As the global population grows, so does the demand for a wider array of products and services. However, this surge in demand often leads to production processes that generate increased waste, posing a significant threat to our environment.
Fortunately, cleantech, short for clean technology, offers a solution to this coming crisis. Cleantech encompasses environmentally friendly processes and systems that not only meet society’s demands but also preserve our natural environment.
Cleantech market set for expansion
ReportLinker’s Global Clean Energy Technologies Industry 2023 report revealed that the global market for clean energy technologies is forecasted to grow to $448.8 billion by 2030, showing an annual compound growth rate of 5.5%.
Since the cleantech market is poised for rapid growth, those who are interested may want to become familiar with the lingo.
Understanding the cleantech concepts
TechRepublic Premium has put together a quick glossary of 58 fundamental concepts to help readers grasp this evolving sector.
This resource breaks down the multifaceted landscape of cleantech. It provides definitions of terms like carbon tax, which is imposed by governments on the carbon content of fossil fuels or the greenhouse gas emissions related to particular business activities or operations. Usually, the tax is charged per ton of carbon emitted. Emitters (e.g., power plants or industrial facilities) are required to pay the tax based on their emissions. The tax rate may differ based on the carbon intensity of the fuel or activity.
You will come across the notion of a decentralized energy system, which refers to a distributed energy generation and distribution network that operates independently or semi-independently from a centralized power grid. It usually involves small-scale renewable energy sources (e.g., solar panels, wind turbines and microgrids) to provide the energy needs of local communities or regions.
The glossary offers insight into e-waste recycling, short for electronic waste recycling. This is the process of responsibly collecting, disassembling, processing and recycling discarded electronic devices and components to recover valuable content and reduce environmental harm. E-waste includes various forms of electronic and electrical equipment (e.g., old computers, mobile phones and appliances) that have reached the end of their useful life or are no longer needed by their owner.
Look into the resource deeper to understand the complexities of a renewable portfolio standard. This is a regulatory policy that requires utilities, energy suppliers or other related entities to produce a specified proportion or amount of their power from renewable energy sources. Its policies are intended to encourage the use of renewable energy, mitigate greenhouse gas emissions and optimize energy sustainability.
The glossary explains source reduction, a waste management strategy that emphasizes reducing the production of waste materials from the start of the product life cycle. It entails implementing adjustments in product design, materials utilized and consumption behaviors to minimize the amount and harmful effects of waste produced.
This resource also looks into cleantech-related terms like clean energy, eco-labeling and net zero emissions.
If all these pique your curiosity, check out TechRepublic Premium’s 13-page quick glossary for only $19.