Green energy and renewable energy sources are projected to account for more than half of global electricity production by 2035.
Hydropower is the most widely-used renewable power source, with the global hydroelectric installed capacity exceeding 1,295GW, accounting for more than 18% of the world’s total installed power generation capacity and more than 54% of the global renewable power generation capacity.
The most common method of hydropower generation involves construction of dams on rivers and releasing water from the reservoir to drive turbines. Pumped-storage type plants represent another method of hydroelectricity generation.
Wind is the second most widely used renewable energy source, as global installed wind power capacity grew to around 840.9 gigawatts in 2022, accounting for approximately 25% of the world’s total renewable energy generation capacity.
When organizations focus on using green energy, they are not just helping the environment – they are helping themselves.
The most obvious benefit of green energy to companies is reduced energy bills. Companies can install solar panels, wind turbines and other forms of renewable energy on their properties and use them to power their operations.
Depending on how much capacity they install and their energy usage, these resources can cover a significant portion or even all of their energy needs. According to data from Energysage, commercial property owners can reduce their electricity bill by 75% by installing solar panels.
Green energy modalities can also help protect organizations from price fluctuations. Energy prices change over time, and sometimes they fluctuate suddenly and severely. Changes in the amount of available fuel, demand for electricity and the costs of generating, distributing and transmitting electricity all impact the price of energy.
If a business owns its own generation resources, however, it doesn’t have to worry as much about potential price fluctuations. This enables them to forecast costs with more certainty.
Energy analysts also contend there’s both increased reliability and increased efficiency with the use of green energy. If you own your own generation resources in addition to being connected to the grid, you decrease your chances of experiencing an outage. Pairing solar or wind with a battery can make your system even more resilient.
Want to learn more? Tonex offers a 5-day Green Energy Mini MBA program where participants learn about the different types of green energy, how they are impacting societies currently and the impact they will likely have in the future.
An important part of our Green Energy Mini MBA involves an in-depth look at the economics of green energy including how corporations can benefit as well as make green energy transformations.
Tonex also offers several more Mini-MBA programs:
Cybersecurity Mini MBA Training Course
Mini-MBA in Business Management for Military and Veterans
Oil and Gas Transformation Mini MBA
For more information, questions, comments, contact us.