 minutes, the solar irradiation that reaches earth equals the annual energy consumption of our entire civilization, and we must start to take this energy source seriously.”
Providing renewable energy is not merely an end in itself. Developing technology that can harness the untapped potential of the sun’s energy is part of a recognition that sustainable energy will be key as the world pursues increased connectivity. Initiatives from major global companies such as Facebook and Google to provide internet connectivity in emerging economies fail to understand that sustainable energy systems must underpin initiatives of this sort. Providing essential energy alongside internet will offer businesses the chance to flourish, allowing for a more balanced and profitable world. Although aid is important to developing areas, it is trade that will secure their position on the global stage.”
Developments in solar energy have been held back by solar panels’ reduced effectiveness when exposed to high heat levels. Watly has combined technologies, using water to cool down solar panels and ensure that they perform at optimal operating temperature and maintain 100% of their nominal efficiency. In turn, the heat energy contributes to the main thermodynamic cycle that is used to boil the water to a level which removes impurities of all kinds. This combined technological solution enables Watly to provide sustainable electricity, clean water and wi-fi capabilities, a self-sustaining, scalable and versatile system that creates a network for growth. The European commission has seen the connectivity potential of Watly by awarding it €1.5M of horizon 2020 funding to complete its third pre-industrial model.