Green Tech –
Ocean Day is a celebration of our ecosystem, where we see the future of the planet and its residents. This 8th June, we acknowledge the future of our blue oceans with green technology that is healthier for all of us. So, what healthier options are we talking about with the help of technology?
With the emergence of ocean day, “Green Technology” is an abbreviation of Green Tech. It refers to a type of technology that is environmentally friendly in its production process or supply chain. It is also referred to as clean energy production with the use of alternative fuels and technologies that significantly harm less than fossil fuels.
Let’s unwrap more about Green Tech and learn more about it!
Industrialization has seen a limiting binary choice between progress and environmentalism. However, now we know that environmentally-friendly technology is created every day, and these new choices are called “green tech.” These green tech solutions are the replacements for pollution-creating solutions. According to Forbes, solar and wind power is often cheaper than power from fossil fuels, and their daily operations undercut even the most cost-effective coal plants.
Although the market for market green technology is relatively young, it has garnered a significant amount of investor interest with increasing awareness about the impacts of climate change and the depletion of natural resources.
Creating green tech solutions is our way of contributing to green tech that offers cutting-edge options to the older ways of doing things. EVs are less expensive to own and operate than internal combustion vehicles.
In-depth about Green Tech
Green technology is an umbrella term that describes the use of technology and science to create products and services that are environmentally friendly. It is related to cleantech, which specifically depicts the products or services that improve operational performance, reducing costs, energy consumption, waste, or negative effects on the environment.
The Ultimatum of Green Tech
The ideal goal of green tech is to entirely protect the environment, repair damage done in the past, and subjectively conserve Earth’s natural resources. It has also become a burgeoning industry that attracted enormous amounts of investment capital.
The usage of green tech can be a stated goal of a business segment or a company too. These goals are outlined in the company’s environmental sustainability and governance statement (ESG). It can be found in the mission statement of a firm that is increasing with social responsibilities as investors are looking to narrow down their prospective investments to only include companies that specifically employ or produce green technologies.
Some kinds of green energy follow:
Wind Energy: Considered the most renewable form of energy, wind energy is suited to high altitudes and undeveloped plains. It uses the power of wind-pushing turbines to collect energy.
Solar Energy: The most common form of green energy, harnessed using photovoltaic cells to capture sunlight and turn it into electricity. It can also be stored in places such as an EV battery to be used at other times.
Hydroelectric Energy: It is a common practice to produce energy with the power of streams, rivers, and ocean tides.
Geothermal Energy: It is any kind of energy trapped under the earth, like a natural hot spring that is accustomed to geothermal power. We can use these springs for bathing as well as a heat source. According to experts, there is enough heat located just under the US to produce ten times as much energy as coal.
EV: EVs are good for the environment even when the EV manufacturing process is powered by fossil fuels. EVs are the most environmental-friendly option and hold the potential for future advancement.
Adoption of Green Tech
Green tech is another frontier for green tech adoption, with fossil fuels recognized as a significant driver for climate change. According to Energy Information Administration (EIA), solar and wind power together accounted for 70% of the new energy capacity added in 2021. Worldwide global investment in renewable sources exceeded $300 billion in 2020.
Green tech is a broad and hard-to-define category, and some types of green technology have experienced wide adoption. Many countries have launched initiatives to eliminate single-use plastics. It is a goal that would require sizeable investments in alternatives like paper substitutes, bioplastics, and recycling technologies; for example, Singapore has pledged to reach 70% recycling by 2030.
How the Future World will Look Like
The world is going electric, and the simple act of driving with an internal combustion engine is getting more expensive. Gas prices are at the highest point in history, and people are looking for a permanent option. This may be the move for auto manufacturers to introduce their EVs into the market.
Governments around the world are authorizing an end to petroleum-based vehicles, and the sprint toward the electric future is on. Now can be a great time to take control of EVs. While there are questions about the ethics of how the batteries are mined, the environmental impact is still far less than it is for oil and gas.
Battery technology is constantly evolving, and scientists have figured out to build a solid-state battery that does not contain any expensive rare earth materials like cobalt and nickel. This will make batteries cheaper, which will, in turn, make EVs more affordable, too! Solid-state EV batteries are still a few years away, but with major players involved, we are confident that we will see solid-state batteries sooner rather than later.
Soon, “Do you have EV charging stations?” will become a standard question when looking for apartments. It will be an important thing when you own one, especially since 80% of EV charging is done at home. Being able to provide EV charging benefits is more than just EV-owning residents, as the property owners also benefit. The future of EV charging certainly looks bright!
This Ocean’s Day, we have plenty of opportunities to educate people around us, be a part of the solution and embrace green tech like EVs. This can not only improve life for the inhabitants of the planet but also improve the bottom line for companies that want to be on the cutting edge of new technology. Our ocean’s health and our own depend on coming up with new high-tech solutions that cause pollution.