Research firm IHS Markit has published a new report that shows what the future of green technologies looks like in the US and globally in 2021. A sustained rise in green technologies such as solar, wind and biofuels will be a major driver of renewable energy growth and energy efficiency this year, according to the report. We will also see an increase in people’s experience of pandemics based on their experience of pandemics. Green technology, green energy, energy-efficient and green infrastructure will be the popular buzzwords in 2019 and 2021, as well as in 2020, 2021 and 2022.
The report, which is summarised in a new report by IHS Markit’s Global Sustainable Business Trends, predicts that net zero emissions will grow fastest in 2021 – a sustainable business trend. Net emissions are the main trend for sustainable businesses in 2021 and are expected to be a major driver of green technology growth in the US and globally by 2020.
The impact of Covid 19 will develop over the course of the year, but the technological developments in 2021 will be a kind of continuation of 2020. Innovative green building technologies are likely to transform the construction and hospitality industries. Smart City projects will drive smart cities projects worldwide, and the autonomous mobility sector will support the growth of the smart city sector in the US and globally by 2021. The rise of smart cars and smart mobility and smart buildings should not be missing as a technology trend for 2021.
Politics aside, it is undoubtedly exciting to see the world launch in 2021 with promising opportunities for renewable energy. With a renewed focus on the development of renewable energy sources, we hope that future governments “commitments and expectations will further accelerate this.
Businesses will have to switch to renewable technologies and the production of renewable energy, as described in this report, is one such step. This will be particularly difficult, because India’s green transition will require the adoption of new technologies in several sectors, including energy efficiency, renewable energy, energy storage, transport, and infrastructure. The Indian government should set out the best path for the country in terms of more comprehensive and consistent action. Taxation and policy are changing to reflect the parties that are now in charge, but companies like Google, Apple, Facebook, Microsoft, Amazon, and Google Ventures are among those whose companies are making the transition to renewable technologies.
Companies like Amazon, Microsoft, Unilever, and Delta are investing in solutions that are critical to our own decarbonization, and unlocking the technologies that are essential for green growth.
This is expected to be an important factor for the growth of green technology and sustainability over the forecast horizon. Growing awareness of the growing interest of consumers and industry in renewable energy is driving the growth of green technologies in sustainability markets. The cost of renewable technologies continues to fall, and storage plays an important role in this green revolution. This forces the energy and utilities sectors to consider various renewable energy sources, which should in turn boost growth in the market for carbon-free storage and energy efficiency. Renewable energy sources based on technologies such as wind, solar, geothermal and biomass have led to a significant increase in demand for renewable energy in terms of demand and supply as well as the availability of low-cost energy sources.
Indeed, there is much to suggest that this market will grow significantly, such as public support after the Covid 19 pandemic. In terms of the region, North America dominated the global carbon-free storage and energy efficiency market in 2018 and will continue to do so in the future. Britain is expected to expand and the UK represents a significant opportunity for green technology growth in sustainability markets over the forecast horizon.
Green technology is showing its feasibility and funding for various transition technologies, including smart grids and green hydrogen batteries, will increase in 2021, leading to accelerated deployment and development of several transition technologies. The growth of green technologies in the UK in recent years has been impressive, but without government support this would not have been possible.
China has also invested in technologies that are less obviously green, but could still contribute to greater sustainability. In 2019, China even held the world’s largest investment in renewable energy technology, with a total investment of $1.2 billion.
Many are concerned about the rapidly evolving digital development of green technologies, and many of them are related to the future of the global economy and its impact on the environment and human health.
A key example in the renewable energy sector is the development of a smart grid that uses green technologies, offers a more efficient and cost-effective alternative to fossil fuels and helps industry modernise the overall grid. This success is likely to overcome long-standing technical bottlenecks and revolutionize many aspects of green technologies, such as energy efficiency and energy storage. As efforts to optimise green technologies such as bistable displays increase, the above bottleneck can be overcome by encouraging the use of smart grids and other digital technologies in green energy. India is stepping up its action, and a global solution to climate change is possible, with reductions in greenhouse gas emissions – and a shift to a low-carbon economy.