Predictions from multiple organizations indicate a significant surge in renewable energy capacity in the coming years. For instance, the International Energy Agency (IEA) reported a record year for renewable energy additions in 2023. It forecasted that renewables could surpass coal to become the largest source of global electricity generation by 2025.
However, the path to a full energy transition is not all chipping birds and roses. In addition to market barriers and regulatory obstacles, the need for continuous technological advancements is a critical issue highlighted by many – The US Department of Energy and the IEA, to name a few. Here, innovation remains essential for making the energy transition a reality.
In this blog post, we explore three emerging technologies at various stages of development that promise to revolutionize the renewable energy landscape.
Perovskite solar cells
We are crazy about solar, and so is the world – the solar PV and batteries combination is set to be the power couple going forward. But even if solar PV is already one of the cheapest, most scalable, and flexible energy forms, there is room for innovation and improvement. That’s where perovskite solar cells come in.
Perovskite solar cells are a type of photovoltaic cell that uses perovskite-structured compounds, typically a hybrid organic-inorganic lead or tin halide-based material, as the light-harvesting active layer.
This new innovative solution is relevant because one of the downsides of solar energy is its “lower” efficiency, which is usually around 22% of capacity. Even 22% of energy from the sun is immense power – yet we can do better. Perovskite solar cells have demonstrated rapid improvements in efficiency, now rivaling traditional silicon solar cells. Their high absorption coefficient means they can capture more sunlight even with a thinner film.
These cells can also be manufactured using low-cost materials and simple fabrication processes, like solution processing or printing, which are less energy-intensive than silicon wafer production.
Floating wind turbines
One of the most important decisions in developing an offshore wind farm is choosing its location. Often, these farms are limited by the seabed and depth of the waters available.
Unlike traditional fixed-bottom turbines that are limited to shallow waters, floating wind turbines can be installed in deeper waters, tapping into stronger and more consistent wind resources. A report by the International Energy Agency (IEA) highlights the immense potential of offshore wind, estimating that floating wind turbines could generate more than 11 times the world’s current electricity demand.
Stronger and more consistent wind resources are not the only benefit – floating wind turbines also contribute to geographical flexibility. They can be installed in locations previously unsuitable for traditional wind turbines, which means that it is now possible to expand into new regions, supporting the diversification of renewable energy sources. This is highly beneficial for achieving energy security and resilience.
On the downside, engineering challenges, like ensuring the stability and durability of these turbines, are critical and require ongoing research and development.
Advanced biofuels
While wind and solar power primarily generate electricity, which must then be transmitted and distributed through the electrical grid to end-users, advanced biofuels are produced as liquid fuels that can be directly used in existing engines and infrastructure.
Advanced biofuels utilize algae and other non-food biomass sources to provide a sustainable alternative to conventional fossil fuels with lower carbon footprints. These biofuels can substantially reduce greenhouse gas emissions, and their diverse applications range from transportation to aviation, making them a versatile solution.
Compared to conventional fuels, they can reduce lifecycle emissions by up to 90%. They utilize waste materials, avoiding competition with food crops, and can be used in existing engines with little to no modification.
This compatibility makes them a practical choice for reducing emissions across various sectors that are hard to electrify, including aviation, where bio-jet fuels are already in use. This is a significant advantage, as other renewable sources, like solar or wind, stored in ion batteries are impossible to use in transportation due to their relatively low energy density compared to traditional fuels.
Despite their promise, advanced biofuels face some challenges. High production costs and complex logistics for feedstock supply are major barriers, as noted by the National Renewable Energy Laboratory.
