I 2023, green technology seems to be the new black. But did you know that sustainable innovation has roots that go far back in history?
Take geothermal heating, for example, a trend in energy-efficient homes and buildings. The use of heat energy from the Earth's interior dates back to Paleolithic times when people bathed in hot springs and constructed homes from lava. Wind energy is not a modern invention either; as early as 5000 BC, our ancestors utilized wind power to propel boats along the Nile. Solar energy? It has been harnessed since the 8th century BC when people used magnifying glasses to ignite fires. And battery-powered vehicles? Not so new; 90% of New York's taxis in the 1800s were electric.
So, sustainable solutions have been a part of human endeavors for a long time, but today's innovative responses to environmental issues are more popular and necessary than ever.
Green technology, or environmental technology, is a collective term that describes the use of technology and science to reduce human impacts on the natural environment. In short, green technology encompasses all technologies designed to minimize the negative impact of human activity on the environment, including energy, atmospheric science, agriculture, materials science, and hydrology. Many green technologies aim to reduce carbon dioxide and other greenhouse gas emissions to prevent climate change. Solar energy is one of the most successful green technologies and is now cheaper to implement than fossil fuels in many countries. Investors can support green technology by buying stocks, investing in funds, or purchasing bonds that promote environmentally friendly technology. By doing so, they can contribute to promoting sustainable technological solutions and reducing our impact on the environment.
Green Technology: Using science and technology to conserve natural resources and mitigate negative environmental impact.
Clean Technology: Solutions that enhance production performance and efficiency while reducing environmental impact.
Climate Technology: Specifically focuses on mitigating the impact of human-induced climate change.
Low-carbon construction
Smart, sustainable buildings are emerging everywhere, and for good reason. Traditional buildings and construction account for 38% of greenhouse gas emissions worldwide. Low-carbon buildings are designed to emit little or no carbon dioxide over their lifespan. They require minimal heating and cooling, produce very little waste and pollution, and are made from eco-friendly materials such as bamboo and hemp. They typically generate their own energy, often through rooftop solar panels. With the demand for construction higher than ever, low-carbon buildings are crucial for a green future.
Carbon Capture and Storage (CCS)
Carbon offsetting is a necessary step towards reversing global warming, but alone, it cannot keep the global temperature increase to less than 1.5°C. For that, we need to physically remove existing carbon dioxide from the atmosphere. Carbon capture and storage technology extract carbon dioxide from the atmosphere and use it to produce synthetic fuels. Currently, it is expensive and relatively small-scale, but a study from Stanford University predicts that the costs of this technology could decrease by up to six times, making it much more scalable.
Renewable Energy Storage
In the transition to renewable energy sources, a key issue is how to make clean energy consistently available, even when the sun has been hidden behind clouds for days or wind turbines haven't been turning for weeks. To achieve this, we need to be able to store large amounts of energy over extended periods at a low cost. Innovative companies worldwide, including Aquion Energy, Malta (Google X), and Highview Power, are developing unique long-term storage solutions for the power generated by renewable energy sources. Fossil fuels are out, renewable energy sources are in, and the demand for storage technology will follow suit.
Hydrogen
You are already familiar with battery-powered electric vehicles, but there is another type of electric vehicle, and it's called a fuel cell electric vehicle. These cars are not powered by batteries — they are powered by hydrogen. This makes them significantly more efficient than combustion-powered vehicles, and they also produce no harmful emissions. Some predict that by 2050, hydrogen might potentially power over 400 million cars, up to 20 million buses, and more than 20% of passenger ships. Hydrogen fuel is still expensive, but hydrogen-powered vehicles are already being purchased in many places worldwide and could be crucial in reducing transportation emissions from fossil fuels.
Circular waste management
Upcycling, transforming waste into new, useful materials or products, has never been more popular. Innovative companies and organizations around the world are finding ways to repurpose existing waste into everything from fuel and fertilizer to clothing and bicycles.
Source: Greenly & Investopedia