info@marketresearchfuture.com   📞  +1 (855) 661-4441(US)   📞  +44 1720 412 167(UK)

Expansion of Power Grids Necessary with Changing Energy Market Scenarios

By Snehal Singh , 09 September, 2024

Power grids are gaining momentum worldwide due to increasing demands for renewable energy. There is a shift in power from fossil fuels to renewables due to the transition to clean energy. This leads to a shift towards renewable energy. Hence, the power grid expansion with renewables will be necessary to solar and wind energy generation in 2024. The change in the energy sector leads to several opportunities for energy market expansion.

According to a survey in 2024, wind and solar energy tend to be the significant contributors to alternative energy sources. Solar and wind energy sources are primary renewable sources of electricity generation. The survey claims renewable sources like solar and wind may contribute up to 42 percent to electricity generation by 2028. Therefore, storing renewable or clean energy that requires efficient batteries is essential. It is necessary to store clean energy as these are less efficient than fossil fuels. With the help of efficient batteries, it will be easier to power the grids during peak demands of the year. Solar and wind energy production completely depends on weather conditions. It is necessary to build infrastructures and manufacture efficient batteries to store them for adverse conditions. For countries like the United States, where solar panels are more dependent, it is essential to store clean energy.

Experts claim that investment in renewables compared to fossil fuels is necessary to power the utility plants. In order to achieve net zero emissions by the end of 2050, it is essential to store renewable energies with efficient batteries and specific energy infrastructures. Moreover, the surge in demand for artificial intelligence and innovations in the energy market requires power grid expansion in 2204. Hence, it is necessary to boost the expansion of power grids to support the changing dynamics of the energy market.

Renewable Energy Generation in the United States

POWER-GRIDS-EXPANSION.jpg

Latest News

period.png
Packaging Manufacturer Collabs with Solar Projects to Enhance Cleantech in 2024

Companies are making significant moves towards the clean energy transition in various ways. In order to reduce carbon emissions, certain companies are investing in several rescue methods in 2024. Renewables production is growing over time as the…

Read More

Amazon.png
Amazon Enables News Technologies to Help its Business Customers

Amazon is one of the leading global e-commerce platforms for consumers. The brand boosts its online shopping experience for users in multiple ways. Surveys show that Amazon regulates several business solutions to increase its products and services…

Read More

2023.png
Asian Carbon Emissions Affects West’s Clean Energy Transition Process in 2024

Globally, countries are facing challenges in the transformation of green energy. The economies worldwide target to achieve net zero emissions. Hence, countries are introducing several ways to reduce environmental carbon emissions. Developing…

Read More

2023.png
China to Boost Oil and Gas Production from New Sources in 2024

China is the leading nation in the energy market. Since the clean energy transition focuses on renewables, China surpasses other nations in renewables production. In a mission to strengthen its energy security, China moves forward with oil and gas…

Read More

market.png
China Copper Export Increases in the Global Market

There will be a surge in copper demand in the energy market in 2024. The growing demand for copper contributes to different usages in the energy market. China stands out in the copper exports of 2024. The Chinese economy is booming, with an…

Read More

Author Pic
Snehal Singh

Assistant Manager - Research