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Countless changes and upheavals of outdated systems must occur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
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