This week, a news article published in ENERGYWIRE has got us thinking about the significant shift we’re seeing in energy production and consumption, what this means for the future of power, and the role that carbon nanotubes (CNTs) might play. 

Recent Changes in Energy Production and Consumption Trends

The article outlined considerable changes in the US power sector this year. The hotter-than-usual summer experienced by parts of the US has led to increased electricity demand resulting in a predicted rise in electricity generation of 3% this year compared to last. Despite this surge in electricity consumption, oil prices are at a 3-year low and are expected to decline by almost 6% from 2023 to 2024. 

So, how is this possible? Well, we are relying more and more on renewable energy. Solar power is rising, making up 59% of new electricity capacity in the first half of this year, with US solar generation projected to increase by 37% in 2024. Coupled with the expected increase in wind energy production and a gradual decrease in the use of natural gas for electricity generation – expected to fall from 42% to 39% in 2025 – this marks a clear shift away from the use of natural gas. These changes reflect the rapid expansion of renewable energy projects and the shift towards cleaner energy sources, supported by advancements in battery storage systems. 

The Role of CNTs in Supporting the Shift to Sustainable Energy

While this is inspiring news for us at TrimTabs from a sustainability perspective, we are also excited about the role CNTs are set to play in this shift towards green energy. As more states, countries, and governments catch on to this, the use of grid-scale battery technology will naturally rise, and the demand for ever-more-powerful technology will be the logical next step. 

CNTs are light, strong, and conductive, making them ideal candidates for advanced battery technologies with the potential to make energy storage systems, like those used for renewable energy storage, more efficient. 

In addition to their role in battery storage, ongoing research is exploring the potential of CNTs to improve the efficiency of solar cells. CNTs’ inherently high capacity for heat absorption, conductivity, and mechanical stability could enable them to increase solar cells’ conductivity and light absorption. 

At TrimTabs, our mission is to create a greener world than the one we inherited, and battery storage of electricity is one way to achieve this. We can’t wait to see what’s next! 

Check out the full article here, and make sure to follow us on socials to be the first to hear about the next exciting news stories in the nanotube world.