In my previous article on the future of energy, I looked at the current state of the renewable energy market and examined where we are heading as consumers of fossil fuels.
However, this article focuses on how we are going to power our cars in the coming decades. In the next 10 years, the most widely used fuel in the US will switch from petroleum to electricity.
So, what does the future of energy look like? Will we all become Tesla owners? Will we all be driving electric cars? How can we use technology to make the transition as smooth as possible?
What are some of the trends in the renewable energy industry that will shape the future of energy?
Fossil Fuel Industry vs. Renewable Energy Industry
There are two types of energy companies in existence. Fossil fuel companies extract energy from oil, gas and coal deposits. Their goal is to get the most energy for the least amount of money.
Renewable energy companies, on the other hand, are focused on using alternative sources of energy. This includes wind, solar, geothermal and biofuel.
They focus on making a profit, while maximizing the number of units produced.
As more and more states pass laws requiring the use of renewable energy, companies are trying to meet this demand by ramping up production.
While both types of energy companies exist today, in the next 10 years the renewable energy industry will take over.
The US currently gets about 19% of its energy from renewable sources. By 2040, that number will increase to around 70%. This will put the US on par with countries like Germany and Japan.
Electric Cars Are Here
If you've been following the news lately, you know that the electric car is quickly becoming a trend. But is the electric car the future of transportation?
The answer is yes and no.
Let's start with the no part. As the name suggests, an electric car has no engine. This means that a car powered by an electric motor will be much quieter, faster and more efficient than a gasoline car.
The US is currently behind other developed countries when it comes to electric vehicles. However, as these cars become more mainstream, the US is sure to catch up.
The question is, will we all buy electric cars? Or will the majority of us continue to drive gasoline-powered vehicles?
Some people think that the best option for consumers is the hybrid vehicle. This is a car with a small gasoline engine coupled with a battery that allows for increased speed and efficiency.
The future of transportation is definitely hybrid cars, but if you want to maximize your driving experience, you should also consider buying a fully electric car.
If you're interested in purchasing an electric vehicle, the best place to go is Tesla. They have a wide variety of vehicles to choose from, and they are the first company to achieve the elusive "zero emissions" title.
Beyond that, they are the only manufacturer that is planning to release a mass-produced luxury SUV.
The future is Solar.