The global energy landscape is undergoing a significant transformation, with an increasing focus on sustainability and a drive to transition away from fossil fuels. As we stand at the precipice of this energy transition, the choices we make today will shape the future of our planet.

The opportunities for powering our world are expanding rapidly, with renewable energy sources such as solar and wind leading the way. Additionally, alternative sources like hydrogen and nuclear fission are showing great promise in the pursuit of a cleaner, more sustainable energy landscape.

In this article, we will explore the possibilities and challenges associated with the energy transition, taking a closer look at the innovations that are driving change and the obstacles that must be overcome.

The current energy landscape

According to statistics released by the International Energy Agency, 80.9 per cent of global energy came from fossil fuels, 9.4 per cent from biofuels and waste, 5.0 per cent from nuclear energy, 2.5 per cent from hydro energy, and the remaining 2.2 per cent from other sources in 2019.

Today’s landscape is largely characterised by its over-reliance on fossil fuels which have detrimental impacts on the environment. Alternative sources of cleaner energy, such as solar, wind and hydrogen, are being increasingly adopted. Yet, the extent of technological advancement needed to effectively facilitate the transition is still nowhere in sight.

Challenges

Environmental degradation

The combustion of fossil fuels such as coal, oil and natural gas causes large amounts of greenhouse gases to be released into the atmosphere, trapping heat and causing global temperatures to rise. This leads to climate change, resulting in rising sea levels, unpredictable precipitation problems and extreme weather events.

The combustion of fossil fuels also releases a variety of pollutants into the atmosphere, including sulphur dioxide and nitrogen oxides. These gases contribute to smog and can cause respiratory problems. They can also react with rainwater to form acid rain, which can corrode buildings, destroy marine life and damage ecosystems.

Energy security

The Russia-Ukraine war has worsened the global energy crisis. Supply-chain disruptions from one of the world’s major oil suppliers, Russia, this has, in turn, driving up energy prices. This increases the number of households unable to afford energy – especially those in developing countries.

Also Read: The key to tackling climate change: Electrify shipping

Furthermore, due to political tensions, Russia has cut gas flows to the EU by 80 per cent between May and October 2022. This has caused a significant shortage in the EU’s energy mix. This highlights the over-reliance on major fuel-exporting countries, making the diversification towards alternative or domestic sources of energy a pressing need.

Affordability

The main reason why sustainable sources still remain relatively more expensive today is the sheer cost of infrastructure required to build solar farms and wind farms. When produced on a large scale, these costs can add up quickly. This makes sustainable energy sources more expensive than traditional ones.

As a result, it poses a significant barrier to the large-scale adoption of sustainable energy sources, as many countries and businesses tend to prioritise cost savings at the expense of the environment.

Recent innovations and developments

Alternative sources

Nuclear fission is a process in which the nucleus of an atom is split into two or smaller nuclei, releasing a large amount of energy in the form of heat and radiation. This process is the basis of nuclear power plants, which use the heat generated by nuclear fission to produce steam, which in turn drives turbines to generate electricity.

Advantages:

Clean source of energy that does not generate greenhouse gases such as carbon dioxide.
It also reduces our dependency on fossil fuels, which are finite resources that exacerbates climate change.

Gaps:

Nuclear produces radioactive waste, which must be carefully stored and disposed of.
Safety concerns associated with nuclear power plants, particularly in the event of a nuclear accident, which can release dangerous levels of radiation.

Hydrogen Fuel is produced by chemically reacting hydrogen gas with oxygen to create water. This process releases energy that can be harnessed to power fuel cells and generate electricity directly.

Advantages:

It produces no harmful emissions when burned. In fact, the only byproduct of hydrogen fuel is water vapour, making it an extremely clean source.
Hydrogen fuel can be produced from a variety of sources, including water, natural gas, and biomass, making it a versatile and sustainable fuel option.

Gaps:

Difficulty in storage and transport; requires specialised equipment and infrastructure to handle safely.
The production of hydrogen fuel can be energy-intensive, which can limit its overall sustainability.

Energy storage and distribution

Battery storage

Energy storage is the capture of energy produced at one time for use at a later time. The aim is to reduce imbalances between energy demand and energy production. Recently, there have been innovative solutions for battery recycling, driving a more sustainable energy landscape.

Also Read: How Ampotech helps energy, facilities managers improve the performance of their buildings

For example, NEU Battery Materials, a startup from the HyperScale accelerator programme created a way to recycle lithium batteries using a clean and sustainable electrochemical and produce battery-grade materials. This solution addresses the sustainable redox targeting battery recycling issue.

Microgrids

A microgrid is a small-scale electrical grid that can operate independently or in conjunction with the main power grid. It typically includes distributed energy resources such as solar panels, wind turbines, battery storage, and backup generators, which can generate and store electricity locally.

Microgrids are designed to provide reliable and resilient power to specific communities, facilities, or regions. They are often used in areas that are prone to power outages or that are far from the main power grid, such as remote communities, military bases, or hospitals.

The energy transition

Supply-chain concerns

There are several challenges in the large-scale adoption of alternative energy. It must be cheap, abundant, clean, safe, easy to transport, and sustainable. To build resilience and reduce the geopolitical risk of energy insecurity, each country should self-sustain and bring the supply chain to its own backyards.

Energy systems

Today, our predominant energy system is centred around natural gas. In the future, however, multiple systems of energy storage and distribution are foreseen. This includes electricity imports, hydrogen networks, combustion technology and infrastructure, etc.

With the proliferation of alternative energy such as solar, thermal and nuclear, there is an increasing need to design an integrated system that is robust, resilient and reliable – perhaps one that is co-reliant.

The role of accelerators in shaping the future

Accelerator programmes drive innovation and expedite the transition of the current energy landscape into a more sustainable one. Startups benefit from active guidance from industry professionals, access to resources, connections with investors, collaborations, and a structured framework for innovation.

With potential funding, startups with innovative solutions tackling real-world problems are empowered to conduct further research and development and upscale their ideas to revolutionise the energy landscape.

PETRONAS FutureTech 3.0 accelerator programme

One of the initiatives driving innovation within the energy space is PETRONAS FutureTech 3.0, powered by StartupX, which was launched on 23 Feb 2023.

The programme focuses on five verticals: Future of Energy and Mobility, Sustainability, Future of Industry and Work, Future of Chemicals and Material, and Frontier Technology.

Find out more here: https://petronasft.thestartupx.com

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This article was first published on April 3, 2023

The post On the precipice of energy transition appeared first on e27.