In 2020, child psychiatrists in England reported that 57% of their patients are severely distressed about the state of the environment and the current climate crisis. The American Psychology Association (APA) has even come up with a term for this mental health condition – ‘‘eco-anxiety’’. Chronic fear of environmental change is hitting the young generation hard and not without a reason.
The recent findings state that more than 9 million people die because of air pollution each year. If we don’t take actions to cut down CO2 emissions, by the end of 2070 a range of countries will no longer be suitable for life. High temperatures will increase the need for air conditioning, which, in turn, will result in the growing energy consumption and even more negative impact on the environment.
To stop this vicious cycle, venture capitalists are investing billions of dollars in innovative technologies, governments are expressing their support in green energy initiatives, and financial institutions are funding campaigns that strive to reduce carbon emissions. In this article, the JatApp team would like to discuss the current tendencies in the energy sector, so that you’ll be aware of attractive business opportunities.
Europe is speeding up its transition to carbon neutrality
The major challenge in achieving the Paris Agreement’s goal of “limiting the global temperature rise to below two degrees Celsius” is to reduce greenhouse gas emissions produced by energy-intensive sectors. To meet this ambitious goal, companies, institutions and startups in the energy sector are searching for innovative ways to hasten the world’s shift to carbon neutrality. Today, there are 689 clean-tech startups operating within the borders of the European Union, according to Crunchbase.
By 2040, green energy is expected to account for 70% of global energy. Approximately 80% less carbon dioxide (CO2) will be emitted in the atmosphere. Meanwhile, the world’s energy demands will increase by 28% by the end of 2040. The good news is that this rise in energy consumption can be neutralized by the widespread use of cutting-edge technologies that help to make our planet a cleaner and safer place to live.
Another important factor to address is the Russian invasion of Ukraine that is going to have a long-lasting impact on European countries, making them throw away their current timelines for a clean energy transition. With the prices for natural gas being five times higher than this time last year, Europe is planning to speed up their energy self-reliance. Now, let’s discuss the main ways European countries are planning to meet the Paris Agreement’s goal.
Key ways to achieve net zero goals
Today, the major goal in the energy industry is to reach zero-carbon production of energy. This can be done in two ways: investing in clean energy development to replace fossil fuels or reducing carbon emissions with the help of innovative solutions.
Investing in clean energy
The clean energy market has increased in the last couple of years due to affordability and accessibility of alternative energy sources. Let’s shed some light on the main approaches to renewable energy generation.
The expenses associated with installation of solar panels have decreased by nearly 70% over the last ten years. Moreover, the solar energy market is predicted to rise at a 20.5% compound annual growth rate (CAGR) from 2019 to 2026, topping $223.3 billion by the end of this term. Improving solar panel performance is essential in order to keep the solar power costs low in comparison with the electrical grid. So, it’s no surprise that today’s energy market is filled with innovative technologies that help to capture the sun rays in a more efficient and cost-effective way.
geothinQ refers to a mapping platform that helps to find areas for solar development projects. The solution performs the site evaluation in a matter of seconds, providing stakeholders with all geographic information they require to assess suitability of the land for building solar farms. The technology also enables users to measure risk versus reward when making such a costly purchase.
geothinQ app functionality
The use of wind energy has increased by 14% globally in 2021. On top of that, more than fifty countries produced nearly 10% of their energy from wind and solar last year. The wind power market size is forecast to reach $174.75 billion by 2030.
The wind power technology has a number of tangible benefits, such as quick installation and easy access to resources. In fact, people today can install their own wind turbines at home, if there are no serious obstructions, like trees, buildings, or nagging neighbors complaining about the noise from these turbines.
windPRO is a software technology for planning and designing wind farm initiatives addressed to overcome the challenge mentioned. The given solution allows enterprises to perform wind data analysis, measure uncertainties, determine energy yields, and evaluate site suitability for turbine installation. What’s more, windPRO helps to assess and visualize the environmental impact of wind turbines.
Global meteorological wind data provided by windPRO
The hydro energy market size is expected to reach $342.48 billion by the end of this decade, growing at a CAGR of 5.1% from now to 2030. Europe is considered as the largest segment of the water energy market. We can witness a stable market growth, thanks to favorable government regulations adopted by the European Union, like energy market regulation, as well as the rising energy needs caused by the rapid industrialization. The clean energy industry is expected to soar in the upcoming years as a result of technological breakthroughs and implementation of innovative energy solutions.
As an example, IDRO is a cutting-edge hydro power plant simulation software that allows companies to track energy generation in real-time and control facilities and basins, supporting them in strategic analysis and planning thanks to artificial intelligence (AI) algorithms. The application alerts users whenever the power is unavailable or when it’s the perfect time to make a market offer. IDRO offers comprehensive data to improve performance of all systems in alignment with energy generation restrictions and availability.
IDRO app functionality
Cutting down carbon emissions
In the next few years, businesses will continue to prioritize the goal of reducing their carbon footprint. The use of battery technology, hydrogen fuel, and energy management solutions will support them in their efforts to minimize reliance on fossil fuels.
The use of battery technology
Batteries have already become an integral part of our daily lives, powering our beloved gadgets, like tablets, phones, smart watches, laptops, and so much more. Even though we use them every day, little do we know that batteries play an important role in the fight against global warming. As an energy storage, they enable us to use green energy even when the wind isn’t blowing and the sun isn’t shining.
The battery technology creates opportunities for the 100% electric transportation industry, as well as for the grid that’s fueled by clean energy only. That alone would eliminate two thirds of the greenhouse gas emissions in the world, helping to achieve the goal set by the Paris Agreement.
Twaice is a battery analytics software that allows users to track, analyze, and streamline batteries in real-time. With this solution, end-users can centrally manage their warranties, optimize their operations to ensure longer battery lifetime, and evaluate the effects of various procedures on battery health. Twaice helps users get the best out of their energy storage by controlling and minimizing technical risks.
Twaice app functionality
Hydrogen is widely regarded as the fuel of the future. Despite this, there remains some concern around its sustainability. Hydrogen production in many cases requires energy-intensive processes, powered by either lots of electricity or fossil fuels. In the ideal world, however, hydrogen is generated by means of electrolysis using renewable energy only to split water into oxygen and hydrogen. Since there is a stable growth of the renewable energy market in the last few years, hydrogen fuel is predicted to facilitate the transition to a low-carbon world.
Given the aforementioned opportunities in this sector, many innovative technologies have popped up to support development of hydrogen fuel. As an example, Hydrogen Filing Simulation (H2FillS) refers to software that monitors, predicts, and reports on the changes in hydrogen pressure, mass flow, and temperature when filing a fuel cell electric vehicle. The application allows users to model various fueling stations configurations, fueling methods, and vehicle systems. As a result, this facilitates the supply of hydrogen fuel from the station to a vehicle.
H2FillS app functionality
Energy management solutions
In the coming years, businesses across different industries will continue to invest heavily in energy management solutions to save costs, optimize their processes, and fulfill their corporate social responsibility. By building solutions that power electric vehicles, cut down CO2 emissions, and prevent energy waste, companies will create the foundation for our zero-carbon future.
The JatApp team helped one of our clients to create software technology for operating electric vehicle stations. The given solution enables users to manage charging stations, monitor their performance, as well as keep track of electricity consumption.
Functionality of technology for operating electric vehicle stations
The application we developed is employed by three types of users – support administrators, end-users, and managers of the organizations that purchased or rented charging stations. Administrators can reboot remotely the hardware and software and perform the diagnostics of the electric vehicle station. End users, namely, those who set up the station for their own use, receive daily reports on energy expenses, which allows them to manage stations in a more efficient manner. As for managers, they can report issues to the support administrators as well as implement software reboots. Such a solution helps to address failures in a timely manner and resolve problems remotely. This helps not only conserve energy, but also reduce the carbon footprint.
Another JatApp’s client also makes a good example of an energy management solution. The PropTech startup turned to our company for assistance in building an AI-driven solution that supports energy efficiency in commercial buildings. The self-learning tool connects with the existing heating, air conditioning, and cooling (HVAC) systems, helping to create the most favorable and energy efficient indoor environment.
Building energy management system functionality
The solution analyzes the building data every five minutes to effectively respond to any changes in the indoor conditions, touting decreases in energy use of up to 40%. This technology predicts tweaks with surgical precision, thereby saving more energy compared to traditional building management systems. AI learns users’ habits and building characteristics, which enables the software to improve indoor conditions and preserve more energy with each iteration.
Building energy management system dashboard
Make our planet a better place to live with your solution
As policy-makers around the world turn their attention to cutting down carbon footprint and fight climate change, investments in clean technologies certainly cannot be overlooked. The sustainable future of energy heavily depends on innovative solutions that would help to manage, control, and preserve energy consumption.
If you’re planning to help the Earth fight global warming, it’s never been a better time to build a solution that will let humanity get closer to carbon neutrality. JatApp is a software company that would help to turn your most ambitious idea into a living reality. Our company has been in the software development business for seven consecutive years. During all this time, we’ve gained enough experience in clean-tech solutions and developed products that attract millions of investments and thousands of active users. JatApp prides itself on being one of top 1,000 B2B outsourcing companies in the entire world!
Want to cooperate with us? Please, don’t hesitate to contact us and we’ll reach you as soon as possible.