The past half a decade shows promise to the renewables industry. 2019, in particular, is one of the best years in the energy industry.
Renewable energy by state is at an all-time high, with prices of renewables at an all-time low. This makes fossil fuel look more expensive than ever.
If you’re in the energy sector, following the latest trends in renewable energy is crucial for your business. Even then, which ones are the best?
In this list, we give you the top 5 trends you need to watch in the energy industry. What is happening in alternative energies jobs? What are the best renewable energy stocks?
Here are some trends you should follow.
1. Wind and Solar Is On The Rise
Wind and solar are consistent and on the rise. Over the past 5 years, wind and solar grew more than the 10 years before that. By the end of 2018, the United States has more than 96,000 megawatts of wind power and 64,000 megawatts of solar energy.
This is a growing sector with the best renewable energy stocks. Companies that pave the way for such growth energy are great investments. Solar expectations show it will overtake wind power as the dominant alternative energy over the next 10 years.
Here’s where you can learn more about it.
2. Alternative Energies Jobs Are Growing
With the rise of energy production in the renewable energy sector, there is a rapid growth in alternative energies jobs as well. The sector is creating a marketplace for a new American workforce. This can help displace the oil industry in the near future.
From 2016 to 2017, the solar and wind sectors reported a growth of 24.5 percent and 16 percent. These jobs even exceed the number of gas and coal jobs in more than 30 states. This means renewable energy by state is growing as well.
3. Grid Parity and Lower Energy Costs Make It Well-Worth The Work
The rise in natural gas and renewables in the energy sector also means a better grid parity and lower energy costs. Grid parity happens when the grid is producing equal or less electricity with conventional methods. Solar and wind are not at the technology we want yet, but it will go down soon.
The tradition of large-scale energy production is starting to go away as well in favor of modular, consumer-level production.
4. Energy Storage Industry Is a Good Investment
Energy storage is becoming an inexpensive part of the energy industry. With innovations receiving support from the government and public, investing in energy storage solutions are something to take advantage of.
Magnetic storage, hydroelectric dams, and even consumer-level energy storage are propping up. They allow universal access to clean energy for everyone, so this sector has the potential for the best renewable energy stocks.
5. Companies Are Showing Renewable Energy Commitments
Businesses big and small, from Fortune 500 companies to Silicon Valley startups, are embracing renewables as an option. Many are creating renewable energy commitments for themselves to embrace not only emission targets but helping the sector grow.
With this in mind, we can all expect a switch to proper growth energy in renewables. The increase in these commitments means movement in less than a decade.
Why You Need To Follow Trends in The Energy Sector Now
When it comes to trends in the energy sector, investment in renewables now is a crucial step. The renewable energy industry is at its infancy. Investing now will pay dividends.
If you want to learn more trends in different industries, check out our other guides today. See how you can take advantage of it now.