The new industrial revolution has begun. Indeed, none other than the heirs to the Rockefeller fortune recently announced that they would be divesting from oil and investing into clean renewable energy.
Easier said than done.
Meanwhile, the market is abuzz with countless research institutions, energy concerns, start-ups and automotive manufacturers claiming they have found the way – and especially the means – to power into the future. Sustainably. While we still do not know the precise means that will be used on a large scale, it is already clear that there is no turning back.
More than ever before, the way forward is through international cooperation: German systems designers are working hand-in-hand with Chinese manufacturers to sell systems in North Africa to provide energy to Spain…and there is no end in sight. From mobile phones to cargo ships, clean energy will soon be assuming a greater role, with several countries already predicting that over 50% of their electricity production will be produced by RE by 2050.
The ubiquity of energy is such that RE inevitably overflows onto other fields in a big way. For example, the cost of solar and wind projects has now dropped to the point that several water desalination projects are being built in the world’s driest regions. As for mobility, everything from skateboards to locomotives can be powered by hydrogen produced from renewables.
What’s more, there is absolutely no consensus as to what type of system or combination of systems will emerge as the dominant technology. Offshore wind farms? Industrial scale photovoltaic or private rooftop installations? Batteries or fuel cells? EVs or FCVs? A combination of them? What about regulations and legislation? For the moment, the possibility of any comprehensive international agreement is still light-years away.
Thus, it’s anybody’s guess. What we do know, however, is that the race is on. There may be in fact many winners at the end of the day. For, in this fast-paced, quickly evolving environment, the rules are yet to be made, and no one can truly claim to be an expert in a field that will certainly have changed entirely by next week. Nevertheless, Magna Carta’s translators have watched the sector grow over the past two decades with great interest – and involvement. Naturally, we are quite sensitive to the major issues and keep constant watch on new developments.
MC’s linguists have been involved in numerous RE projects:
- R&D studies by public corporations seeking to integrate REs into the local grid
- IPOs for RE startups
- MOUs and contracts between research institutes and the private sector, technology transfer
- Grid management software
- Calls for tender
- Wind energy
- Tidal power, marine current technologies
- Fuel cells and their applications
- Desalination projects
- Electric mobility for OEMs
- Hydrogen economy
- Electricity storage
Nearly all branches and activities of law are involved in taking renewable energy from the R&D stage to everyday use.
- Agreements between research institutions and the private sector
- Supplier contracts
- Regulatory environment
- International cooperation
Indeed, Renewable Energy is heralding the beginning of a new industrial era for humankind. While we do not know which way the wind will blow tomorrow, there are clearly no boundaries to the challenges and opportunities that will lead us to a cleaner, more economical, more sustainable energy future.