Advancements in smart energy systems mirror recent developments in renewable energy worldwide

by Milos Bezanov

Of the startups participating in the Idea Challenge, eight teams from six countries were selected out of 32 to pitch in front of a select jury, according to eitdigital news.
The three finalists shared €80,000 of investment between them, “our next steps include employing developers to join our highly motivated team and building up an international network of partners and resellers” said Luke Bauer, Operations and Projects at has.to.be, the winning startup.
The success of these startups comes amid a booming renewable energy sector, with 8.1 million people employed in the industry worldwide (excluding hydropower) and 3.5million of them in China, according to the Guardian.
Alongside manpower, a record breaking 150 gigawatts of power came online in 2015, with 44% of EU electrical capacity coming from renewables.
Jamaica, Honduras, Mauritania and Uruguay are among the highest investors in renewable energy.

Growth or Spending?

Information from a renewable energy global status report indicates that over twice as much was spent on renewables as on coal and gas fired power generation in 2015.
Investment in clean energy increased to $286 billion, with the UK increasing investment by 25%.
Challenges of outdated infrastructure and the like for renewable energy still loom, with dependence on “infrastructure systems geared towards fossil fuels..and storage limitations”.
However, Peeks, which placed second in the Idea Challenge competition, is one of many startups offering solutions, “..[we promise] at 10-40% energy cost saving by switching industrial processes such as cooling houses, ice skating rinks or oil terminals automatically and intelligently”.
While developing countries, especially in Africa and Latin America, lead the pack with ambitious investment targets, pressure to change renewable energy infrastructure “to decenetralised, community based generation…[and the like]” continues to mount.