The Decade of Electricity: 2020s

 

Global warming, climate change, whichever you call it, is a defining issue of our time. Debated and discussed in homes, educational settings, board rooms, and governments worldwide, everyone can agree that fossil-based energy is a significant part of the problem. To circumvent future (potentially more catastrophic) issues, changes must be made. Over 100 countries have committed to net zero economies in the upcoming 30 years, and more are anticipated.

Global cooperation is possible as long as everyone is working toward the same goal. Net-zero is achieved when human-caused emissions are balanced out by removing Global Greenhouse Gasses (GHG) from the atmosphere, commonly known as carbon removal. GHGs originate from fossil-fueled vehicles and factories, for example. By restoring forests, shifting to electric vehicles, phasing out coal plants, or using other carbon-removal technologies, global emissions can be effectively reduced.

Countless changes and upheavals of outdated systems must occur to achieve this global goal, which is where electricity comes in. Electricity has been making advancements in wind and solar energy, and battery storage. The importance of electrification and energy efficiency is highlighted in nearly every country’s “roadmap” to a net-zero economy.

Battery and electric solutions are becoming increasingly prevalent. To support the transition, we will need to make sure existing technologies such as wind and solar batteries are cheap and undergoing innovation. Electric vehicles, heat pumps, electrolysis, and more are just the beginning of this trend. 

To ensure that electricity is efficiently produced and available when needed, we will need strict protocols on data usage and security, which can be addressed by building these requirements in during the design stages.

Investment strategies might start to include Environmental, Social, and Governance (ESG) criteria, green bond standards, and low-carbon taxonomies. Low-cost money exists in international markets; the energy transition requires significant investment in areas traditional investors might not have ventured. Regulators will be vital to support the transition to low-carbon energy systems to drive out electrification and ensure the most efficient use of power systems. As technology advances, more steps will become clear.

 

Need an electrical part? Contact the experts at J&P Electrical today.

 

J&P Electrical is a full-service electrical equipment company. At J&P, we supply contractors, end-users, and supply houses with new surplus, quality reconditioned, and obsolete electrical equipment. We also purchase a wide range of electrical equipment such as bus plugs, ducts, panel switches, substations, and transformers. Call us at 877-844-5514 or visit us at https://www.jpelectricalcompany.com.

Written by the digital marketing staff at Creative Programs & Systems: www.cpsmi.com

U.S. Beat Projections for Power Sector Emission Cuts

 

A new study published by the United States Department of Energy’s Lawrence Berkeley National Laboratory entitled, “Halfway to Zero,” showed that the power sector has unexpectedly reduced emissions throughout the past 15 years.

Projections made in the United States Energy Information Administration’s (EIA) 2005 Annual Energy Outlook estimated that power industry emissions would increase by 27 percent to just above 3,000 million metric tons (MMT) of carbon emissions in 15 years, ending in 2020.

The power sector has dropped 50 percent below initial projections, reaching zero emissions. The carbon dioxide emissions from the power sector in 2020 were 1,450 MMT, which is over 50 percent lower than the original forecasts and also 40 percent of the 2005 levels.

Public policy, markets, and technology have given way to the swift drop, according to the study. Demand for electricity was 24 percent lower in 2020 than what was predicted by the EIA in 2005. Outperforming expectations, wind- and solar-powered energy delivered 13 times more generation in 2020.

Hydropower, biomass, and geothermal are not in the calculations; however, if they were, the study noted that renewable performance is 79 percent higher than projected. Therefore, the total amount of renewable electricity surpassed expectations by an even larger margin.

Not only is this good news for the environment; it is also good news for the economy. The study showed that power supply-related employment was 29 percent more than 2020 predictions. Since the renewable energy division is so job-intensive, more jobs are required per output than fossil fuels, according to the study.

J&P Electrical is a full-service electrical equipment company. At J&P, we supply contractors, end-users, and supply houses with new surplus, quality reconditioned, and obsolete electrical equipment. We also purchase a wide range of electrical equipment such as bus plugs, ducts, panel switches, substations, and transformers. Call us at 877-844-5514 or visit us at https://www.jpelectricalcompany.com.

Written by the digital marketing staff at Creative Programs & Systems: www.cpsmi.com.