Power-X : Game Changer - Renewable Energy
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- Apr 23, 2021 12:30 am GMTApr 29, 2021 12:34 am GMT
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This item is part of the Special Issue - 2021-04 - Innovation in the Power Industry, click here for more
IEA predicts that renewable energy will be 30 percent of the world market share in the energy industry by 2024. The renewable energy market comprises solar and wind energy companies. Power to X is a new term that stands for the conversion of power into heat, hydrogen, and synthetic fuels. Power to X helps in increasing the synthetic fuel usage in steel, food, fertilizers, and chemical industries. This concept helps in bringing down energy storage issues and managing the problems in the supply and demand of renewable sources.
The energy industry is evolving with new ideas like Power to X. Many new enterprises are seeing potential offerings with Power to X. It helps in solving many issues related to the transformation of energy from fossil sources to green energy forms like wind and solar energy. Power to X helps in long-distance travel using planes and Ocean marine ships that use liquid fuels. Energy storage is easy with Power to X for a large amount of time. The average supply of power is achievable with this concept.