NEWS PROVIDED BY FinancialBuzz.com Apr 17, 2019, 08:00 ET, FinancialBuzz.com News Commentary, NEW YORK, April 17, 2019 /PRNewswire/ — Non-renewable energy sources such as coal, oil, and natural gas are damaging the environment; due to their constant use. They impact the environment negatively. So they are responsible for adverse effects. That’s air and water pollution, damage to public health, wildlife damage, and global warming emissions.
The growing concern over climate change and the environment prompted government regulators to explore renewable energy sources. Primarily, renewable energy sources; wind, solar, hydro, and geothermal. Those are becoming popular because they cause significantly less harm than non-renewable sources.
Generally, companies, in addition, develop renewable energy sources to harness power. Power from naturally occurring sources. Then store it within power solutions like battery banks. These solutions provide power to homes, businesses, and even towns or cities on a large scale. For instance, solar panels collect power from drawing energy from the sun and then store the energy. Thereby and allow for continuous use. Use regardless if the sun is overshadowed by a cloudy day.
Consumers are becoming more aware of the growing concerns over non-renewable energy resources. Thereby prompting them to switch to renewable alternatives. In addition, the increasing awareness of environmental safety and sustainability. These are also propelling the use of renewable energy sources. According to data compiled by Allied Market Research, the global renewable energy market was valued USD 1.46 Trillion in 2017 and is expected to reach USD 2.15 Trillion by 2025.
Additionally, the market will witness a CAGR of 4.9% throughout the forecast period from 2017 to 2025. Triad Pro Innovators, Inc. (OTC: TPII), General Electric Company (NYSE: GE), Enphase Energy, Inc. (NASDAQ: ENPH), SunPower Corporation (NASDAQ: SPWR), Sunworks, Inc. (NASDAQ: SUNW).
The hydro and ocean power segment accounted for 63% of the market share in 2017. Furthermore holding the largest share until 2025. However, the solar energy segment will witness the fastest CAGR. Because they are registering 13.4% during the same period. Largely, the solar energy segment is becoming popular because of ease to install. Especially in areas where water or wind isn’t always common.
On the other hand, the use of wind power is also popular because it is the cleanest and most sustainable way to generate electricity. Again that’s according to the Union of Concerned Scientists. Because wind power doesn’t emit toxic pollution or greenhouse emissions.
Now, regardless of the source of energy, countries are gradually adopting renewable energy resources for legislation. That’s because of the Paris Climate Agreement. The Paris Agreement is an agreement within the United Nations Framework Convention for Climate Change to deal with climate control. All beginning in 2020. The Agreement’s goal to keep global temperature below 2 degrees Celsius this century. As well as to pursue efforts to limit the temperature increase further by 1.5 degrees Celsius.
As a result, Countries must participate in the agreement. Thereby all working collectively to reverse the negative impacts caused by the use of non-renewable resources.
Triad Pro Innovators, Inc. (OTC: TPII) yesterday announced breaking news that, “Powered by the Triad Pro eCell & motor array, the SPREE (Solar Powered Renewable Electric Energy) golf car will redefine the economics of how golf carts operate. Paying monthly utility bills, to recharge batteries can be greatly reduced or eliminated as SPREE will continuously top off its charge by utilizing a solar panel embedded in the roof.
Global consumption of golf carts is anticipated to exceed 225,000 units in 2023, in a multi-billion dollar industry, valued at U.S. , of which 41% will be in the North American market. Triad Pro projects attaining approximately worldwide sales of traditional golf and people mover vehicles. All by the end of its third production year. This dynamic growth is due to the advantages of utilizing solar power.
With the Triad-Pro eCell installed, the SPREE golf car can run the distance of, at least, an entire round of golf. Thereby drawing its charge from the sun. So on cloudy days, it can be fully re-charged in less than 1 hour on a regular 110V outlet. Most golf carts today are powered by lead acid or lithium batteries, which normally take 5 – 8 hours to fully recharge. SPREE requires no monthly maintenance and can save commercial fleet owners thousands of dollars of electrical cost. Additionally, SPREE will be delivered with a 10 year warranty on the eCell. Plus a 1 year bumper to bumper warranty.
Because of lower maintenance and operating costs the solar powered golf cart segment of the global golf cart market is anticipated to grow at a faster rate than other electric and internal combustion models. In addition to the demand provided by golf courses, urbanization and industrialization in other countries is expected to drive the demand. All for local electric transportation to carry people and goods.
For additional information about Triad Pro Innovators visit the website at: triadproinc.com
General Electric Company (NYSE: GE) drives the world forward by tackling its biggest challenges. GE recently announced that it intends to intensify its focus on the growing renewable energy market by consolidating all of the company’s renewable and grid assets. Consolidating into a single, simplified Renewable Energy business. Global demand for renewable power generation and the associated grid integration continues to increase globally; the latest report from the International Energy Agency* showed that renewable capacity additions of 178 gigawatts (GW) accounted for more than two-thirds of global net electricity capacity growth in 2017. The proposed moves announced are part of a broader effort on the part of GE to position the company to meet the evolving needs of the power market, including the growth of renewable energy. These moves include:
1. Moving GE’s grid solutions and hybrid renewables (including solar and storage systems) technologies into the GE Renewable Energy Business.
2. Thereby complementing its existing onshore wind, offshore wind, LM Wind Power, and hydro offerings.
3. Complementing all offerings with digitally enabled services
4. Streamlining its Onshore Wind structure, eliminating its headquarters layer and elevating its current regional teams.
5. Americas, / , MENAT and APAC.
All to improve competitiveness, speed, customer focus, and local execution in the Onshore Wind business.