The world is embracing eco-friendly practices to protect landscapes and energy resources. This means more electric cars and homes using solar and renewable energy. People are also becoming mindful of their carbon footprint and waste, making efforts to minimize them or convert them into renewable energy sources.
Areas of developments in 2024 may include:
- Renewable Energy Growth: Renewable energy sources such as solar, wind, and hydropower will continue to benefit from new technologies and decreasing costs that will lead to an increased adoption,
- Energy Storage: new energy storage technologies, including improvements in battery technology are expected to be deployed in 2024,
- Electric Vehicles (EVs): While the market is saturated with EVs, innovation in electric vehicles, with advancements in battery efficiency, and charging infrastructure, will help push further market penetration,
- Smart Grids: deployment of advanced sensors, automation, and digital communication will help manage utilities the infrastructure,
- Hydrogen Economy: Green hydrogen coupled with photovoltaics should experience a rush in the coming years,
- Carbon Capture and Utilization (CCU): New technologies to capture and burrow carbon emissions from industrial processes and power plants should emerge,
- Policy and Regulations: new government policies and regulations on the energy sector, influencing investments and shaping the market for new energy solutions are expected to be deployed,
- Decentralized Energy Systems: decentralized energy generation, allowing for more local and community-based energy solutions should gain traction.