The Path Towards Net Zero For Electricity Sector
The ambitious goal of achieving net zero emissions by 2050 has been set forward by the governments of several countries. The best lasting impression one might establish for future generations will be to succeed in accomplishing it.
However, it will necessitate fundamental changes in both policy and behavior at each level, from manufacturing to consumption. The move to net zero will serve as the setting for the ongoing review of shifting industry trends. That must begin immediately and will continue to be the main concern until 2050, or for however much time it takes.
Decarbonization
If 2050 seems slightly too far off in the future to imagine, many governmental bodies have recently guaranteed that the electrical grid would become carbon-free by 2035.
When you consider that people utilize a large amount of power every year and that 40% of that is generated by fossil fuels, the difficulty becomes clear. Nuclear energy and imports provide the remaining 83%, leaving renewables to generate 43%. It is noteworthy that renewable energy sources produced more electricity than fossil fuels is an admirable accomplishment that deserves to be praised. It is similar to crossing a mile marker at the early stage of a marathon. There are much greater obstacles to overcome.
Increase in renewable energy
By 2035, the total consumption is anticipated to rise to 460 TWh annually. Addressing this rising demand whilst removing one of the main sources of supply cannot be done with just one approach. The amount of power produced by renewable sources must increase dramatically compared to what has been produced in the last few years.
According to estimations done by energy advisory researchers, people need to triple the potential of offshore wind, double the amount of onshore wind, and increase solar power by twofold. It must begin swiftly because it is a huge project from a financial and infrastructure standpoint.
Storage is crucial
The fact that solar and wind power generation are weather-dependent is one of the main issues. There is currently a sufficient amount of energy available when weathers are favorable, but fossil fuels (often gas) step in to fill the gap when circumstances become less than ideal.
It is obvious that finding a reliable method for storing the energy generated on sunny, windy days so that it can be utilized when weather conditions shift would have a major impact on the world. Hydrogen storage and even employing electric vehicles for temporary storage batteries when they are not in operation are two solutions that are currently being researched.
The nuclear factor
Nuclear power is constantly on the list of priorities. It currently meets slightly more than 20% of UK demand. By the end of 2024, over half of the nation's nuclear reactors will be offline. Building new facilities is time-consuming, expensive, and divisive politically.
But an explicit course must be chosen, and challenging discussions must take place. Nuclear power can play a key role in helping achieve the ambitious objectives for net zero power generation thanks to innovative technologies in the area of small modular reactors.
Author's Detail
Smruti Ransingh, LinkedIn
Smruti Ransingh, holding a Bachelor's degree in Electronics and Telecommunication Engineering, is a seasoned market researcher in the Electronics & Electrical industry. Over the years, she has collaborated with key players in the field, aiding them in identifying market prospects and offering effective strategic solutions. Her proficiency lies in integrating qualitative and quantitative research techniques to conduct Market Assessments that steer business choices.
Author's Detail:
Smruti Ransingh /
LinkedIn
Smruti Ransingh, holding a Bachelor's degree in Electronics and Telecommunication Engineering, is a seasoned market researcher in the Electronics & Electrical industry. Over the years, she has collaborated with key players in the field, aiding them in identifying market prospects and offering effective strategic solutions. Her proficiency lies in integrating qualitative and quantitative research techniques to conduct Market Assessments that steer business choices.
