Every year, people figure out how some innovations can bring great benefits to different industries. This helps these industries streamline their operations and find better ways to continue to grow in every way possible. This rapid technological advancement has also helped these industries meet their energy needs, making them more efficient and cost-effective. 

Renewable energy

In recent years, many companies have started using renewable energy to some extent to meet their power needs. This has come as a result of some things that happened. First, countries started realizing that they needed to subsidize companies that started to use renewable sources, which meant that it was profitable to go that route. Also, the companies that produce the products that collect energy are much more efficient and cost-effective. Also, there are companies like Acumentrics nowadays that are completely dedicated to bringing these energy sources to market and finding reliable power solutions to do so. Because of all this, it has become not only financially viable for some companies to start using different energy sources but even highly profitable. 

Better energy storage

Another great improvement is that we can store much more energy than we used to before. Lithium-ion batteries are used more and more in various industries for storing power. This has enabled some of their tools to work longer and harder, which is important for many industries. Also, these and other batteries are much safer to use; they can be charged more easily, which improves their efficiency. With the increase in storage capacity, companies can charge the batteries during downtime, or use renewable energy to save money on their energy bills, which can be huge for big companies. 

Decentralized power generation

Many companies nowadays utilize microgrids, a localized group of power sources independent from the traditional centralized grid. When these companies opt for this, they understand that these microgrids offer much more energy security and resilience because they can operate during outages, which means that the company keeps running no matter what. They can be used in rural areas, or anywhere where it is hard to connect to a centralized power source. 

AI and machine learning

The use of algorithms has benefited humans immensely. It has allowed us to develop everything we do to a new level overnight and every day we see more benefits from it. AI technology and machine learning are also prevalent in different industries when it comes to managing everything that is connected with energy consumption. These tools enable us to analyze and predict power demand, which makes us more efficient because it allows us to plan adequately and adapt before anything happens. ML technology tries to find the optimal way to run the whole industry, a way that will consume the least amount of energy. Also, it is great at detecting faults, which can sometimes stop the whole system from operating, which can cost the company a lot, but that is greatly mitigated with this technology.

The healthcare industry is much more secure

With the advent of some of the new technology that we have talked about here, a huge benefit is that all of this new technology can literally save lives in the health industry. Nowadays, most hospitals do not fear outages because they have the technology to keep them running for a long time. Also, for mobile hospitals, the improvement of batteries and other equipment that helps with distribution and storing power in this new age means that they can help people where there is no electricity and operate in really harsh conditions. 

Current challenges

There are some challenges that we face that should soon be behind us if everything goes to plan. Nowadays, there is a lack of skilled people who can fully utilize this new technology and what it can bring, which means that we haven’t gotten the most out of it. With the rapid improvements in the tech industry and the way that they adapt it to different industries and their needs, it is really hard to keep up. This is a good problem to have because it means that we are improving and always finding new ways to do so. The governments should invest more in programs that are innovating and bringing us breakthroughs but they also need to educate the people so that they can stay on top of all that is going on and so that we can utilize the technology properly.

It seems like we are in a new era of technology. Every day we can expect new things to happen which can change the landscape of any industry and help us be more efficient. Without a doubt, new technology has improved the way we think about how we get our power and how to optimize its use, and it seems like we are going in the right direction.