3.12 Future Trends
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3.12.3 Asia
India and China will play a crucial role in transitioning towards a circular economy
for creating socioeconomic and environmental benefits. The renewable energy cost
will continue dropping, thus making them a competitive and viable alternative to
fossil fuels. With falling prices and increasing investments in the Middle East, the
renewable energy sector will experience more expansion in the coming decade. The
likely future trends will include the deployment of hybrids, mini-grids, building
integration, more use of artificial intelligence, and utility-scale battery storage. The
Middle East will particularly witness more investment in solar and wind power.
3.12.4 Australia
Clean energy will provide 35% of the total electricity needs, thus underlining the
pace at which solar power will transform the energy market (Ison 2019). There
will be a rise in precincts of the renewable industry whereby the heat-intensive
industries could be able to access renewable heat from renewable energy production,
bioenergy, and solar thermal production. They will also be the major locations
for renewable export industries of Australia. The continent’s renewable exports
will continue supporting countries like Indonesia, South Korea, and Japan to shift
towards 100% renewable energy (Ison 2019).
3.12.5 Europe
Europe will experience an increase in the number of electric vehicles and car-sharing
schemes because they do not need refueling. The transition to electromobility will
begin within cities. They could provide parking spaces for visitors, enabling people
to drive in with combustion vehicles, then switch to electrified forms of public or
personal transportation in the towns.
3.12.6 North America
Herbs, vegetables, and fruits will occupy a substantial share of the vertical farming
market. Tilapia will dominate the vertical farming market since it is currently the
fastest-growing species. North America will continue dominating the international
vertical farming market, and the industry is posed to continue growing because of
increased demand for food. Also, more buildings will be converted into vertical
farms.
75
3.12.3 Asia
India and China will play a crucial role in transitioning towards a circular economy
for creating socioeconomic and environmental benefits. The renewable energy cost
will continue dropping, thus making them a competitive and viable alternative to
fossil fuels. With falling prices and increasing investments in the Middle East, the
renewable energy sector will experience more expansion in the coming decade. The
likely future trends will include the deployment of hybrids, mini-grids, building
integration, more use of artificial intelligence, and utility-scale battery storage. The
Middle East will particularly witness more investment in solar and wind power.
3.12.4 Australia
Clean energy will provide 35% of the total electricity needs, thus underlining the
pace at which solar power will transform the energy market (Ison 2019). There
will be a rise in precincts of the renewable industry whereby the heat-intensive
industries could be able to access renewable heat from renewable energy production,
bioenergy, and solar thermal production. They will also be the major locations
for renewable export industries of Australia. The continent’s renewable exports
will continue supporting countries like Indonesia, South Korea, and Japan to shift
towards 100% renewable energy (Ison 2019).
3.12.5 Europe
Europe will experience an increase in the number of electric vehicles and car-sharing
schemes because they do not need refueling. The transition to electromobility will
begin within cities. They could provide parking spaces for visitors, enabling people
to drive in with combustion vehicles, then switch to electrified forms of public or
personal transportation in the towns.
3.12.6 North America
Herbs, vegetables, and fruits will occupy a substantial share of the vertical farming
market. Tilapia will dominate the vertical farming market since it is currently the
fastest-growing species. North America will continue dominating the international
vertical farming market, and the industry is posed to continue growing because of
increased demand for food. Also, more buildings will be converted into vertical
farms.