Economic Impact of Energy Technologies

USA TODAY, August 2018 | Go to article overview

Economic Impact of Energy Technologies


With the one constant in the energy industry being change, innovation continues at a rapid pace with ever-evolving technology and environmental health becoming more of a priority, maintains Ted Annis, manager and cofounder of Transducing Energy Devices, LLC, Ann Arbor, Mich., a company in the developmental phase of producing a fuelless electricity generating device that could take care of a variety of energy needs.

Growing numbers of consumers and companies are considering the benefits of alternative, sustainable resources that are environmentally friendly. A Pew Research Center survey found that 65% of Americans give priority to developing alternative energy sources, compared with 27% who would emphasize expanded production of fossil fuel sources.

"Ws becoming a new world with a lot of exciting, cutting-edge developments in energy that could benefit consumers and companies down the road," says Annis. "In the energy sector, there's a shake-up going on necessitated by changing demands, the infrastructure, and the hard realities of the climate and economy. Many different innovations are supposed to be disruptive, but in a good way."

Annis lists five energy technologies that should have an economic impact:

Wind. A renewable energy source with zero emissions, this is projected to be the single fastest-growing energy source over the next 20 years. 'Wind energy has become a mainstream, reliable power technology in recent years. Technology improvements have continuously reduced energy costs."

E-fuels. Electrofuels is an umbrella term for liquid or gaseous fuels that are produced using electricity. …

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