Our Innovation Analysts recently looked into emerging technologies and up-and-coming startups in the energy industry. As there is a large number of startups working on a wide variety of solutions, we decided to share some of our insights with you. This time, we are taking a look at 5 promising renewable energy solutions.
Heat Map: 5 Top Renewable Energy Startups
For our 5 picks of renewable startups, we used a data-driven startup scouting approach to identify the most relevant solutions globally. The Heat Map below highlights 5 interesting examples out of 600 highly relevant renewable energy solutions. Depending on your specific needs, your top 5 picks might look entirely different.
Utilight – 3D Printing
Additive manufacturing makes the eco-conscious choice of renewable energy more affordable by providing a significant reduction in manufacturing costs of solar panels and wind turbines. Israeli Utilight invented and develops an innovative 3D printing technology for high-volume manufacturing of solar PV cells with significant cost, material (silver paste) and time savings while increasing the solar cells’ efficiency.
Fervo Energy – Geothermal Power
Geothermal power is an attractive low-carbon energy alternative as it is a constant source of power, unlike wind and solar which rely on atmospheric conditions and the time of day. Recent innovations in this field enable significant efficiency improvement and cost reduction thus allow for wider adoption of geothermal energy. US-based Fervo Energy develops technology for power generation from enhanced geothermal systems (EGS), that enables significant cost reduction of geothermal power. Fervo Energy incorporates cost-effective technologies from other fields, such as horizontal drilling, to unlock the potential of geothermal energy. In 2018, the company secured an investment from Bill Gates’ Breakthrough Energy Ventures Fund.
Oxford Photovoltaics – Solar Panels
Many new materials for solar panels were developed in recent years. These innovative materials include supercritical CO2 and perovskite, which increase heat absorption and efficiency of PVs while lowering electricity and manufacturing costs. Key to enabling photovoltaics to become a core technology in our clean energy future is low cost and high efficiency. UK startup Oxford Photovoltaics states, by applying its low cost, high-efficiency thin film perovskite solar cell on top of commercial silicon solar cells, it can significantly boost the performance of mainstream solar. In 2018, the company set a new certified world record efficiency for its perovskite on silicon tandem solar cell, that surpassed the record performance for a single junction silicon solar cell.
HST Solar – Solar Software
Solar software is used by solar developers, preconstruction teams and utilities for cost estimation, design, modeling, real-time control, monitoring, and orchestration of solar farms. The US-based startup HST Solar builds an AI-powered software to design utility-scale solar farms. The company claims that designing solar systems using their artificial intelligence (AI) tool can reduce the cost of energy produced by up to 20%, in comparison to manually designed solar farms.
Kite Power Systems – Wind Power
While the number of wind installations across the world is constantly growing, startups are developing innovative solutions to increase efficiency and reduce the cost of wind power generation. These solutions include biomimetic wind trees, kite-driven power stations, as well as quiet and elegant wind turbines for homes. UK-based Kite Power Systems creates commercial kite-driven power stations. Kites have advantages over wind turbines because they can fly higher and therefore reach higher winds.
What About The Other 595 Solutions?
While we believe data is key to creating insights it can be easy to be overwhelmed by it. Our ambition is to create a comprehensive overview and provide actionable innovation intelligence for your Proof of Concept (PoC), partnership, or investment targets. The 5 renewable energy startups showcased above are promising examples out of 600 we analyzed for this article. To identify the most relevant solutions based on your specific criteria and collaboration strategy, get in touch.