nj ayuk

Top Trends that Will be Determining the Future of the Global Energy Industry

In the wake of the current pandemic situation, the global authorities have been pushed to think about a greener source of energy that can cater to the existing energy demands without putting much impact on the ecosystem.

Besides, there will be several other aspects that will be shaping up the perspective and overall functioning of the global energy sector in the year 2020. NJ Ayuk, who comes over as the executive of the African energy chambers, further talks about some of the key factors in the same regards.

1. Rising demand of the greener energy solutions

Recent data released by the International renewable energy agency confirms that in order to catch up to the goals agreed in the Paris agreement, renewable energy sources must hold a major part of the annual global electricity generation process.

As of now, the percentage is around 25 % and the same needs to be increased by up to 85 % by the year 2050. To achieve the same goals, countries need to invest around USD 110 trillion into the same project.

The agency has further confirmed that there will be a rise in the demand for renewable energy sources followed by the urgency of minimizing the carbon emissions in the environment. Experts have claimed that most of the countries have started on with their work in the same aspect already and we can see some fruitful results of the same steps in the coming times.

2. Dependency on fossil fuel will continue in some nations

The report further states that even though few of the countries will be switching to cleaner and renewable energy sources in the coming times, coal and other non-renewable energy sources will still be preferred in certain Asian developing countries.

You can give it either to the weak political will of leaders in these countries or the availability of cheap coal within their territories. So, even though a few other countries will opt for greener energy sources, these countries will continue with the burning of coal to fulfill, l their energy requirements.

nj ayuk wife

3. Bringing the flexibility of renewable energy sources into a picture

Even though most of the renewable energy sources are highly efficient and capable to fulfill the global energy requirements, they still aren’t flexible enough in terms of their functioning. For example, Solar energy is not available at every part of the globe in the same quantity.

Likewise, wind speed isn’t similar in every region around the world. Hence, bringing flexibility to the functioning of renewable energy sources will still be on the top of the priority list of researchers and energy experts around.

NJ Ayuk guardian says that some kind of mechanism needs to be brought into practice in order to store and channelize the energy generated out of these resources in the right manner.

4. Decentralisation of grids

The prices of lithium-ion batteries have seen a drastic drop in the past few years and this is where commercial storage of power has been looked forward to as a feasible thing. As per NJ ayuk wife, the energy storage options will increase across every part of the world due to the further drop in the prices of batteries.

Moreover, the centralized grid system is going to be replaced by decentralized grids in the coming times. So, by every means, we can expect to see a big jump in the usage of solar rooftops and behind the meter batteries.

nj ayuk guardian

5. Using Hydrogen as a storage option

Besides the usage of lithium-ion batteries, studies and researches are on to use various other aspects to store energy produced from renewable sources. This needs to be done in order to balance the rising energy demand and the limited production of energy around.

So, the same renewable energy plant will transform the extra energy into hydrogen or some other version of energy carrier to decrease the wastage in the renewable energy production process. NJ Ayuk centurion law group fins this as a revolutionary step towards bringing efficient energy management measures into the picture.

Conclusion

We just went through the most potential trends that are expected to shape up the energy sector in the coming years. While the need for greener energy cannot be overlooked, better and efficient ways of managing the transition is something everyone is vouching for.