10 Cleantech trends to watch for in 2023
In the past, cleantech was often seen as an altruistic endeavor with a questionable business case. That perception is rapidly changing as the economics of cleantech become increasingly compelling. With over $40B in venture funding in 2022, cleantech startups are poised to take off in the coming years. While there are still challenges to be overcome – the cleantech sector is attracting more and more attention from both the public and private spheres. It’s an exciting time to be involved in cleantech, and the future looks bright for those dedicated to finding cleaner, more sustainable ways to power our world. So read on and learn more about the exciting cleantech trends that are creating a future that’s cleaner and smarter for us all.
1. Renewable Energy
With the cost of renewable energy sources falling and the cost of fossil fuels rising, cleantech is becoming one of the most attractive investment opportunities in the world. By the end of 2023, nearly 33 percent of the world’s electricity is forecast to come from renewables. As more and more countries commit to decarbonizing their economies, the renewable energy sector is poised for explosive growth in the years to come. Solar and wind energy are becoming increasingly cost-competitive with traditional forms of power generation, making them a more attractive option for businesses and households. The falling costs of storage technologies are also making it easier for renewable energy to be used on the grid. In the coming years, we are likely to see more cleantech solutions being implemented in the renewable energy sector.
2. Green Buildings
Green buildings are designed to be more environmentally friendly and sustainable. They can use less energy and water and generate less waste. Green buildings are an increasingly popular cleantech trend, as more people are looking for ways to reduce their environmental impact. In the coming years, we can expect to see more green buildings being constructed. This trend is being driven by both the private and public sectors. In the private sector, companies are looking to green buildings as a way to reduce operating costs. The public sector is also investing in green buildings, as they offer social and environmental benefits.
3. Alternative Mobility
The traditional automotive industry is facing a number of challenges. As a result, the automotive industry is undergoing a period of transformation. This is creating opportunities for cleantech startups to develop new technologies and business models. One noticeable cleantech trend is alternative mobility. These include the rise of electric vehicles, the sharing economy, and autonomous vehicles.
Electric Vehicles
Electric vehicles are becoming increasingly popular, as they offer a number of benefits over traditional gasoline-powered vehicles. Electric vehicles are cheaper to operate and maintain, and they generate zero emissions. In addition, electric vehicles are becoming increasingly affordable, as the cost of batteries continues to decline. As a result, electric vehicles are expected to make up a significant portion of the vehicle market in the coming years.
Shared Mobility
The sharing economy is having a major impact on the automotive industry. One area that is being affected is shared mobility. This refers to the sharing of vehicles, such as cars, bikes, and scooters. Shared mobility is convenient, efficient, and environmentally friendly. As a result, it is expected to grow in popularity in the coming years.
Autonomous Vehicles
Autonomous vehicles are another area of opportunity for cleantech startups. Autonomous vehicles are expected to have a major impact on the automotive industry, as they have the potential to revolutionize transportation. In addition, autonomous vehicles offer a number of benefits over traditional vehicles, including improved safety and efficiency. As a result, we can expect to see more cleantech startups developing autonomous vehicle technologies in the coming years.
4. Carbon capture, use, and storage
Carbon capture, use, and storage (CCUS) is a cleantech technology that refers to the process of capturing carbon dioxide emissions from sources like power plants and industrial facilities, then transporting and storing it so that it doesn’t enter the atmosphere. CCUS has been identified as a critical technology for mitigating climate change, as it has the potential to reduce greenhouse gas emissions by up to 90 percent. Despite its potential, CCUS faces significant challenges, including high costs, technical feasibility, and public perception. In order to overcome these challenges, cleantech startups are working to develop CCUS solutions that are economically viable and technologically feasible. With continued investment and innovation, CCUS has the potential to be a cleantech trend that plays a major role in fighting climate change.
5. Green materials
More and more, builders and homeowners are looking for ways to use green materials in their construction projects. Green materials are those that have been sourced from sustainable sources and have a low environmental impact. This can include using cleantech materials, such as bamboo, that have a lower carbon footprint. Hemp-based flooring, for example, has a lower carbon footprint than traditional flooring. Green materials are not only better for the environment, but they can also be cheaper, more efficient, more durable, and easier to maintain than traditional materials. The cleantech alliance suggests this trend is expected to continue to grow in the coming years, as the construction industry looks for ways to reduce its environmental impact.
6. Water Conservation
In recent years, there has been a growing cleantech trend of startups focused on water conservation. This is in response to the increasing global demand for clean water, as well as the ever-growing problem of water pollution. These startups are developing new technologies to help consumers and businesses save water and reduce their water footprint. In addition, they are working to develop new ways to purify and recycle water, making it easier and more affordable for people to access clean water. As the world becomes more aware of the importance of water conservation, these startups are likely to continue to gain traction.
7. Circular Waste Management
Waste management is a critical issue that needs to be addressed in order to protect our environment. In the past, most waste management strategies have focused on landfill disposal. However, this method is no longer sustainable, as we are running out of space to build more landfills. In addition, landfills can release harmful greenhouse gases into the atmosphere. As a result, startups are developing to find new ways to manage our waste. One promising solution is circular waste management. This approach focuses on a circular economy — reducing, reusing, and recycling waste instead of simply disposing of it. By adopting a circular waste management strategy, we can reduce our impact on the environment and help to preserve our resources for future generations.
8. Energy consumption management
As the world’s population continues to grow, so does our demand for energy. This increase in energy consumption is putting a strain on our resources and contributing to climate change. In order to mitigate these effects, cleantech startups in energy consumption management are working on innovative solutions to help us better manage our energy consumption. One way to do this is through energy efficiency. Energy efficiency refers to using less energy to achieve the same results. For example, you can save energy by using energy-efficient appliances or insulating your home. Another way to reduce energy consumption is through demand management. Demand management is a strategy that involves managing our demand for energy so that we don’t exceed our supply. This can be done through things like energy conservation and load shedding.
Smart Meters
Smart meters are devices that measure electricity usage and communicate this information to the utility company. This allows for more accurate billing and can help people save money by reducing their energy consumption. Smart grids are electrical grids that use smart meters and other technologies to deliver electricity more efficiently. They can also help utilities provide power during times of peak demand, reducing the need for rolling blackouts.
9. Sustainable Automation
Sustainable automation is the practice of using renewable energy sources to power our machines and devices. This includes things like solar-powered robots and wind-powered factories. Automation can help us to reduce our reliance on fossil fuels and other damaging energy sources. In addition, sustainable automation can help to reduce our carbon footprint and conserve our resources. As the world becomes more automated, cleantech startups are developing data technologies for optimization and conservation. Automation is an important part of the cleantech industry, and it is only going to become more so in 2023.
10. Battery storage systems
As more and more people install solar panels in their homes, the need for home battery storage systems is on the rise. Home battery storage systems allow homeowners to store energy from solar panels so that they can use it later, even when the sun isn’t shining. This is a great way for homeowners to reduce their reliance on the grid and save money on their energy bills. In addition, home battery storage systems can help to reduce your carbon footprint as they allow homeowners to use renewable energy even when the sun isn’t shining. Startups in this industry are working on making home battery storage systems more affordable and accessible for homeowners. With the continued development of home battery storage systems, we can expect to see an increase in their popularity in the years to come.
Launch your own Cleantech Startup
These are all exciting trends that point to a bright future for cleantech startups. Now is a great time to be involved in cleantech, and with the right mentorship, your startup has the potential to be successful like our alumnus Horizon Aircraft.
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