Trends in the energy sector

With the developing technology, new trends emerge every day in terms of both the use and production of electricity. These trends, which both facilitate our lives and serve the environment, also shape the future.

With the increasing world population, we need more electricity every day. However, as with all brands, we need to use electricity efficiently and not waste it. For this reason, it becomes important to adopt environmentalist approaches and implement practices that can obtain maximum efficiency. Trends that focus on this approach are emerging around the world. Electricity tariffs comparison and supplier change website encazip.com listed some of them.

Electric vehicles: The global electric car market is expected to fall from $ 533.4 billion in 2019 to $ 515.8 billion in 2020. The main reason for this decline is the economic slowdown in countries due to the Coronavirus outbreak and measures to control it. The market is expected to reach $ 1.2 trillion in 2023. Growth in the market is expected due to reasons such as low cost of electric vehicles, low maintenance costs, less carbon emission, less noise and environmental friendliness. According to S&P Global Market Intelligence, electric vehicle sales worldwide are expected to rise to 6.2 million by 2024. This number is almost three times the sales made in 2019.

The rise of consumers: electricity consumers are also now on their way to becoming producers. From small-scale residential roofs consisting of a single building to large-scale spaces such as university campuses, the problem for everyone today is that consumption and production are not equal. Especially in places that receive the sun well, more energy can be produced than is consumed. Thus, the consumer is now becoming a producer by giving more energy to the grid. Moreover, this happens for a certain fee and can become an additional source of income for consumers. Those who work in the energy sector should also be ready for those who produce energy in this way.

Renewable smart cities: Big cities are getting more and more crowded and the need for energy is also increasing. Private and public companies that go for smart solutions to meet this demand are trying to lower energy consumption with various projects and applications. It is aimed to create sustainable cities thanks to the projects implemented by using mainly solar and wind energy. It is aimed to use 352 million smart street lighting by 2025. It is predicted that smart street lighting will save $ 15 billion in energy for cities by 2023. The top 100 cities investing in smart startups account for 29 percent of the world’s total spending. Tokyo, London, Singapore and New York lead in 2020 with $ 1 billion.

Modern technologies: Today’s modern technologies such as artificial intelligence, machine learning, and blockchain work more integrated with the energy industries. Artificial intelligence and machine learning play an important role in predicting any foresight of companies. On the other hand, they make predictions about irreplaceable energy sources such as wind and sun. Many applications / programs in the energy industry today are used to facilitate the blockchain electricity trade.

Battery storage: Renewable energy sources account for 26 percent of the world’s electricity today, but this rate is expected to reach 30 percent by 2024, according to the IEA. The increasing share of renewable energy sources also necessitates the need to adopt battery energy storage systems technology. Battery storage systems are seen as one of the prominent solutions to effectively integrate the high share of renewable solar and wind energies. Intermittent renewable energy sources such as wind and solar power require energy storage, especially for medium and large power plants. As the cost of battery storage falls, new possibilities in the expansion of renewable energy increase.

Trends in Turkey: Çağada Kırım, founder of encazip.com, says about trends in Turkey: “The number of free consumers in electricity increased by 600 percent in 2019. We expect the rate of increase to continue. In particular, with the new tariff system and further lowering of free consumer limits, we expect that many more consumers will join the market and more than 3.5 – 4 million supplier changes will be made by changing the electricity supplier of 1 out of every 10 free consumers. This means that changing of electricity suppliers will be at the top of the trends for 2021.”

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