The global pandemic in 2020 has significantly affected many aspects of our lives. We are witnessing changes and transformations in many fields from automation to energy in this golden age of digitalization. So, what will be the trends in the energy sector in 2021, let’s see together.
1-Corporate Energy Purchases Will Accelerate
A corporate power purchase refers to an energy purchase agreement between an energy producer and a company that uses large amounts of electricity. The enterprise energy market is largely driven by large tech companies that have signed long-term deals to buy electricity from massive-scale solar and wind farms.
2-Zero Carbon Emission Will Increase Its Importance
Although global climate change has lost its importance due to the pandemic, a new environmental order is now indispensable in today’s world. According to a report by the Energy Transitions Commission (ETC), reaching net zero carbon emissions by the middle of this century requires an additional investment of $1-2 trillion annually, or about 1-1.5% of global GDP. For this investment, in order to keep global warming below the 1.5 degree mark, it is necessary to reach the net zero carbon emission target. According to a study, global warming has cost the US and EU at least $4 trillion since 2000, and tropical countries have become 5% poorer than they were before global warming began.
3-Hydrogen Returns to Fields
A recent survey of 1,000 industry executives concluded that hydrogen fuel cell technology will outperform battery-powered electric vehicles. Technological advances and tons of money in R&D are inviting hydrogen back into the field for a potentially huge payback. The ambitious hydrogen strategy of the European Union and the transition of giant utilities to hydrogen lead to a forecast of 11 trillion dollars hydrogen market by 2050.
4-Electric Vehicles Accelerate Change
With oil prices rising, resources dwindling, and environmental pressures increasing, it’s hardly surprising that governments and citizens around the world are looking for better, cleaner and more efficient alternatives to petrol cars. Countries like the UK, Norway, France and Germany have even passed a law banning the sale of new non-electric vehicles in early 2025. But just like the first cars from more than a century ago, producing EVs for the mass market presents a host of challenges. It is not easy to offer a viable alternative to the Internal Combustion Engine (ICE).
But it takes time to turn them into motors, control technologies and batteries, develop and perfect models, and spur widespread adoption. However, one of every 40 vehicles sold in 2019 is an electric vehicle, and Tesla’s shares, which set a record during the pandemic, already say that 2021 will be a good year for electric vehicles.
Although the factory and automation sector comes to mind when Industry 4.0 is mentioned, it is very important in the digital transformation in the energy sector. The digital revolution, called Industry 4.0, includes innovative technologies for building smart grids and managing distributed production. It provides serious opportunities for businesses to reduce costs, as it allows the digitalization of IoT-enabled energy applications and remote intervention processes. Again, IoT sensors and drones do very well in maintenance and operation processes in power transmission lines.