Modern Energy Infographic: Renewable Energy Sources

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The Modern Energy Market

 

By 2025, the global market for renewable energy will reach $1.5 trillion

  • 71% of Americans think clean energy should be a priority

 

The Sustainable Energy Economy

  • In 2019,

    • Renewable energy powered the equivalent of 43.5 million homes in the U.S.

      • Solar power generated

        • 250,000 jobs

        • $18.7 billion in investments

      • Wind power generated

        • 120,000 jobs

        • $14 billion in investments

    • Over 3 million alternative fuel vehicles were sold

      • Flex-fuel vehicles: 2.14 million sold

      • Electric vehicles: 1.2 million sold

  • 50% of Americans would purchase renewable electricity if given the option

    • 49% of consumers are willing to pay more — on average, $15 more per month

  • Why Choose Renewable Energy?

    • 3 in 4 Americans want to reduce pollution

      • Water pollution: 75%

      • Air pollution: 74%

    • 72% want to provide a better life for future generations

    • More than half think sustainable energy is less harmful to people’s health

      • 62% think coal is harmful

      • 53% think nuclear is harmful

      • Just 5% think wind or solar is harmful

    • 58% think renewable energy will improve the economy

    • 38% think electricity from wind or solar is cheaper than coal

      • Nearly half think it will be by 2028

 

Providing renewable, reliable energy requires a better battery

 

Sustainable Energy Is Built On Batteries

  • Renewables Are Intermittent

    • Solar energy is captured during daylight

    • Wind energy is captured when it’s windy

    • This power must be stored for when it’s needed

  • The End Of Net Metering?

    • Today, most residential solar uses net metering to sell excess power to their utility company

      • But utility companies say this allows homeowners to use their infrastructure at no cost

    • In 2019, 43 states considered changes to their residential solar regulations, including

      • Lower net metering rates

      • Higher infrastructure fees

    • The result? As net metering is phased out, residential solar will become less financially viable — unless it’s replaced with power storage system

  •  Batteries Fill The Gap

    • Residential

      • Batteries store energy for evening use and backup power

      • Recharge using the electric grid at low-demand times

    • Industrial

      • Batteries store power from wind and solar when production is high

      • Reduces power waste from production exceeding consumption

    • Telecoms

      • Batteries provide backup power to increase data security

      • Power cell towers and data centers in remote locations

  • What’s Wrong With Lithium-Ion Batteries?

    • Invented in 1912, modern Lithium-ion batteries aren’t much different from the original

      • Today, they fuel everything from electric vehicles to our smartphones

      • By 2022, Lithium-ion batteries are expected to fuel 61% of demand

    • The Limits Of Lithium-Ion

      • Efficiency

        • Batteries degrade overtime and quickly lose storage capacity

        • Fully discharging the battery will shorten its usable lifespan

      • Production

        • Water-intensive process leaves nearby farms without irrigation

        • Mining scars landscapes and creates mountains of discarded salt

      • Safety

        • Extracting lithium can leach toxic chemicals into water supply

        • Batteries may explode or catch fire while in use or after disposal

      • Recycling

        • Variation in materials makes recycling difficult and costly

        • Improper disposal can lead to soil and water contamination

 

By 2025, more than 25% of all behind-the-meter solar systems include a battery — up from less than 5% in 2019

 

The Future Of Renewable Energy: Vanadium Flow Battery Storage

Lithium-ion batteries are ideal for mobile applications, but not for long duration, energy-intensive, stationary applications

  • Unlike lithium-ion batteries, vanadium flow batteries don’t degrade

    • Fully charge and discharge throughout lifetime

    • 25+ years of useful life, with annual maintenance

    • Less vulnerable to variable temperatures

  • Water-based construction for safer alternative to lithium-ion batteries

    • Non-flammable

    • Non-explosive

  • A sustainable choice for batteries

    • 100% of electrolyte is reusable in a new battery

    • Recycled vanadium retains full functionality

    • No need to continue mining fresh vanadium

 

Invest In A Greener Future on StartEngine!

 

 

Sources:

https://www.alliedmarketresearch.com/renewable-energy-market

https://www.wired.co.uk/article/lithium-batteries-environment-impact

https://cen.acs.org/materials/energy-storage/time-serious-recycling-lithium/97/i28

https://climatecommunication.yale.edu/wp-content/uploads/2019/02/Energy-American-Mind-December-2018.pdf

https://insideclimatenews.org/news/11062019/rooftop-solar-net-metering-rates-renewable-energy-homeowners-utility-state-law-changes-map

https://www.seia.org/solar-industry-research-data

https://www.awea.org/wind-101/basics-of-wind-energy/wind-facts-at-a-glance

https://www.businesswire.com/news/home/20170104006049/en/Top-5-Vendors-in-the-Flex-fuel-Engine-Market-from-2016-to-2020-Technavio

https://www.eei.org/issuesandpolicy/electrictransportation/Documents/FINAL_EV_Sales_Update_April2019.pdf

https://www.thebalancesmb.com/importance-of-battery-storage-for-sustainable-energy-4163010

https://www.bettertogether.solar/net-metering-vs-battery

https://www.storen.tech/

https://interestingengineering.com/a-long-lasting-sustainable-battery-could-be-around-the-corner

https://relionbattery.com/blog/the-seven-top-uses-for-rechargeable-lithium-ion-batteries

https://www.storen.tech/our-technology