The biggest problem with “solving” the energy crisis is that people are just looking for something simple. In their mind, this is one question with a single solution; once we find it, it will all be OK. The problem is that the “energy crisis” is an amalgamation of problems, some being socio-economic, while others being practical and technological.
The bottom line is that, to solve it, we need to offer many different solutions (each fixing a part of the problem). When we apply a sufficient number of these solutions, we might make matters better.
So, since the “solution” must come from many different angles, here are the top seven industries we should look toward.
1. Renewable energy
The most obvious way to solve our energy crisis is by spending more resources on solar panels. There’s a huge push in Latvia to get the ball rolling on a much larger scale.
The thing is that these major plants aren’t the only way for change to be introduced in these spaces. Namely, when a house installs solar panels on the roof, all the homes in the neighborhood are about 50% more likely to do so. Being energy-friendly and self-sustainable is, apparently, contagious. It’s a way to solve your energy problems and set a better example you know people will follow.
The biggest problem with renewable energy is that the potential depends on the region. Not every region has as much sunny hours, and not every region has as big of a hydro potential. You must develop a customized plan for each country instead of repeatedly pushing the same agenda.
2. Electric vehicles
Electric vehicles are far more energy-efficient than their fossil fuel-based counterparts. Sure, you still need to produce this electricity. Still, they transform a far higher percentage of the energy from the grid into the wheels than the energy lost in internal combustion engines.
Besides this, there’s far less pollution (only while producing power, not combusting fuels). This means we must invest less time and energy in producing massive purifiers. Remember that fuel refineries cause much pollution, which you cannot avoid in this process.
V2G technology makes the energy flow between the grid and the vehicle bi-directional. This means a car can send the excess power back to the grid. This level of efficiency makes all the difference.
The most important part is that this is one of the fastest-evolving tech fields. This means that this efficiency may only go up in the future.
A lot of people see cryptocurrency as just another part of the problem. After all, digital money has to be hosted somewhere, which leads to increased hosting capacities, which is incredibly power-hungry.
The problem with this logic is that almost all money today is digital, and physical cash payments are a microscopic portion of the market. This entire system needs to be maintained electronically, and crypto is, at least, trying to solve the problem.
For instance, one of the best new cryptos which you can buy is eTukTuk, a Binance Smart Chain-based crypto, offering an energy-efficient solution to TukTuk transport in developing nations. This way, the token in question does its best to level the field and make up for its hosting. As a result, this token's carbon footprint is much lower than it could have been.
This is just one example, and many other platforms follow the lead.
4. Smart technology
Smart technology is incredibly efficient at getting the most out of any fixture or appliance. First of all, you can track energy use in real-time. You can program the device to spend power optimally and fluctuate throughout the day.
One of the most wasteful power-using methods is turning your heating on before you go to work so that the home is heated when you return. The alternative is that you wait in an empty place for the heating to kick in. With a smart thermostat, you can remotely set the temperature on your way home.
This way, you can program your outdoor lights to turn off at a certain point at night. You can also check if you’ve left your lights on while away. This level of control can make your power-saving habits simple and programmable. In other words, saving power becomes simple and convenient.
5. Biofuel industry
The biggest problem with energy security is that fossil fuels aren’t available worldwide. This allows some countries with energetic monopolies to dictate the price and creates scenarios where moments of strategic emergency may cause an energy crisis.
The biofuel industry is available to any country capable of growing crops. No, you no longer need oil wells and coal mines within your country to reach a much higher level of energetic independence.
Even countries that still intend to use other fuel sources could benefit from diversifying energy sources. Just think about it; you don’t have to replace all your natural oil use with biodiesel and synthetic fuels. However, if you just partially replace them, you could achieve wonders.
In terms of eco-friendliness, there’s a reduced greenhouse gas emission rate. Most importantly, this biofuel will partially come from waste and byproducts of the agricultural industry. In other words, there’ll be less waste.
6. Nuclear energy
Nuclear energy is one of the world's most misunderstood sources of energy creation. However, its notoriety, which stems from nuclear weapon fearmongering and one or two incidents in its history, has made people turn their back on technology with such amazing potential.
The key thing to remember is that while nuclear energy is much cleaner and more efficient, it’s still in its early stages of development. After all, we’re just using nuclear fission to create energy, which is far less potent (and causes more pollution) than its nuclear fusion counterpart.
With the latest developments in laser technology, we may finally have a way to produce sufficient heat in a contained system to make nuclear fission possible. This means we will soon be on the brink of generating star power.
7. Battery and energy storage industry
Electrical power heavily depends on grid stability and resilience. You see, you cannot produce energy in real-time and expect high network stability. The power demand surges and drops, and you need a healthy reserve to keep up with its ever-changing demands. In other words, with decent batteries, you’ll have an easier time making your grid more versatile and resilient.
Since all of these vehicles are connected to the same grid, data volumes are available for analysis. This allows for far more accurate peak shaving and load management. It also allows for the formation of microgrids and decentralization, which could further increase the network's resilience.
Remember that it’s not just about the infrastructure either. For this to work, you must invest more heavily in integrating battery intelligence systems. These platforms will help you get the maximum value from your batteries and elevate your work to the next level.
Since you can now use power more efficiently, there’s no need for so much power, which reduces costs, efficiency, and environmental impact.
The only way to solve this problem is to approach it from many different angles
Combined, these many solutions may finally fix our energy problem. Through higher reliance on renewable energy and more efficient use of energy that we’re already producing, we’ll already make a massive leap forward.