A

Mini Project
ON
EMERGING TECHNOLOGY IN RENEWABLE
ENERGY
(Submitted in partial fulfillment of the requirements for MBA)

Harsh Yadav Under the guidance of

Rattan Singh Ms. Oshin Dixit
Batch of 2022-24

LLOYD INSTITUTE OF MANAGEMENT & TECHNOLOGY

PLOT NO 11, KNOWLEDGE PARK-2, GREATER NOIDA-201306 (UP)

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 DECLARATION

The project work entitled & Internship Report “EMERGRING TECHNOLOGY

IN RENEWABLE ENERGY” is submitted to School of Business Studies, LLOYD
BUSINESS SCHOOL, Greater Noida is an original work done by me under to
supervision and guidance of MRS OSHIN DIXIT. This internship report has been
done in the partial fulfilment of the requirements for the MBA Degree. This report
has not been previously submitted in any form to any
examination/institute/university or any. The information which I included here is
true and in original as per my best knowledge and research, with taking possible
references if any.

Date: …………

Student Signature: - …….

Faculty Signature: -…….

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 ACKNOWLEDGEMENT

The success and final outcome of this project required a lot of guidance and
assistance from many people and I am extremely fortunate to have got this all
along the completion of my project work. I am using this opportunity to express
my gratitude to Ms. OSHIN DIXIT my mentor guide who supported me
throughout the course of this project. I am thankful for her aspiring guidance,
invaluably constructive criticism and friendly advice during the project work. I am
sincerely grateful to her for sharing the truthful and illuminating views on a
number of issues related to the project. I respect and thank my Mentor Ms. OSHIN
DIXIT for giving me an opportunity to do the project work in EMERGING
TECHNOLOGY IN RENEWABLE ENERGY and providing me all the support
and guidance which made me complete the project on time.

Signature: -

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 TABLE OF CONTENT

CONTENT PAGE NO

INTRODUCTION 5

SCOPE OF INNOVATION 6-8

FEASIBILITY 9-10

DESCRIPTION 11-13

DEATILED INFORMATION 14-22

CONCLUSION 23-26

REFERENCES 27

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 INTRODUCTION

Energy sources that are naturally derived from the environment and from sources
that can be renewed naturally are referred to as renewable energy sources. These
include biomass, geothermal energy, hydropower, solar energy, and wind power.
Alternative energy, which refers to energy sources other than the usual ones like
gasoline and is thought to be more environmentally friendly or less damaging, should
not be confused with renewable energy.
Sources that can be regenerated in a reasonably short amount of time produce
renewable energy. Renewable energy sources include solar, wind, water, biomass,
and geothermal energy. While related to renewable energy, green energy is a subset
of sources that have the most positive effects
on the resources.

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 SCOPE OF INNOVATION

The primary objective for deploying renewable energy in India is to advance

economic development, improve energy security, improve access to energy, and
mitigate climate change. Sustainable development is possible by use of sustainable
energy and by ensuring access to affordable, reliable, sustainable, and modern energy
for citizens. Strong government support and the increasingly opportune economic
situation have pushed India to be one of the top leaders in the world’s most attractive
renewable energy markets. The government has designed policies, programs, and a
liberal environment to attract foreign investments to ramp up the country in the
renewable energy market at a rapid rate. It is anticipated that the renewable energy
sector can create a large number of domestic jobs over the following years. This
paper aims to present significant achievements, prospects, projections, generation of
electricity, as well as challenges and investment and employment opportunities due
to the development of renewable energy in India. In this review, we have identified
the various obstacles faced by the renewable sector. The recommendations based on
the review outcomes will provide useful information for policymakers, innovators,
project developers, investors, industries, associated stakeholders and departments,
researchers, and scientists.

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An energy source is a necessary element of socio-economic development. The
increasing economic growth of developing nations in the last decades has caused an
accelerated increase in energy consumption. This trend is anticipated to grow. A
prediction of future power consumption is essential for the investigation of adequate
environmental and economic policies . Likewise, an outlook to future power
consumption helps to determine future investments in renewable energy. Energy
supply and security have not only increased the essential issues for the development
of human society but also for their global political and economic patterns . Hence,
international comparisons are helpful to identify past, present, and future power
consumption.

Table 1 shows the primary energy consumption of the world, based on the BP
Energy Outlook 2018 reports. In 2016, India’s overall energy consumption was 724
million tons of oil equivalent (Mtoe) and is expected to rise to 1921 Mtoe by 2040
with an average growth rate of 4.2% per annum. Energy consumption of various
major countries comprises commercially traded fuels and modern renewables used to
produce power. In 2016, India was the fourth largest energy consumer in the world
after China, the USA, and the Organization for economic co-operation and
development (OECD) in Europe

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The projected estimation of global energy consumption demonstrates that energy
consumption in India is continuously increasing and retains its position even in
2035/2040. The increase in India’s energy consumption will push the country’s share
of global energy demand to 11% by 2040 from 5% in 2016. Emerging economies
such as China, India, or Brazil have experienced a process of rapid industrialization,
have increased their share in the global economy, and are exporting enormous
volumes of manufactured products to developed countries. This shift of economic
activities among nations has also had consequences concerning the country’s energy
use.

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 FEASIBILITY

A Renewable Energy Feasibility Study is used to provide an analysis of the best

heating or microgeneration renewables for your particular needs.

When looking into the various options of small-scale renewable energy systems, the
complexity of what is available can be overwhelming. Is it better to use solar PV or
solar thermal? Am I allowed a wind turbine where I live? What kind of funding can I
get for this technology? Is my property suitable? All of these questions and more.

What does a Renewable Energy Feasibility Study take into account?

Your Needs

Not everyone is looking for the same thing with a Renewable Energy Feasibility
Study, so each study is different. Are you interested in making your property as low-
impact as possible regardless of cost, or are you hoping to invest in a renewable tech
that can provide some sort of payback over time? Perhaps you have a lot of land, or a
windy property, and are wondering if it’s possible to take advantage of this.
Everyone is different and each feasibility study is tailored to the specific
requirements of the client.

Your Property

Just as each brief is different, so is each property. The technologies that are most
suited to a rural farmstead with lots of land are unlikely to be the same things that
will suit an inner-city flat or industrial warehouse. Even if your neighbours have
solar panels, for example, you may find that the angle of your roof is not adequate
for them.

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Planning Permissions & Logistics

As renewables are becoming a more and more popular option for private properties,
the law is catching up with how and where they should be placed on/in a property.
It’s not just the legality either; some places just aren’t suited for certain technologies
– a ground source heat pump needs a huge amount of space, for example.

Costs & Funding

Just as planning permissions change and get updated, so do funding opportunities. In

fact, they change more often. Especially at the moment, with climate change and
energy at the forefront of every political agenda – funding schemes (especially
domestic ones) seem to be changing all the time, and it can be difficult to keep up. A
Renewable Energy Feasibility Study will help to ascertain exactly which current
funding options you might be able to take advantage of and with which technologies.
It also takes into account how much each tech costs and the likely payback time for
the investment.

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 DESCRIPTION

Electricity and heating run the world. We need it for everything from our transport

system, heating and powering our houses, to build infrastructure and for all

industries. As of now we rely mostly on fossil energy sources like oil, coal and gas and

are releasing CO² from the ground that has been trapped there for millions of year. If

we want to stop climate change we need to switch to renewable and sustainable

sources of energy as soon as possible. Luckily there are many smart people working

on increasing the amount of renewable energy production while at the same time

making sure our grids stay stable despite the volatile nature of renewables, just to

name one example.

Clean energy climate solutions

How to solve climate change with renewable energy

Electricity and heating run the world. We need it for everything from our transport
system, heating and powering our houses, building infrastructure, and all industries.
As of now, we rely primarily on fossil energy sources like oil, coal and gas. We are
releasing CO² from the ground that has been trapped there for millions of years. If
we want to stop climate change, we need to switch to renewable and sustainable
energy sources as soon as possible. Luckily many smart people are working on
increasing the amount of renewable energy production while at the same time
making sure our grids stay stable despite the volatile nature of renewables, to name
one example.

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How does our energy production and consumption affect our
environment?
Today energy sources are predominantly fossil. The negative impact of fossil energy
on our environment is twofold. On the one hand, the burning of fossil resources
releases enormous amounts of greenhouse gases, such as carbon dioxide, CO2, into
our environment. On the other hand, gaining fossil energy also releases vast amounts
of greenhouse gases each year. In the long run, fossil energy is not only exploiting
the soil and polluting our air, but fossil energy is also non-renewable, hence time-
limited.
In the past, easy, cheap and safe access to energy was so commonplace for most in
our society that we sometimes even forgot what was behind the light switch or the
gasoline we put in our cars. In the beginning, there was no environmental issue
arising from the emission of greenhouse gases. Due to the industrial revolution, we
have transformed our societies at an unseen speed by using fossil energy to power
our cars and industries. Energy consumption has been steadily increasing since then,
from 12 000TWh in 1900 to 170 000 in 2019. First, it was mostly coal and oil, but
we constantly looked for more efficient and recently cleaner energies. Unfortunately,
those transformations weren't priceless. As we were burning more and more fossil
energies, we started releasing enormous amounts of CO2 and other greenhouse gases
into our atmosphere. Today, 84% of the global energy consumed is still obtained
from fossil fuels.

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 USP(Unique Selling Price)

The primary objective for deploying renewable energy in India is to advance

economic development, improve energy security, improve access to energy, and
mitigate climate change. Sustainable development is possible by use of sustainable
energy and by ensuring access to affordable, reliable, sustainable, and modern energy
for citizens. Strong government support and the increasingly opportune economic
situation have pushed India to be one of the top leaders in the world’s most attractive
renewable energy markets. The government has designed policies, programs, and a
liberal environment to attract foreign investments to ramp up the country in the
renewable energy market at a rapid rate. It is anticipated that the renewable energy
sector can create a large number of domestic jobs over the following years. This
paper aims to present significant achievements, prospects, projections, generation of
electricity, as well as challenges and investment and employment opportunities due
to the development of renewable energy in India. In this review, we have identified
the various obstacles faced by the renewable sector. The recommendations based on
the review outcomes will provide useful information for policymakers, innovators,
project developers, investors, industries, associated stakeholders and departments,
researchers, and scientists.

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 MORE INFORMATION

The need for a rapid transition to clean energy is enabling new developments in the
renewable sector. Businesses and industries are moving towards renewable energy to
reduce emissions, lower energy costs, and improve eco-friendliness. The major
renewable energy trends include digitization, energy-efficient integrations, and
solutions that overcome the intermittency in renewable energy production. For these
reasons, the use of big data, artificial intelligence (AI), and the internet of energy
(IoE) are emerging as popular trends in addition to innovations in renewable energy
sources. Although renewable energies such as solar, wind, and hydroelectricity have
been around for a long time, recent innovations make these some of the most
trending technologies. Moreover, they dominate the industry due to their competitive
advantages. Relatively newer areas of research in the renewable sector include
energy from green hydrogen and water energy forms such as tidal, wave, and ocean
currents.

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Tree Map reveals the Impact of the Top 10 Renewable
Energy Trends
The Tree Map below illustrates the top 10 renewable energy trends that will impact
companies in 2022. Innovations in advanced photovoltaics (PV) focus on
technologies that provide higher energy efficiency. In addition, the use of big data
and AI empowers renewable energy while also enabling other applications such as
predictive maintenance and smart management. Distributed energy storage systems
(DESS) provide flexibility and stabilization to renewable energy generation. Grid
integration technologies also stabilize the grid by controlling transmission losses. As
a result, it leads to efficient utilization of off-grid energy sources such as biofuels,
wind, and hydro power located far away from demand centers. Indirectly, green
hydrogen stores energy obtained from other renewable sources and also facilitates
electrification. Bioenergy continues to remain a popular trend due to its decentralized
nature. To secure and automate renewables, energy startups and scaleups extensively
leverage blockchain and robotics, among other technologies.

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Top 10 Renewable Energy Trends in 2022

1. Advanced Photovoltaics

Solar companies are integrating PV systems with every aspect of our surroundings
while minimizing the need for additional land usage. As a result, integrated PV,
floatovoltaics, and agrivoltaics are logical shifts in trends. Additionally, startups are
developing thin-film cells to make solar panels flexible, cost-effective, lightweight,
and environment-friendly. To improve PV performance, emerging companies are
devising technologies to concentrate solar power using mirrors and lenses.
Innovations in PV materials, such as the use of perovskite, are increasing energy
conversion multifold. These innovations are further coupled with photovoltaic
designs that enable maximum efficiency and high productivity. Together, they
promote sustainability through recycling, minimum resource utilization, and the use
of alternate materials.

2. Artificial Intelligence and Big Data

The energy grid is one of the most complex infrastructures and requires quick
decision-making in real-time, which big data and AI algorithms enable for utilities.
Beyond grid analytics and management, AI’s applications in the renewables sector
include power consumption forecasting and predictive maintenance of renewable
energy sources. It further enables the internet of energy applications that predict grid
capacity levels and carry out time-based autonomous trading and pricing. With
innovations in cloud computing, virtual power plants (VPP) supplement the power

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generation from utilities. In addition, startups utilize data analytics and machine
learning for renewable energy model designing and performance analysis.

3. Distributed Energy Storage Systems

DESS localizes renewable energy generation and storage, overcoming irregularity in

production. Based on economic and other requirements, startups offer a range of
battery and batteryless solutions. For instance, flow batteries leverage low and
consistent energy, whereas solid-state batteries are lightweight and provide high
energy density. For applications that require large amounts of energy, in a short
period of time, capacitors and supercapacitors are also used. Due to concerns
regarding discharging, safety, and environmental pollution, startups are devising
batteryless storage alternatives such as pumped hydro and compressed air
technologies. On the other hand, surplus energy is converted to other forms of energy
such as heat or methane for storage and reconversion through Power-to-X (P2X)
technology.

4. Hydro Power

Hydro power is the energy derived from moving water. Unlike solar and wind, hydro
energy is predictable and, hence, more reliable. Besides, hydroelectric dams, as well
as ocean-based energy harnessed from tides, currents, and waves, offer high energy
density while reducing dependency on conventional sources. The innovations in
these renewable sources focus on energy converters and component improvements
for harvesting energy more efficiently. Within hydro power, small-scale
hydroelectric dams and tidal barrages enable decentralized energy generation. Ocean
thermal energy conversion (OETC) harnesses energy through the thermal gradient
created between the surface and deep water. Few startups are also converting the
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salinity gradient formed due to the osmotic pressure difference between seawater and
river into usable energy.

5. Wind Energy

Despite being one of the oldest energy resources, the rapidly evolving nature of the
wind energy sector makes it one of the major trends. Startups are devising offshore
and airborne wind turbines to reduce the demand for land-based wind energy.
Innovations in this field often integrate with other energy sources such as floating
wind turbines, solar, or tidal energy. To further improve efficiency, there are constant
advances in the aerodynamic designs of the blades. Startups also develop efficient
generators and turbines for high energy conversion. The sustainability of blade
material is one of the challenges the industry faces today. To tackle this, startups are
creating bladeless technologies and recyclable thermoplastic materials to
manufacture blades.

6. Bioenergy

Bioenergy constitutes a type of renewable energy derived from biomass sources.

Liquid biofuels with quality comparable to gasoline are directly blended for use in
vehicles. To achieve this quality, companies improve biofuel processes and
upgradation techniques. The majority of biofuel conversion processes like
hydrothermal liquefaction (HTL), pyrolysis, plasma technology, pulverization, and
gasification use thermal conversion for obtaining biofuels. Furthermore, upgradation
techniques like cryogenic, hydrate, in-situ, and membrane separation are used for
removing sulfur and nitrogen content. Similarly, the fermentation process
produces bioethanol which is easy to blend directly with gasoline. Fermentation also
has the ability to convert waste, food grains, and plants into bio-ethanol, thereby
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providing feedstock variability. On the other hand, energy-dense feedstocks result in
optimum fuel quality. For this reason, startups and big companies consider algal and
microalgal feedstocks for use in the aforementioned conversion processes.

7. Grid Integration

Grid integration technologies primarily include transmission, distribution, and

stabilization of renewable energy. Scaling up variable renewable energy generation
is often far from demand centers which result in transmission and distribution losses.
To overcome this, energy-efficient, grid electronic technologies such as Gallium
Nitride (GaN) and Silicon Carbide (SiC) semiconductors are leveraged. The
challenge of frequency and voltage fluctuation due to variable renewable energy
generation is solved through microcontroller-based solutions. Despite these
technologies, stabilization of the grid is a huge challenge due to intermittent energy
usage. Vehicle-to-grid (V2G) technology empowers stabilization of the grid during
peak hours while grid-to-vehicle (G2V) solutions leverage the vehicle as a storage
unit. As a result, both the energy and transportation industry benefits.

8. Green Hydrogen

Hydrogen gas has the highest energy density of all fuels and produces near-zero
greenhouse gas emissions (GHG). However, most hydrogen is derived from non-
renewable sources in the form of grey and brown hydrogen. In the past decade,
developments in renewable energy and fuel cells have pushed the shift to green
hydrogen. While cleaner, it also struggles with the problems of low energy
conversion efficiency of fuel cells and challenges in transportation. For these
reasons, the developments in green hydrogen focus on improving hydrogen storage,
transport, and distribution.

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9. Advanced Robotics

Production and process efficiency proves to be a major hurdle in harnessing

renewable energy. Robotics enables accuracy and optimum utilization of resources to
overcome this challenge. For example, automated solar panels orient themselves to
maximize energy conversion. Equipment automation also expedites the maintenance
processes while reducing the need for human work. Drone inspection and robotics-
based automatic operations and maintenance (O&M) handle dangerous repetitive
work, thereby improving safety and productivity. An example of this is the use of
drones based on phased array ultrasonic imaging to hastily detect internal or external
damages on large wind turbines. Drones further enable the creation of digital site
twins and 3D maps through imaging and elevation data calculation.

10. Blockchain

Energy startups utilize blockchain technology to advance trusted transactions in the

renewable energy sector. For instance, smart contracts advance peer-to-peer (P2P)
electricity trading for transactive energy. Grids are vulnerable to cyber threats and
blockchain is used to encrypt the data associated with grid operations and
monitoring. Through data encryption, blockchain facilitates digital transactions.
Renewable energy providers are also taking advantage of blockchain to track the
chain of custody of grid materials. Additionally, it allows regulators to easily access
data for regulatory compliance.

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Discover all Renewable Energy Technologies & Startups

To tackle climate change and meet environmental compliance, companies are turning
to clean and sustainable energy. The challenge lies in making renewable energy cost-
competitive with fossil fuels. While economies of scale solve the problem of cost,
technologies like automation, blockchain, and machine learning improve O&M
efficiency. Further, hardware innovations like advanced photovoltaics such as
nanofibers and mono-passive emitter real contact (PERC) based panels improve solar
conversion efficiency. Within the wind energy sector, mini-wind turbines and
buoyant airborne turbines are gaining popularity. Advances in hydro power are
facilitating the use of oscillating water columns and overstepping energy converters.
Moreover, research on platinum-free catalysts, such as tin carbon, is enabling
cheaper green hydrogen fuel cells. Efficient catalytic technologies are also
facilitating the production of higher-quality fuels from varied feedstocks.

The Renewable Energy Trends & Startups outlined in this report only scratch the
surface of trends that we identified during our in-depth research. Among others,
advances in hydrogen economy and data-driven solutions aided by AI, machine
learning, and advanced analytics along with improvements in renewable energy
utilization will transform the sector as we know it today. Identifying new
opportunities and emerging technologies to implement into your business early on
goes a long way in gaining a competitive advantage. Get in touch to easily and
exhaustively scout relevant technologies & startups that matter to you.

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 CONCLUSION
THE IMPORTANCE OF RENEWABLE ENERGY
Renewable energies are sources of clean, inexhaustible and increasingly competitive
energy. They differ from fossil fuels principally in their diversity, abundance and
potential for use anywhere on the planet, but above all in that they produce neither
greenhouse gases – which cause climate change – nor polluting emissions. Their
costs are also falling and at a sustainable rate, whereas the general cost trend for
fossil fuels is in the opposite direction in spite of their present volatility.
Growth in clean energies is unstoppable, as reflected in statistics produced annually
by the International Energy Agency (IEA): they represented nearly half of all new
electricity generation capacity installed in 2014, when they constituted the second
biggest source of electricity worldwide, behind coal.

According to the IEA, world electricity demand will have increased by 70% by 2040
- its share of final energy use rising from 18 to 24% during the same period – driven
mainly by the emerging economies of India, China, Africa, the Middle East and
South-East Asia.

CLEAN ENERGY TO FIGHT CLIMATE CHANGE

Clean energy development is vital for combating climate change and limiting its
most devastating effects. 2019 was the second warmest year on record. The Earth’s
temperature has risen by an average 0.85 °C since the end of the 19th Century, states
National Geographic in its special November 2015 issue on climate change.

Meanwhile, some 1.1 billion inhabitants (17% of the world population) do not have
access to electricity. Equally, 2.7 billion people (38% of the population) use
conventional biomass for cooking, heating and lighting in their homes - at serious
risk to their health.

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Renewable energies received important backing from the international community
through the Paris Accord signed at the World Climate Summit held in the French
capital in December 2015.
The agreement, which entered into force in 2016, establishes, for the first time in
history, a binding global objective. Nearly 200 signatory countries pledged to reduce
their emissions so that the average temperature of the planet at the end of the current
century remains “well below” 2 °C, the limit above which climate change will have
more catastrophic effects. The aim is to try to keep it to 1.5 °C.
The transition to an energy system based on renewable technologies will have very
positive economic consequences on the global economy and on development.
According to the International Renewable Energy Agency (IRENA), doubling the
renewable energy share in electricity generation to 57 % worldwide by 2030 will be
necessary for meeting the Paris Agreement targets. This requires raising annual
investments in renewable energy from the current USD 330 billion to
USD 750 billion, thereby boosting job creation and growth linked to the green
economy.

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TYPES OF RENEWABLE ENERGY

Renewable energies include:

 Wind energy: the energy obtained from the wind

 Solar energy: the energy obtained from the sun. The main technologies here
are solar photovoltaic (using the light from the sun) and solar thermal (using
the sun’s heat)
 Hydraulic or hydroelectric energy: energy obtained from rivers and other
freshwater currents
 Biomass and biogas: energy extracted from organic material
 Geothermal energy: heat energy from inside the Earth
 Tidal energy: energy obtained from the tides
 Wave energy: energy obtained from ocean waves
 Bioethanol: organic fuel suitable for vehicles and obtained from fermentation
of vegetation
 Biodiesel: organic fuel for vehicles, among other applications, obtained from
vegetable oils

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MAIN ADVANTAGES OF CLEAN ENERGIES

 Renewables do not emit greenhouse gases in energy generation

processes, making them the cleanest, most viable solution to prevent
environmental degradation.

 Compared to conventional energy sources such as coal, gas, oil and

nuclear - reserves of which are finite - clean energies are just as
available as the sun from which they originate and adapt to natural
cycles, hence their name “renewables”. This makes them an essential
element in a sustainable energy system that allows development
today without risking that of future generations

 The indigenous nature of clean sources gives local economies an

advantage and brings meaning to the term “energy independence”.
Dependence on fossil fuel imports results in subordination to the
economic and political short-term goals of the supplier country,
which can compromise the security of energy supply.

 Nowadays renewables, specifically wind and photovoltaic, are

cheaper than conventional energies in much of the world.
 The main renewable technologies – such as wind and solar
photovoltaic – are drastically reducing their costs, such that they are
the most economically efficient way to generate electricity in a
growing number of markets.

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 REFERENCES

https://www.sciencedirect.com/science/article/pii/S1878029612002186
https://www.acciona.com/renewable-energy/?_adin=02021864894
https://www.google.com/search?
q=renewable+energy+wikipedia&oq=RENEwable

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