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Countless changes and upheavals of outdated systems must occur to achieve this global goal, which is where electricity comes in.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