In 2020, renewable energy outperformed fossil fuels. Nonetheless, the International Energy Agency estimated that emissions would only fall by about 7% that year—even with the pandemic contributing to the decrease in automotive and industrial pollution. It's obvious that we need to do more in order to change our current climate trajectory, and these are the top energy startups looking to do exactly that.
ReNew Power is one of India's biggest and most impactful renewable energy companies. At the moment, India is home to 22 out of the 30 most polluted cities—something that ReNew is actively working to change. They develop, create, and manage wind and solar power facilities for commercial and industrial applications over eight Indian states. All told, they are currently managing roughly 100 renewable energy projects.
Founded in 2011, this company has grown by leaps and bounds. In 2016, they became the first company in India to reach a 1 GW capacity. In 2020, they signed an agreement to acquire Climate Connect, an artificial intelligence and machine learning startup that specializes in India's power market.
Part of the problem with renewable power is prediction. If you can foresee energy production based on weather, it dramatically increases energy efficiency. This is where machine learning and artificial intelligence come in: They can create useful weather models and analyze data to improve the renewable industry.
Windbreak, an Israel-based startup, specializes in weather prediction for the energy industry. This increases efficiency, lowers costs, and improves the long-term sustainability of renewable power.
Another major issue with renewables is proper storage. Solar and wind power isn't transportable in their raw forms, and current battery technology isn't a very efficient way of storing renewable power for long-term use. As a result, many renewable companies end up having to pay out of pocket to develop their own unique storage solutions.
This is where Surge Analytics can help. Based in Singapore, they produce artificial intelligence and machine learning solutions for battery manufacturers. Their outlier detection and analysis capabilities make things easier for original equipment manufacturers, who then supply their products to renewable projects around the world. This helps streamline the research and development process while maximizing the efficiency of the finished products.
Founded in India in 2012, Carbon Masters addresses emissions concerns by developing clean energy solutions and low carbon methods, and providing carbon mitigation consulting services to other companies.
This company pioneered the creation of Carbonlites, biogas stations that use organic waste. Right now, India suffers from overfilled, mismanaged landfills and illegal dumping operations, which have resulted in increased air and water pollution. Bangalore's municipal body began sending Carbon Masters 10 tons of food waste daily, which this company turned into fertilizer for local farmers, and biogas to power local homes and businesses. From that 10 tons of waste come 400 kg of biogas and one ton of fertilizer, while saving 5 tons of methane and over one ton of carbon dioxide.
If there's one thing that 2020 taught us, it's the importance of prediction and risk management. This is especially true for the renewable industry, where multiple factors come together to create fluctuations and variation in production capacity and storage. Enkumo is a UK-based startup that provides a digital energy analytics platform for business owners and managers.
This company's platform helps energy procurement departments analyze and regulate their businesses' energy consumption, as well as analyze risks. It gives organizations the tools they need to see exactly what's influencing their energy consumption, and predict how changes in these factors will increase or decrease their power needs.
The renewable energy industry is growing in all kinds of new, exciting ways. Many of the most promising startups in the market right now aren't even in the business of creating photovoltaic cells, hydroelectric generators, or wind turbines—they're working on improving battery life and efficiency, and creating machine learning algorithms that can help the renewable industry be as sustainable, reliable, and cost-effective as possible. These startups around the world are working to help the renewable energy industry be the best it can possibly be.
