What's going on in the energy market?
The energy market is upside down and changing faster than ever. From geopolitical tensions to the rise of renewable resources and smart technology. All these developments require a new approach from everyone who uses energy. What does that energy future look like and what does it mean for our daily lives?
Conscious consumption
The energy market is changing rapidly. With the switch to renewable sources (such as solar and wind), supply is becoming unpredictable. As a result, supply and demand are increasingly out of balance, making energy more expensive. This requires more conscious use of energy. The government is encouraging renewable projects and investing in expanding the power grid to prevent overloads. Renewable energy is becoming more attractive due to geopolitical tensions and high energy prices. All with clear goals in mind: further sustainability and independence from certain countries
Everything moves
The energy market is in flux and changing faster than ever. The supply and demand of energy used to be fairly predictable; now they fluctuate continuously. This has direct consequences for households and businesses. Those who are smart about their energy consumption can make significant savings. Those who don’t can expect increasingly higher costs. Active and conscious energy consumption is more important than ever.
Renewable energy
The energy transition – the transition from fossil fuels to renewable sources such as solar, wind and hydroelectric power – is a major driver of these changes. Fossil sources (such as coal, petroleum and natural gas) are becoming increasingly scarce and are even running out. They also have a major drawback: burning them releases CO₂, which contributes to global warming. This warming causes major problems for ecosystems. And that, in turn, affects the quality of life on our planet. This is why we are increasingly opting for renewable energy. In other words, sources that nature itself replenishes and that do not emit CO₂.
Ample investment
The climate agreement is clear and unambiguous: by 2050, greenhouse gas emissions must be reduced by 95 percent. That deadline requires rapid and frequent changes. That is why the government and various agencies are encouraging investments in renewable energy sources. Think of subsidies for solar panels, wind farms and infrastructure projects that make green energy more readily available. As a result, we are seeing more and more solar parks, offshore wind turbines and smart projects involving dual use of land, such as solar installations on carports and sound barriers.
New players
This rise of renewable energy creates new players and suppliers in the energy market. To properly distribute and make all this renewable energy available, infrastructure must also be improved. Because the infrastructure is not yet ready for the increasing use of renewable energy. At peak times, the network suffers from overloading. This can lead to outages and even blackouts. So there is an urgent need to expand and strengthen the power grid to support the energy transition.
Everything smarter
In addition, geopolitical tensions play a determining role. Dependence on foreign energy sources creates uncertainty and countries want to become less dependent on others for their energy supply. This puts even more pressure on the energy market and stimulates the search for different (renewable) energy sources. So we are in the middle of a crucial period for the energy market. Smart cities, streets and homes – where energy consumption and generation are smartly managed – will soon be the norm. With a focused approach from government, businesses and consumers, the energy transition can help solve energy market problems.
Read more about Energy Management System (EMS)
The energy market is in full transition, and it’s not happening without fits and starts. Demand for electricity is exploding and renewable sources such as solar and wind continue to depend on the weather. The result: uncertain prices, limitations for consumers and major challenges for our future sustainability. With an Energy Management System, you get the most out of your energy sources without losing comfort.