A recent publication in Bloomberg shows that the renewable market continues to grow at a staggering rate. This growth is adding to pressure on fossil fuel prices and could very well be ushering in a new era for Clean Energy. Denmark was recently cited as having obtained 50% of their energy through Wind Power and as a company based in Québec, Canada, Nimonik is proud to say that Quebec is 100% clean energy – mostly hydro and a little bit of wind. The growth in renewable energy is all the more remarkable considering the cost of oil, which continues to stay low due to geopolitical events such as the removal of sanctions on Iran.
With backers as large as China, and as humble as small-town investor, Bill Gates, the clean energy industry shows no signs of slowing down (Even the Eiffel Tower has gone green). Renewable energy has outpaced traditional energy, and is set to make significant gains on its progress already as US Lawmakers have agreed to extend tax credits for the solar industry for another five years.
The growth of renewables due to increasingly affordable cost, might encourage governments and municipalities to seek alternative sources of energy, such as solar, wind, geothermal and hydro/tidal power. This may in turn lead to further drops in demand for fossil fuel based energy. Analysts are predicting a huge boost to the global GDP by $1.3 trillion dollars if market shares of renewable energy double. Germany has even gone so far as to say that renewable energy has won the technology race.
As the industry matures, rules, regulations and quality control processes are being put in place. Regulatory requirements will likely grow as as new materials and technologies emerge to help harness, capture, and grow this budding industry. Nimonik is working with a number of renewable energy organizations to provide them with legislative updates and tools to help audit their operations and ensure safety, security, quality, and environmental compliance.
If your organization is looking for tools to help increase compliance efficiency, start with a 20-day trial with Nimonik and see our plain language updates and powerful tools in real time, or contact us at email@example.com and see how we can simplify compliance for you.