Technological Advancement in Renewable Energy
Technological Advancement in Renewable Energy

Author(s): A. A. Freeman
Subject(s): Politics / Political Sciences, Politics, Economy, Business Economy / Management, Energy and Environmental Studies, Economic policy, Environmental and Energy policy, Green Transformation
Published by: Университет за национално и световно стопанство (УНСС)
Keywords: renewable energy; energy infrastructure; energy transformation
Summary/Abstract: Over recent decades, the global energy sector has undergone a profound transformation due to significant advancements in renewable energy technologies and supportive policies. Key legislative actions in the U.S., including the Inflation Reduction Act, Bipartisan Infrastructure Law, and CHIPS and Science Act, have facilitated an unprecedented financial infusion exceeding $2 trillion to accelerate clean energy development. These laws allocate funds towards upgrading energy infrastructure, incentivizing private investments, and supporting consumer adoption of clean technologies. Notably, the U.S. National Science Foundation's Regional Innovation Engines program, launched in 2022, aims to foster long-term, transformative innovation in clean energy through substantial funding. Technological progress includes dramatic reductions in battery costs, enhancing the affordability and competitiveness of electric vehicles, and advancements in renewable energy technologies such as solar PV and wind. However, challenges persist, particularly in scaling up battery technology and hydrogen production. Addressing these challenges requires ongoing innovation, substantial investment, and supportive policies. The future of a sustainable energy system depends on continued collaborative efforts from governments, industry leaders, and research institutions to meet ambitious decarbonization goals and ensure a resilient energy infrastructure.

• Details
• Contents