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Q2 Solar Pty Ltd is an Australian solar technology & renewable energy company specialising in solar projects for commercial/industrial application nationwide.
Article | February 11, 2020
A cogeneration, or Combined Heat and Power (CHP), plant uses a heat engine or power station to produce electric and thermal energy simultaneously from a single fuel source. A primary benefit of using a cogeneration system is that it can capture thermal energy for heating that is otherwise wasted in a conventional power plant. Utility companies today face the challenge of transitioning to the utilization of renewable energy for both electricity production and district heating systems.
In the second post in this series, which began by analyzing the opportunities in renewable energy, we'll see how—without code—you can use business rules as an architectural layer to help justify any solar lending project. In part one of this series, I outlined a few of the considerations for community and regional financial institutions (CRFIs) that are considering entering into solar and other renewable energy source lending markets. Next, I’m going to explore a few of the ways that lenders can help prospects to economically justify these projects with Progress Corticon, the digital decisioning software engineered to manage complex rules and calculations, integrate with a countless big data sources, and implement it all without writing a line of code.
Both renewable power projects and conventional energy operations have felt the constriction of global supply chains, which are currently being limited in a global effort to fight and contain the spread of the virus. Many manufacturers of wind turbines and their critical components are based in Asia, such as Goldwind in China, as well as producers of photovoltaic panels and batteries (particularly lithium). Market reticence about bringing in products from affected areas has seen significant constriction in the importation of these materials and parts - the price of batteries has dropped by 60%, owing to the industry’s concentration in Asia.
Artificial intelligence is now influencing in every industrial sector. How wonderful it can be to extend the benefits of this technology across industrial sectors that are facing crisis and imbalance of demand and supply all over the world! Energy is one such crucial sector that impacts all the other industries as they use power for their operations. This explains why, according to a recent BIS research report, the global AI market in the energy sector is expected to reach USD 7.79 billion by 2024 (Source). Moreover, research is being done in this sector to find out how the non-renewable sources of energy can be preserved, without creating a shortage in supply for human consumption. The use of renewable sources of energy seems to be the only savior. But, there are several challenges in utilizing renewable sources of energy too!
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