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Transforming the Energy System: Challenges and Opportunities

From the past few years, climate changes are posing a threat, impending doom that has led countries to implement initiatives to tackle its repercussions. The current energy system is heavily based on non-renewable sources of energy, and a paradigm shift is taking place towards renewable energy sources. This transformation in the energy system has its challenges.

The first challenge is energy efficiency where technology plays an imperative role by introducing automation systems in companies and homes, it will have control over consumption patterns. It will also provide data that can be useful for analysis. However, there are other means to be highly efficient such as recycling or lean manufacturing (minimum wastage and maximum productivity). The recycling aspect is limited to certain things therefore, technological advancement can accelerate the transformation of the energy system.

Decarbonisation

On the road to decarbonisation, nothing is better than renewable resources to sustain humankind. The world is moving towards solar and wind sources of energy, and the challenge is to bring down the costs. Investing in new renewable technologies is also essential as well as in biofuels. Wind and solar energy would be ruling the planet by 2050 if there is allocation of funds and resources to build a sustainable future. A paradigm shift is being witnessed striving towards low carbon and renewable energy sources. For example, The Paris Agreement aims to combat the climate change threat by keeping the global temperature rise below 2 degrees celsius.

Talking about decarbonisation, it would need a huge quantity of biomass for heat, transport and electricity. In transportation, alternative fuel is required to replace oil,and this is where biofuels come into play. It would prove highly beneficial in the transportation and aviation industry.

Gas

Gas plays a vital role when it comes to energy management. To reduce the emissions, a substitution of coal with gas would be a better option yet it needs a more efficient integration system to handle such as more storage capacity and supply sources. In India, there are millions of people in rural areas who still rely on cow dung for cooking and other activities. This causes a lot of respiratory problems.

Coal and Oil

In lieu of emerging clean technologies and striving towards green energy, renewable resources like coal and oil have to be replaced but this shift wouldn’t be 100%. Both will remain a part of the energy mix in the coming years. The idea is to reduce the dependency on these as their involvement in the other sectors is evident.

Nuclear energy

The word nuclear resonates with the harrowing incident that took place at the time of WWII when the US bombed Hiroshima and Nagasaki areas of Japan. Over the years, there has been a significant development in the nuclear energy field, and the new nuclear technologies can help tackle the waste and safety concerns. It is an excellent and cheap alternative for companies if harnessed swiftly. 

What are the Key Focus Areas?

The synergy between renewable energy and energy efficiency: It must be the topmost priority of energy policies to achieve the desired effect of decarbonisation by 2050.

A power sector highly based on renewable energy: A fundamental shift in the global energy system is on its way. To make this happen, holistic policies and co-ordinated approaches across various sectors and countries are required. It also involves infrastructure deployment, sector regulations redesigning for cost-effective solar and wind generation on a massive scale. These energy sources are the backbone of the energy systems now and in the coming years. 

Increasing the use of electricity in transport and building industry:

When it comes to urban planning, integration of policies would enable a cost-effective, decarbonisation of heat and transport sectors via electrification. It must be noted that renewable electricity is a part of the solution, and other solutions are required to be deployed such as solar thermal, bioenergy and geothermal. 

Fostering Innovation:  For successful global energy transition, besides renewable energy, technological innovation plays a key role. Innovation is essential and for that policies encourage research and development (R & D). The governments and the private sector should come together and work on innovations for a swift energy transition.

How India is at the forefront of Solar Energy?

With a target of 100 GW by 2022, India is heavily investing in increasing its solar cover. Karnataka took first place in generating solar energy. As per the records gathered in 2018, its capacity stood at 5, 328 MW. Telangana bagged the second position, its capacity stood at 3501 MW. The other states are in order: Rajasthan (3081 MW), Andra Pradesh (2820 MW), Tamil Nadu (2055 MW) and Gujarat (1607). It’s no wonder that the future holds immense job opportunities for the workforce. India is at the forefront of increasing its renewable energy cover, and energy management would require budding managers to manage the operations. There are best energy management colleges in India that can shape the career of whoever aspires to be in this sector and wants to contribute. 

There has been a collective effort to limit the rise of global temperature below 2°C, and renewable resources are an inevitable part of this climate solution. It is the solution that is happening in many countries yet renewable sources continue to dominate the world. To manage the temperature, cumulative emissions must be reduced by 470 gigatons. 

It’s no doubt that there are challenges but with opportunities to innovate. To enable such a transformation, there should be a course that can facilitate the process, and with the right knowledge can prepare students to manage the operations and contribute towards sustainable development. NTPC School of Business is one of the best energy management colleges in India that can transform the students’ lives. It will equip them with the right tools, and they can pave their path. Somebody who is passionate and has an innate desire to save the planet should pursue an energy management course to build their career. Don’t waste the opportunity and become a part of the initiative!

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