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What would be the global economic aftershocks of coronavirus?
Monetary policies would not seem effective as the issues would be catching up orders and ensuring stable supply chain rather than reviving demand, which was the case after GFC. Given the current circumstances, the situation is evolving so fast. Both financial and capital markets are facing the worstRead more
Monetary policies would not seem effective as the issues would be catching up orders and ensuring stable supply chain rather than reviving demand, which was the case after GFC.
Given the current circumstances, the situation is evolving so fast. Both financial and capital markets are facing the worst market conditions. The inexperienced leadership in Saudi Arabia and opportunist Putin are making the market conditions worst by playing with the oil market.
See lessWhat is the microgrid market size?
The global microgrid market was worth US$ 15 billion in 2018. The market is further projected to reach approximately US$ 30 billion by 2025. The market is expected to see significant growth in the coming years due to the continued transition from conventional power stations to distributed energy. ThRead more
The global microgrid market was worth US$ 15 billion in 2018. The market is further projected to reach approximately US$ 30 billion by 2025.
The market is expected to see significant growth in the coming years due to the continued transition from conventional power stations to distributed energy. The increased demand for continuous power supply and improved power infrastructure has been driving the growth in the global microgrid market.
The chief force in keeping the market growth is the low transmission losses. Microgrids generate electricity locally and limit the dependence on long-distance transmission lines and thus cut transmission losses.
Various technological advancements have been made to improve the efficiency of battery inverters to ensure continuous power supply via microgrid. In addition, improved battery technology with higher inputs and outputs has been developed for a longer time — these features and technologies driving the microgrid market growth.
The demand for microgrids is growing as they allow customers and developers to achieve environmental goals through the use of renewable energy as a source of energy. This is in line with governments’ initiatives to develop solar energy and wind farms. In addition, the Clean Power Plan (CPP) rules have been introduced in countries like the US to reduce the emissions of CO2.
The global market is also facing some challenges, such as the high cost of maintenance and installation. The wide-ranging cost of microgrids tends to increase due to various parts such as distribution and generation system, loads, storage gadgets and regular couplers.
See lessWhat will be the global electrolytic Manganese Dioxide (EMD) market size?
The global electrolytic manganese dioxide (EMD) market size is expected to reach US$ 750 million by 2025 from US$ 350 million in 2018. The primary growth driver for electrolytic manganese dioxide is the rising demand for energy storage around the world. The increasing use of energy storage devices sRead more
The global electrolytic manganese dioxide (EMD) market size is expected to reach US$ 750 million by 2025 from US$ 350 million in 2018.
The primary growth driver for electrolytic manganese dioxide is the rising demand for energy storage around the world. The increasing use of energy storage devices such as batteries in automotive and power grids is boosting the market growth. The demand for EMD will also be driven by its use in lithium-ion batteries and zinc-carbon batteries which will encourage companies to increase electrolytic manganese dioxide production. They are continuously seeking to develop new and better ways of producing EMD.
The growing demand for electric vehicles (EV), together with government incentives promoting EV technology, will have a positive impact on the growth of the global electrolytic manganese dioxide market. Moreover, the growing demand for electrolytic manganese dioxide for water treatment will also stimulate market growth in the coming years.
The hydrometallurgical method is a new progressive development in EMD industry, which is an alternative way of removing manganese from the low-quality ores of manganese oxide. It is capable of converting manganese oxides into pure and high-quality EMD and is used further in lithium-ion and alkaline batteries production.
The hottest trend in the industry is the increase in renewable energy like solar and wind power technologies. The growing demand for solar and wind energy systems batteries creates demand in the electrolytic manganese dioxide market.
The availability of electrolytic manganese dioxide substitutes poses a major market challenge. Furthermore, the instability of manganese prices is projected to have a negative impact on EMD demand. Also, the environmental rules on battery disposal are a major impediment for market growth.
See lessWhat is the global market size of variable frequency drive (VFD)?
The global market size of variable frequency drives is projected to reach approximately US$ 28 billion by the end of 2025 from the US$ 15 billion in 2018. The growing demand for energy-efficient equipment has a major impact on the growth of the global variable frequency drives industry. The rising pRead more
The global market size of variable frequency drives is projected to reach approximately US$ 28 billion by the end of 2025 from the US$ 15 billion in 2018.
The growing demand for energy-efficient equipment has a major impact on the growth of the global variable frequency drives industry. The rising power demand and energy shortages mean that governments have to concentrate on effective electricity use to obtain sustainable economic growth. The industrial energy consumption regulations and an increase in energy prices have pushed industrial operators into implementing energy-efficient equipment. The transition to more energy-efficient motors raised the total CAPEX for industrial customers.
Around the globe, the motors consume a large part of energy in industrial operations. The use of variable frequency drives to reduce the energy usage and overall loss of energy as it changes the voltage and frequency curve based on the requirement of applications. The integration of VFDs with electric drives helps end-users to control drive speed and torque to improve their operational performance and reduce energy consumption simultaneously.
In various European countries, the changing regulatory policies and legislation have fuelled the demand for variable frequency drives in the region. The rapid growth in infrastructure and urbanisation have driven by favourable industrial development is likely to be at the forefront in several Asian countries. The increasing VFD installation in mining, transmission and generation of energy and products such as AC, water pumps and elevators would result in high VFD demand over the next few years.
The rise of industrial internet of things (IIOT) has also contributed to the use of advanced VFD technologies. The technological advancement has made it possible to incorporate IoT in various industrial products such as drives, motors and sensors. Many VFD companies offer these IoT-friendly drives to help end-users to control and monitor their device remotely. The IoT enabled VFD would increase more demand from end-user industries by providing ease of operation.
See lessHow do nuclear plants generate energy, and what are its advantages and disadvantages?
Nuclear energy is a reliable energy mix around the world with its high production capacity. The nuclear power station is a type of plant used for the production of electricity through nuclear fission. It uses nuclear reactors in conjunction with the Rankine cycle, where the reactor energy converts wRead more
Nuclear energy is a reliable energy mix around the world with its high production capacity.
The nuclear power station is a type of plant used for the production of electricity through nuclear fission. It uses nuclear reactors in conjunction with the Rankine cycle, where the reactor energy converts water into a gas, spinning a turbine and a generator. Nuclear energy is still a significant energy source in the world, but it has a wide range of pros and cons.
Advantages of nuclear power plants
There are many benefits of having a nuclear power plant as fuel is not required to build steam. The electricity generated by a nuclear plant is cheap because uranium is low cost. Nuclear is a consistent and reliable energy source that can run continuously for up to a year, compared to renewable sources of energy such as solar and wind.
The production of nuclear energy does not result in the emission of methane and carbon dioxide, which are responsible for global warming and greenhouse gases. The damage caused by nuclear energy sources to the atmosphere is considered minimal.
The CAPEX for setting up nuclear power is enormous, though its operational cost is low. A nuclear power plant fuel costs are also low, and the electricity they produce is not expensive either. The fluctuations in the price of uranium will have little effect on the costs of generating electricity for a nuclear power plant.
Disadvantages of nuclear power plants
However, there are concerns about the treatment of radioactive waste and toxic radiation from the reactors. One of the major issues of nuclear energy is the environmental impact of uranium. While supplying nuclear fuel to a power plant can cause pollution. There are also concerns about the process involved in mining and refining of uranium.
A large amount of nuclear waste generated by power plants will lead to high levels of radiation and other side effects.
On the other hand, the uranium reserves are small and exist in few countries. There are significant costs involve in the processes of mining and refining uranium.
See lessHow can nuclear waste be turned into diamond batteries?
Presently, most electrical generation techniques involve the use of energy to move a magnet through a coil of wires that generate electricity. But the new technology makes it possible to generate energy by merely placing it near a radioactive source. It needs no moving parts, no emissions and very lRead more
Presently, most electrical generation techniques involve the use of energy to move a magnet through a coil of wires that generate electricity. But the new technology makes it possible to generate energy by merely placing it near a radioactive source. It needs no moving parts, no emissions and very limited maintenance. The electricity is the only primary by-product.
Nuclear waste has been one of the worst sources of waste to be handled so far. The development now can convert tonnes of nuclear waste with the addition of special diamonds into safe batteries that can generate and hold electricity.
The diamonds are made of radiation graphite and can produce a small electric current over millennia and have no serious environmental impact.
The technology is still in its early stages but has strong growth potential. The electricity can be produced in a very small amount. It would be sufficient to power devices where extended battery life is essential such as smartphones, power pacemakers, artificial pancreas, timing devices, high-altitude drones or even satellites and spacecraft.
It can also power the individual devices such as smoke detectors, engine sensors, IoT devices, and hearing aids/other implantable sensors. The technology developers claim that they can operate these devices for decades and are would be safe to use due to the diamond structure around, which would absorb the radiation.
The innovative battery will solve two major problems one is nuclear waste disposal, and the other is the prolonged battery life.
The yet commercialised nickel-63 prototypes rely entirely on its primary source of radiation which is embedded in artificially produced diamonds and thus reduce costs. Certain processes, including carbon-14, which can also be obtained from graphite blocks, are also likely to come into play in the next few years.
See lessWhat is the carbon credit market and how it works?
A carbon credit is a term used for any tradable certificate or permit that represents the right to emit one tonne of carbon dioxide or other greenhouse gas. In the carbon finance market, carbon credits are issued to reduce carbon emission. Kyoto protocol established carbon credit market mechanism, wRead more
A carbon credit is a term used for any tradable certificate or permit that represents the right to emit one tonne of carbon dioxide or other greenhouse gas. In the carbon finance market, carbon credits are issued to reduce carbon emission.
Kyoto protocol established carbon credit market mechanism, where advanced countries were given emission reduction targets, known as assigned amounts unit. The countries then set quotas for different industries. Companies were given quota for carbon emission by complying with an allowance of credit units. These carbon units are tradable. A company can go for clean energy and less carbon-intensive practices to comply with the cap.
The World Bank report on ‘the future of carbon markets for climate change mitigation’ 2019 state that under the Kyoto protocol, countries aim to achieve their target of reducing carbon emissions. For that, they are participating in carbon markets under ‘flexible mechanism’ approach that facilitates the voluntary transfer of low-cost emissions allowances or carbon credits. In order to comply with the cap, they can offset their emission by financing a carbon-reducing project called carbon offset.
Two key approaches are used which enable countries to acquire GHG reduction credits. The first tool is a clean development mechanism (CDM), which allow a country to sponsor a GHG reduction project in a developing country where the cost of reducing GHG is lower. Joint implementation (JI) is another tool, that allows a country to set a green project in another developed country.
Countries can also go for emission trading (ET), where carbon credits are traded in international carbon markets.
Carbon credits aim to allow the market to carry their commercial activities along with low emissions and less carbon-intensive approaches as compared to that scenario when no cost incurred on carbon emissions. The GHG mitigation projects generate credits to finance carbon reduction schemes and sustainable development programs.
See lessWhat will be upcoming trends in the power industry in 2020?
Most of the current trends will continue to expand in the global power industry in 2020. 5G rollout for the smart energy sector 5G technology will continue to grow in 2020. In 2019, the 5G deployment was slower than expected, mostly due to the problems associated with the upgrade of 4G infrastructurRead more
Most of the current trends will continue to expand in the global power industry in 2020.
5G rollout for the smart energy sector
5G technology will continue to grow in 2020. In 2019, the 5G deployment was slower than expected, mostly due to the problems associated with the upgrade of 4G infrastructures in 5 G coverage areas by communication services providers (CSPs).
The next wave of smart grids and energy efficiency are going to be heavily dependent on 5G, along with other benefits in the energy sector.
5G will be an essential development for smart grid technology and will allow the grid to integrate more effectively with renewable energy and distributed power generation.
The digitalisation of the energy sector
Digitalisation is one of the key trends that are expected to get more traction in the power industry in 2020. Some of the key areas will be mobile solution and payments, big data analytics, IoT and smart meter deployments.
The use of drones is expected to increase in the power industry, particularly for monitoring grids, power lines, pipelines and energy resources. The data will be used to produce automated work, ensuring fast response and reduce power disruptions.
Security of smart grids from cyber attacks
Demand for clean energy also fuels increase deployment of smart grids. The emergence of intelligent grids also results in an eventual change in the digital environment and increase exposure to cyber threats. The security of these resources at an enterprise level will be essential.
Regulations around cybersecurity and information security will be further toughened. Power utilities will also exchange cybersecurity data with external partners to better identify and mitigate risks.
Renewable and Energy Storage
Renewable and energy storage technologies have been a hot topic over the last few years. The trend will continue to increase in 2020. More investment is expected to go into the renewable and storage infrastructure.
See lessThe massive increase in wind and solar energy deployment and other forms of clean energy also increased the demand for energy storage distribution. Energy storage systems, mainly lithium-ion batteries, have become an important solution and will see more demand growth.
What will be the impact of banning hydraulic fracturing of oil and natural gas in the US?
A major implication would be job loses in the energy sector. Another impact would be a price rise. In one study which was conducted a few years back, estimated that in the case of banning fracking, the costs of gasoline and electricity would be almost doubled; and the living expense would increase bRead more
A major implication would be job loses in the energy sector.
Another impact would be a price rise.
In one study which was conducted a few years back, estimated that in the case of banning fracking, the costs of gasoline and electricity would be almost doubled; and the living expense would increase by around $4,000 over a few years time. Not sure if that is true. Appear exaggerated to me.
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