6 Sep · 4 min read
Despite cutting-edge innovation, building a net-zero world is not a one-day task. The growing demand for zero-carbon technologies, products, and services serves as an opportunity for more and more companies to enter into green business. In order to achieve net zero emission, significant effort must be put into the process. Businesses who will adopt these technologies at the very first stage will level up their game as compared to their competitors.
Green businesses that can innovate and communicate effectively across various business processes will be successful in taking the advantage of green opportunities. Choosing the right technology can simplify the process of achieving net zero and make it look more effective and seamless. Now, let’s explore various technologies that are helping companies achieve net zero in every possible way. Although these technologies are not widely adopted by green businesses due to the huge investment capital associated but they are on their pathway to transforming the global power industry.
Digital technologies such as Artificial Intelligence (AI), the Internet of Things (IoT), Cloud Computing, and Data Analytics hold a promising future to optimize current strategies to achieve maximum energy efficiency. The transformative potential of these smart technologies is going to be huge. According to a report by the Royal Society, digital technologies, from smart meters to supercomputers, Weather Modelling, AI, etc. are expected to reach net-zero level by around 2050. The smart solutions associated with these technologies will continue to achieve a net zero future. The digital industry is on pace to reduce its own emissions and has the potential to reduce world emissions by 15% by 2030 through the adoption of waste management strategies, enhanced value chain processes, and more advanced technology that can lead to early warnings for environmental hazards.
CCUS is a technology that can be used across energy systems to capture Carbon Dioxide (CO2) emissions from fossil power generation and industrial processes. This technology will play a keen role in helping companies with decarbonization and meeting the net-zero targets. According to reports prepared by Meti, the global market is expected to grow by USD 100-120 Billion to support the development of CCUS by 2050. The solutions driven by CCUS technology will tackle emissions from heavy industries and will be responsible for removing harmful CO2 from the atmosphere. Many companies all over the world are championing the fight to reduce carbon emissions from current sources and combat the carbon emissions present in our atmosphere. Some of the companies making use of CCUS Technology are Carbfix of Iceland, Global Thermostat of the United States, CO2 Solutions by SAIPEM based in Quebec, Canada, and so on. These are some of the leading carbon capture companies making their mark with effective CCUS solutions.
Another technology investment that will lead to net zero transition is the use of advanced batteries. We all are aware of the fact that renewable energy consumes zero carbon yet it is intermittent. This means energy is produced when the sun is shining and the wind is blowing or else the power is likely to dry up. Once the power is produced, it flows directly into the system and is distributed equally wherever it is required. This poses the risk of either too little or too much electricity. That is where advanced batteries prove to be a savior. They also optimize the frequency, voltage, and other additional services that are required to stabilize the system. Batteries are an amazing source of decarbonizing power These days, emerging battery technologies are highly affordable, easy to build and ensure scalability. Such batteries can be strategically placed allowing room for innovation of safer, carbon-free energy systems at progressively lower costs.
To conclude, the transition towards net zero will result in a significant increase in job opportunities. Over 14 million of new jobs are projected to be generated by 2030 as a result of new initiatives and investments by various companies in sustainable development. The multi-dollar market for sustainable technologies is yet to explore various industries and boost the economy through its evolution. Implementation of these technologies will help green businesses create success stories resulting in a global response to major environmental change.