Harnessing Renewable Energy: Case Studies and Use Cases for Fueling the Future

Interest in renewable energy continues to grow as more and more countries, companies, and individuals pursue energy sources beyond fossil fuels.

In fact, global energy capacity from solar, wind and other renewable energy sources will increase by 50% in 2023. More than 110 countries participating in the UN COP28 climate change conference agreed to triple that capacity by 2030 and made global investments in clean energy. The size of the energy transition in 2023 will reach a record high of $1.8 trillion.

But with all this new capacity, how are our renewable energy resources actually being used? Here we look at examples and applications of renewable energy across a variety of industries, their impact on energy systems, and the energy technologies that will drive renewable energy use in the future.

What is renewable energy?

Renewable energy, also called green energy, refers to energy generated from natural resources such as sun, wind, rain, geothermal heat, and seaweed. Fossil fuels, including non-renewable energy sources such as oil, coal, and natural gas, are finite resources, whereas renewable resources are replenished over time and are considered inexhaustible (i.e., there is no risk of depletion or complete exhaustion). . These power sources generally have a lower environmental impact than fossil fuels. Fossil fuels contribute to global warming and emit carbon dioxide and other harmful greenhouse gas emissions (GHG), which are widely considered the main cause of climate change.

Types of renewable energy sources include:

• sunlight: Sunlight is converted into electricity and heat in two ways. Photovoltaics (PV), the most common method of producing solar energy, collects sunlight and converts it into electricity through solar panels. For large-scale use, concentrated solar power (CSP) methods use mirrors to collect sunlight for a fluid-filled receiver that generates thermal energy for power.
• wind: Individual wind turbines and large-scale wind power plants produce electricity by utilizing the kinetic energy of the air. Wind power can be generated from turbines on land as well as offshore wind farms.
• hydro: Hydroelectric power is hydroelectric power produced by using tidal power, water bodies, and dams to move turbines that produce electricity. About 60% of all renewable electricity comes from hydropower, which is the largest contributor to renewable electricity globally.
• geothermal: Hot steam and hydrocarbon steam from geothermal reservoirs in the Earth can be used for energy production. Geothermal heat pumps (GHP) are used to provide heating, cooling and hot water to homes and offices.

Biomass is sometimes considered a renewable energy source. The term biomass energy refers to the conversion of organic materials and by-products (including organic materials such as wood or waste) into electrical energy or biofuels such as ethanol or biodiesel. However, producing this form of bioenergy can contribute to greenhouse gas emissions and deforestation. As a result, some do not consider it a fully renewable energy source. Additionally, although nuclear power is often considered a “clean” energy source due to its low carbon emissions, it is not renewable. Nuclear power requires uranium, a finite resource.

Leading countries

Governments around the world are working to increase the production and use of alternative energy to meet energy consumption needs. Reducing dependence on fossil fuels and diversifying our energy mix can help countries protect ecosystems and biodiversity by lowering carbon emissions and contributing to international efforts to limit global warming. It is also attractive to those seeking increased energy security and independence because renewable energy sources are locally available and less affected by price volatility and geopolitical tensions. Many governments also see renewable energy as a way to improve the economy through job creation and investment and improve public health by reducing air pollution.

• Iceland: Famous for its unique geothermal terrain, Iceland is a world leader in the utilization of geothermal energy. More than 85% of Iceland’s electricity comes from local renewable sources, including hydroelectric and geothermal power.
• Portugal: Portugal is one of the first countries in Europe to commit to carbon neutrality by 2050. Portugal set a record last year for being powered exclusively by renewable energy. The country’s consumption needs of energy produced from renewable energy sources for 149 consecutive hours, i.e. more than 6 days.
• Uruguay: Uruguay has invested heavily in wind and solar power and now gets nearly 98% of its electricity from renewable energy. The country’s decarbonization efforts and rapid transition to renewable energy were prompted by rising fuel prices in the early 2000s.

smart city of the future

Cities, towns and other communities are also assessing their environmental impact and incorporating renewable energy into their energy generation plans. Local programs are using renewable energy sources to offset electricity costs and provide greater reliability. With decentralized energy systems, microgrids and smart grids, communities are diversifying their options for electricity supply and monitoring systems for more efficient use. These systems can be especially useful during natural disasters, cyberattacks, or other events that could disrupt local power supplies.

Some cities are requiring new construction to include energy-efficient green buildings or offering incentives to encourage older buildings to be modernized for renewable capacity. Others are leveraging renewable energy in their city infrastructure by installing solar street lights or purchasing electric school buses and other vehicles.

How companies can leverage renewable energy

Businesses and organizations seeking more sustainable energy sources have a variety of ways to source renewable energy. You can invest in and install your own equipment, from solar panels to wind turbines, to generate on-site power. Many power companies offer businesses the option to purchase green power by paying a premium for electricity produced from renewable energy sources. Other companies sign power purchase agreements (PPAs) or long-term contracts with renewable power producers, such as solar or wind farms. This provides cost savings for buyers and stability for suppliers.

They are using renewable energy for a variety of purposes, including:

Strengthening operations: In manufacturing, wind energy and solar energy supply fuel to warehouses and factories. The agricultural sector is reducing dependence on fossil fuels and reducing operating costs through innovations such as solar-powered irrigation systems. And as the growing use of artificial intelligence (AI) and other new technologies increases demand for energy-intensive data centers, major technology companies are turning to renewable power sources to limit their environmental impact.

Optimize energy efficiency: Companies are also investing in technology to optimize energy use and further reduce carbon emissions. By integrating smart grids and Internet of Things (IoT) devices, businesses can manage their energy use more effectively.

Building a sustainable supply chain: Companies are looking beyond their own operations to their supply chains, recognizing that they can have a significant impact on Scope 3 emissions. They are increasingly requiring their suppliers to use renewable energy and adopt energy efficient practices.

Meet compliance and sustainability reporting requirements: Using renewable energy helps companies meet mandatory reporting requirements and contribute to local and international goals in the fight against climate change.

Improve brand reputation: More and more consumers prioritize sustainability and prefer companies that offer eco-friendly products. By leveraging renewable energy, companies can position themselves as industry leaders and attract customers who care about the environment.

Create new revenue streams: Companies that produce more renewable energy than they consume can sell the surplus energy back to the grid through feed-in tariffs or net metering agreements. You can also obtain a Renewable Energy Certificate (REC) for the power you generate. Some companies are adopting the “Energy as a Service” (EaaS) model, giving other companies the opportunity to manage their energy systems and efficiency.

what will the future be like

Looking ahead, innovations in renewable energy storage and grid integration will open new doors to ways to harness green power, while artificial intelligence and machine learning will help optimize energy use. Countries, businesses, communities and even individuals are showing that integrating renewable power into their business operations can foster both sustainability and innovation and pave the way for a more sustainable future. How can your organization contribute itself?

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