Why 2023 Will be the Year of Green Energy
Analyzing recent advancements in wind, solar and hydrogen energy that are expected to be utilized more in 2023.
Photo Source: Chariot Energy
Over the last month, artificial intelligence has overwhelmingly taken over the media in all sectors. For Don’t Count Us Out Yet, we’ve been covering this area, especially ChatGPT, more than our other five areas combined.
Based on the technological advancements and policy changes made in 2022, we think that sustainability and green energy are ready to move ahead, maybe even faster than artificial intelligence. Consider the following advances that are helping prioritize green energy in 2023, not only for climate change reasons.
First, there has been a change in thinking about the current technologies we have in green energy. In the book No Miracles Needed, by Professor Mark Jacobson of Stanford University, Jacobson discusses how today’s technology can save our climate and clean our air. He explains that existing technologies can harness, store and transmit energy from wind, water and solar sources to ensure reliable electricity, heat supplies and energy security.
Jacobson also states the obvious, which is besides combating climate change and CO2 emissions, green energy truly is the technology of the future as it costs less now and will continue to decline. Therefore, in order to stay at the head of the developing world, the United States will have to make the change as quickly as possible. Otherwise, it will be at a competitive disadvantage to nations that do. If Jacobson is right, then all we have to do is put the petal to the metal to see economic growth at a much higher level due to cheaper energy costs.
Wind energy is now at the point where existing technologies can produce energy at half the cost of a natural gas power plant, and it is going to get cheaper. Don’t think about this as a political progressive versus conservative issue. Texas and the Gulf of Mexico is where most of the wind power is being invested in the United States.
Even if green energy is produced at the cheapest prices, there is still a problem with storage and batteries. However, battery tech breakthroughs in the past year, as well as advancements in solar, have made it truly go to next phase of energy. It looks like you will soon be able to charge your car in 10 minutes or less!
Let’s not forget about hydrogen power, which may surge past all the green energy options, such as solar and wind, very soon. With the new rebates in the legislation passed by congress last year, hydrogen is now competitive with fossil fuels. We discussed advancements in hydrogen power in December, which is worth a read for a more in-depth analysis.
Finally, here is a bonus item as you start to participate in the new green energy model. Consumers, especially in Texas for freezing temperatures, Florida for hurricanes and California for extreme heat, are worried about electricity getting shut off or being overpriced. According to the Washington Post, electric vehicles can now power your home for three days.
Of course there will be rocky transitions as we find more efficient ways to transmit and store energy and stop burning fossil fuels. Existing fossil fuel companies will try their best to slow it down, but doesn’t it seem obvious … green energy is going to be cheaper, better for the world and come up with all kinds of ways to be used. 2023 will be the year most of us transition into green energy.
Best,
Craig for the Don’t Count Us Out Yet Team