This year is full of promise for the renewable energy investment space, and rightly so. The higher overall integration of a more planet-friendly approach through increasing adoption of sustainable energy and decarbonising practices and solutions will undoubtedly take centre stage in this new year.
With innovations driving transformations across processes to achieve lower carbon emissions, reduced energy costs, increased employment opportunities, and enhanced energy diversification, it is difficult to ignore the benefits of expanding the renewable energy space.
The clean energy space requires scaling up on a massive level to unlock its true potential. More and more people now understand that an increase in investment, awareness, and acceptance towards renewables can provide long-term benefits for the environment, climate change, human health, energy availability, and global job creation.
The average market capital in the green energy portfolio genuinely needs to grow to keep the wheels of fighting climate change in motion, and governments and organisations across the region are proactively working towards it now.
Last year was one of the most transformational years considering people’s and businesses’ approaches towards the concept of sustainability in general.
Moreover, the global energy system needs a considerable influx of financial resources to stand a chance to meet the goal set under the Paris Agreement by the UN to curtail the rise in average global temperatures below 2°C and eventually to 1.5°C by 2100.
The UAE has also stepped forward with its strategic nationwide initiative, net-zero by 2050, which aims to achieve net-zero emissions by the year 2050, to make the Emirates the first nation in the MENA region to do so.
Active conservation through greener practices and clean energy utilisation to achieve these climate goals has become a prime focus area for authorities and economies across the globe to help ensure the survival of our cities in the future.
2022 can and should be the year to put a spotlight on developing a low-carbon, sustainable, and green global economy.
Technological advancements are making renewable energy adoption and access much more possible than before. Over the past couple of years, advanced and innovative financial tools and solutions have allowed more extensive capital access to the clean energy industry.
For example, SunMoney Solar Group currently runs the world’s most extensive global Community Solar Power Programme, which is a unique and sustainable initiative to incentivize individual investors to invest in solar power plants to help reduce the world’s carbon footprint and reap returns simultaneously.
As the capital in the green energy space multiplies in the years to come, it will help drive growth and amplify renewable technologies’ deployment to optimise energy consumption on a global level. Electricity prices are skyrocketing, and our natural resources are depleting rapidly – integrating renewable energy solutions is now crucial to collective survival.
The stable growth of renewable energy technologies and the evident cost-competitiveness of renewables, especially solar and wind power, are now paving the way for a more thoughtful approach to power-grid management.
Amidst intensifying needs for digitalisation and decarbonisation, smart grids are a vital tool to aid utilities in achieving their energy transition and optimisation goals. Essential for transitioning to a low-carbon electricity grid, smart grid infrastructure is designed to include intermittent renewable energy generation, reduce losses, manage peak load effectively, improve quality of service, increase reliability, better asset management, and lead to self-healing grids.
With more and more governments calling for the active decarbonisation of the energy sector, utilities across countries are finding themselves turning to initiate smart grid rollouts to ensure that they can meet the net-zero goals.
Tapping into renewable energy is not just an incredible investment and growth opportunity; it is now instrumental to cultivating a cleaner, healthier, and greener planet.
Zoltan Rendes, partner and CMO of SunMoney Solar Group
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