There are few areas of the economy that have more potential than renewable energy. Entrepreneurial and engineering efforts to tap into solar, geothermal, hydroelectric, and wind energy have all met with strong results, making it more likely for success than if established companies attempt to tackle energy problems. Some of the hottest new companies on the market are looking to reduce the impact of fossil fuels or completely achieve energy independence.
Energy in India
The Indian subcontinent has resisted renewable energy for many reasons, including the lack of infrastructure, refusal to change from the status quo, and the high level of input cost needed to get a steady market. A new story out of Delhi, however, has suggested that this may be ready to change. Siddharth Malik, a thirty-year old graduate of the University of Pennsylvania turned down a one-million dollar per year salary with an energy company in order to found his own renewable energy solutions firm. His start up Megawatts Solutions looks to achieve renewable energy implementation with high functioning solar cells.
With the tagline that if the sun is shining, fossils do not need to be fired, his company has seen a twenty-five percent increase in efficiency compared to the competition. His company has started the largest Indian solar thermal heating project in Gujarat.
Eat Trash, Create Money
The amount of trash on the planet is not decreasing, but through the efforts of IST Energy, that may come to a change soon. Known for its invention of “the Green Energy Machine”, IST energy has found a way to convert trash into cheap and effective energy. CEO and founder Stu Haber launched his company in 2010 with the hope of being able to utilize the excess amount of trash in the world while also providing energy.
The Green Machine compacts as much as three tons of trash per day into small pellets that can be used for electricity. Not only has it proven to provide less expensive electricity for facilities like universities and medical centers, but it can also eliminate up to ninety-five percent of the costs of a building’s waste disposal. At a high price tag, however, it is a lot of money for all but the largest businesses, since the Green Machine costs nearly a million dollars to purchase and install. With a smaller version due out in the near future, however, IST looks to be a contender in the green energy scene.
Environment and Inviroment
Secretary of Energy Ponemen recently awarded one hundred thousand dollars in prize money to the Invironment entrepreneurial start-up team from Brigham Young University for their invention of a biodegrading technology that would help to break down the plastics that clog up landfills. This competition, held in Washington DC, highlights young entrepreneurs who look for solutions to the energy and environmental issues facing the country.
Invironment looks to not only reap a large government grant, but also tack on some of the four million dollars pledged by private sector investment in new technology.
Exercise and Energy
When you go to the gym, you burn calories to create energy. For a long while, that energy simple sat there. Now, thanks to startup Energy Solutions International, it is possible to power an entire gym with nothing more than the stationary bikes that customers use. Chris Maddern described his two-year old company as “building a better mousetrap”, re-designing how the fitness world utilizes energy in order to minimize their carbon footprint.
Their future projects attempt to create entirely self-powering gyms, where users are able to determine just how many kilowatts they have burned by working on their abs.
About the Author: William Stevens is a writer who creates informative articles in relation to technology. In this article, he describes the continued search for new energy sources and aims to encourage further study with a masters in engineering management online.