Top Trends in Cleantech, 2024

What drives us to talk about Cleantech? ensun aims to speed up global business progress. Our web crawlers gather data, and our text-based algorithms organize it systematically. By combining our internal data with external sources, we offer insights into the latest technologies and spotlight the top innovators behind them.  

For this report, we've analyzed over 13.470+ relevant companies within the clean tech sector.  

Clean technologies (Cleantech) refer to products, services, or processes that harness renewable materials and energy sources. Their aim is to weaken or even stop the effect of climate change, while improving resource efficiency. Delving deeper into the concept, this is done by reducing pollution and waste, to promote sustainability and therefore a greener future. 

With this in mind, let’s dive into forecasted developments for Clean Technologies. 

Globally, the investment toward carbon free energy is on a steep upward trajectory. In 2023, this investment almost doubled to around $1.77 trillion, compared to $934 billion three years prior in 2020. Alongside this surge in investment, there has been significant growth in tech venture capital funding in climate tech, which reached $70.1 billion in 2022. Indicating a rising demand for clean technologies worldwide, particularly in the Western Hemisphere.

According to the NRDC, seven out of ten Americans support prioritizing alternative energy sources over expanding fossil fuels. This widespread support underscores a societal shift towards cleaner energy solutions. As businesses adapt to this changing landscape, there are profound implications for the economy and people's daily lives. Embracing clean energy technologies not only addresses climate emergencies but also presents significant economic opportunities for businesses.

Roberto Bocca, Head of the World Economic Forum’s Centre for Energy and Materials, emphasizes the urgency of accelerating the clean energy transition. However, he notes that current investment levels are insufficient compared to the scale and pace of change needed. Unlocking financing for clean energy initiatives presents not only a crucial first step toward a secure and equitable energy system but also a clear opportunity for businesses. This shift is particularly relevant as emerging economies, representing a substantial portion of the global population, increasingly prioritize clean energy solutions.

Overall, accelerating the clean energy transition signifies a pathway towards affordable and sustainable energy solutions. Businesses can leverage this shift to not only meet sustainability objectives but also to provide cost-effective clean energy options, particularly beneficial for developing markets where affordability is crucial.

Since the impact of economic growth and it fueling innovation in the industry is now established, what exactly are those innovations? This paragraph is supposed to go beyond typical buzzwords like Sustainability and Renewable Energy. Instead, we will try to introduce you to other relevant industry-driven topics, that are gaining traffic, but are not too prevalent in the public eye. All while giving credit to companies, who are the top innovators in their field.   

So, let's take a closer look at very promising technological trends.   

Solar Energy, often praised as one of the most abundant and sustainable sources of power, derives from the sun's radiation. This renewable energy form has gained increasing attention as societies worldwide seek cleaner alternatives to traditional fossil fuels. Using this technology involves capturing sunlight and converting it into usable electricity. Offering a promising avenue for decreasing climate change and reducing dependency on non-renewable energy sources. 

But how exactly is Solar Energy generated? When sunlight strikes a solar panel, photovoltaic (PV) cells within the panel absorb the energy. This energy triggers the movement of electrical charges within the cells, generating an electric current. Labelled as the photovoltaic effect, this enables solar panels to convert sunlight directly into electricity. But in order to function, solar panels require proper installation in areas with enough sunlight exposure and access to necessary equipment such as inverters and batteries for storing excess energy.

Bioenergy serves as a renewable alternative to fossil fuels, which derives from organic materials such as plants, crop residues, wood, and animal waste. Its utilization contributes to efforts in reducing greenhouse gas emissions and combating climate change. Average installation cost worldwide was around $2.16 per kilowatt in 2022, making it competitive within the renewable energy sector. Employed across various sectors, bioenergy plays a crucial role in electricity generation, heating, and transportation fuel production.  

An example of its application includes the use of biomass in biomass power plants to generate heat and electricity, providing sustainable energy solutions while minimizing environmental impact. This solution not only reduces reliance on non-renewable resources but also addresses waste management while addressing the challenges of climate change. 

Power Line Communication (PLC) revolutionizes data transmission by utilizing existing electrical wiring for communication purposes. By adding a modulated carrier signal to the wiring system, PLC enables the transmission of data alongside electrical power. Various frequency bands are used depending on the particular application, allowing communication over power lines without requiring extra wiring infrastructure. 

Implementing this technology typically involves strategically placing power line adapters within the electrical network, requiring minimal additional infrastructure. These adapters serve as interfaces between electronic devices and the power lines, facilitating data transmission. One adapter is typically situated near the router to establish a connection to the internet, while another is placed nearby the target device to receive the transmitted data. This straightforward setup leverages existing infrastructure, making PLC an attractive option for extending network connectivity throughout buildings or homes without the need for extensive cabling. 

Pyrolysis is a chemical degradation process that occurs at high temperatures, typically above the boiling point of water, without the addition of other reagents such as oxygen or water. This process leads to the decomposition of organic materials into solids, liquids, and gases. Unlike combustion or hydrolysis, pyrolysis is conducted in an inert atmosphere, producing products like char, light and heavy oils and non-condensable gases. 

Pyrolysis holds significant importance across a variety of applications, where it serves as a fundamental process. For instance, it is commonly used in grilling, frying, toasting, and roasting, where organic materials are subjected to high temperatures in the absence of oxygen. Another notable example is the extraction of tar from wood by subjecting it to high temperatures in tar kilns. This process aids in waste management by converting organic waste into valuable resources, contributing to environmental sustainability and reducing reliance on non-renewable energy sources. 

Fiberglas, prized for its lightweight, durability, and flexibility, is widely used across industries due to its versatility. It finds application in diverse sectors, from bathtubs and boats to aircraft and roofing. Beyond its affordability, fiberglass offers exceptional qualities like corrosion resistance and structural strength. Inherent thermal and acoustic insulation properties enhance its energy efficiency and soundproofing in buildings. Therefor, fiberglass remains a reliable and economical choice for manufacturers and builders seeking adaptable materials for various purposes.

Hydrogen, a colorless, odorless, and highly flammable gas, boasts versatility across various applications, from industrial processes to clean energy solutions. When used as fuel, it emits only water in fuel cells. Its production involves utilizing natural gas, biomass, or renewable sources such as solar and wind energy.

In practical terms, hydrogen participates in an electrochemical reaction with oxygen from the air, resulting in the production of electricity and water as the sole byproduct. But versatile applications extend beyond fuel usage, encompassing various industries such as fertilizer production through ammonia synthesis, oil hydrogenation, and the manufacturing of diverse organic compounds. Recognizing the multifaceted nature of this element is crucial for realizing its potential in addressing both energy and industrial challenges, thereby promoting environmental sustainability. 

In conclusion, the rapid evolution of Cleantech underscores the central role technology plays in addressing environmental challenges and fostering sustainable development. By embracing these trends and innovations, businesses and individuals alike can contribute to a greener, more resilient future for generations to come. But cleantech is not the only field evolving. Our B2B search engine unveils you suppliers for the exact technology you are looking for – globally and inter-industrial.

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