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If you want your company to be successful in the future, you will inevitably have to align production with climate and environmental protection. The solution: Green Tech.
Environmental technologies are intended to reduce greenhouse gasses, use resources responsibly and economically, and thus achieve climate targets by 2045.
Discover where GreenTech is being used and find out about the great opportunities it offers for creating new software solutions.
Green Tech: A Necessity or Trend?
Green Tech is defined as technologies and services that prevent environmental pollution from the outset, reduce it, or repair damage already occurring to the environment. GreenTech innovations therefore combine the environmental aspect with science, technology, and business.
Cleantech (another name for Green Tech innovations) is part of the neo-ecology megatrend because when converting to sustainable production, companies cannot avoid energy-efficient devices. To meet the requirements, more and more companies are investing in new technologies. After the Paris Climate Agreement in 2015 decided to reduce greenhouse gas emissions and limit global warming to 1.5°C if possible, companies will have to switch to environmental technology in the coming years.
Top Trends In Green Tech
Advancements in Renewable Energy
The proportion of renewable energy in the EU's total energy consumption was 9.6% in 2004, 16.7% in 2013, and 23.0% in 2022. (Eurostat)
The majority of the world's renewable electricity currently comes from hydropower. However, photovoltaics and wind energy are clearly ahead in terms of expansion, with more than 90 percent of the global capacity added. As early as 2025, more electricity could be generated from wind and solar energy than from hydropower.
The removal of legal and bureaucratic hurdles, increased investment in the expansion of electricity grids, will contribute to the sustainable future in the upcoming years.
Here are the examples of the renewable energy software solutions presented on the market:
Energy Storage Solutions
The global energy storage system market, valued at $256 billion in 2023, is expected to grow at a CAGR of around 9% from 2024 to 2031, reaching over $506.5 billion by 2031. (Statista)
Gravity, pressure or salt - there are many ways to temporarily store green electricity from the energy transition. Quite a few of them are more sustainable and technically easier to handle than pumped storage power plants or lithium-ion batteries, which are currently the most commonly used as temporary storage. Solid-state batteries and new chemistries like lithium-sulfur and sodium-ion promise higher energy density and faster charging times.
There are different types of software solutions that contribute to the maintenance of energy storage trend:
- Battery Management Systems (BMS)
- Energy Management Systems (EMS)
- Predictive analytics tools
Get inspired by our recent blog post about ESG compliance in real estate projects.
Smart Grid Technology
The global Internet of Things (IoT) in the energy market is projected to grow from $20.2 billion in 2020 to $35.2 billion by 2025, with a CAGR of 11.8%. (Statista)
Building automation helps owners reduce their operating costs and obtain green certificates. IoT systems open up new possibilities for efficient control and smart functions in buildings.
- Sensors for remote monitoring of building systems
- Cloud analysis platforms
- Predictive maintenance with AI solutions
Circular Economy
The global circular economy market is expected to grow at a CAGR of 18.8% from 2020 to 2027. (Business Insider)
Companies are increasingly adopting circular economy principles, focusing on resource efficiency, waste reduction, and the reuse and recycling of materials. Innovations in product design and manufacturing are extending the lifecycle of products, reducing environmental impact and promoting sustainability.
- Resource management software
- Supply chain transparency platforms
- Waste management optimization tools
Carbon Storage and Utilization
Since 1990, global CO₂ emissions from fossil fuels and industry have increased by over 60%. (Statista)
Carbon storage and utilization (CCU) refers to technologies that convert CO2 into products such as fuels, chemicals or building materials. CCU can play a role in achieving climate protection goals and decarbonizing the economy. This requires abundant low-carbon energy for absorption by CCU and a favorable legal and investment environment.
Here are the examples of the carbon storage software solutions presented on the market:
- Carbon Capture and Storage (CCS) Simulation Software
- Carbon offset market platforms
- Lifecycle assessment tools
Green Tech Best Solutions In 2024
Greentech innovation 2024 is set to transform the energy sector, making it more sustainable and efficient. New technologies in renewable energy, smart grids, and energy storage will play a key role in reducing carbon footprints. These advancements will improve how we produce and use energy, helping to protect the environment.
Which GreenTech innovations are transforming the market in 2024? Here’s Axon’s list:
Hydromesh
Hydromesh is a Swedish energy company focused on reducing emissions and building a hydrogen infrastructure by integrating hydrogen into smart grids.
Hydromesh offers a smart-grid solution that includes long-term energy storage as hydrogen, a combined heat and power (CHP) system, and advanced AI with machine learning. This system predicts the optimal use of locally generated renewable energy, enabling users to potentially become energy prosumers.
Learn more about Hydromesh software developed by the Axon team!
Planted
Planted is one of the leading providers of carbon accounting with a software solution for strategic CO₂ management combined with local environmental protection. The green tech company operates a data-driven SaaS platform that is TÜV-certified and records and automatically calculates your company's CO₂ emissions based on the GHG protocol.
Companies with GreenTech innovations that use Planted can map their entire sustainability strategy centrally on just one platform and manage it across teams. In addition to CO₂ management and reporting, Planted also supports communication without greenwashing by providing personal support from sustainability experts at every step, communication support and high-quality marketing material.
Nextron
Nextron was founded to make renewable energy accessible to everyone and encourage investments in distributed renewable energy assets. As an "energy-as-a-service" clean-tech platform, the company aims to simplify access to renewable energy with a seamless digital experience, enhancing value across Brazil’s entire renewable energy supply chain.
Their app provides comprehensive management features, including consumption tracking, cost savings, bill payments, and more. By partnering with existing energy companies, Nextron connects solar power plants to properties, offering clean and affordable energy solutions without the hassle of installing private solar panels.
ClimateLabs
The software provider sells an app for Android and iOS that helps users integrate holistic climate protection measures into their everyday lives. They can calculate their personal carbon footprint and offset the emissions by financing climate projects.
Faircado
The startup is developing an AI-powered browser extension for Firefox, Chrome and Edge that automatically finds the best second-hand alternatives to the products currently being searched for in online shops. Faircado currently supports over 1,600 websites, including all well-known major online retailers.
Arcadia
Creating Greentech is one thing, but getting people to use it is another challenge. This is why software and Internet of Things (IoT) Greentech companies are becoming more crucial. A prime example is Arcadia, a US-based company founded in 2014 with the belief that everyone should have access to clean energy.
Arcadia offers innovative green technologies, such as community solar power, enabling both individuals and businesses to subscribe to local solar farms and lower their energy bills. However, that's just part of their services. Founder Kiran Bhatraju highlights that a significant barrier to the widespread adoption of clean energy is the lack of accessible data. Arcadia tackles this issue with its software service, Arc, which organizes and simplifies vast amounts of data from spreadsheets and reports into a user-friendly interface. This software is also used by various companies for managing energy data and carbon accounting.
How to Choose a Green Tech Software Development Company
Selecting the right green tech software development company is crucial for the success of your project.
Here are key factors to consider:
- Expertise in Sustainable Technologies
- Look for a company with a proven track record in Green Tech innovations. They should have experience in developing software solutions that promote sustainability and efficiency.
- Reputation and Reliability
- Research the company’s reputation. Check client testimonials, reviews, and case studies to gauge their reliability and quality of service. A reputable company will have a history of delivering successful projects.
- Strong Portfolio
- Evaluate their portfolio to see if they have worked on projects similar to yours. A diverse and robust portfolio with GreenTech innovations and other projects indicates their capability to handle different types of green tech projects.
- Range of Services
- Ensure the company offers a comprehensive range of services, including consulting, development, integration, and support. A company that provides end-to-end solutions can better manage the entire project lifecycle.
- Support and Scalability
- Choose a company that offers ongoing support and can scale their solutions as your needs grow. This ensures long-term success and adaptability to future requirements.
- Cultural Fit
- Assess if the company’s values and work culture align with yours. A good cultural fit fosters better collaboration and communication throughout the project.
- Technical Proficiency and Innovation
- Look for a company that demonstrates high technical proficiency and innovation. They should be adept at leveraging the latest technologies and tools to deliver cutting-edge solutions.
- Cost-Effectiveness
While cost should not be the only deciding factor, it is essential to choose a company that offers a good balance of quality and affordability. Ensure their pricing structure fits within your budget for innovative green technologies without compromising on quality.
Conclusion
From breakthroughs in solar and wind energy technologies to the integration of AI and IoT for smarter energy management, innovative green technologies are set to transform our approach to sustainability. Emerging technologies in hydrogen fuel cells, battery storage, and carbon capture are also pushing the boundaries of what is possible in the fight against climate change.
As consumers, businesses, and governments increasingly prioritize sustainability, the GreenTech sector will continue to thrive and businesses contribute to a more sustainable future for all.
