Climate Tech's Bright Future: Five Predictions Unveiled

With 2024 well amd truly being the year for climate tech, the spotlight intensifies on this dynamic sector as it sits on the front line of tackling global warming through cutting-edge solutions. This field is not just about innovation: it's about revolutionising our approach to one of the most pressing issues of our time.

Recent findings from PwC illustrate a significant uptrend, highlighting that climatetech now represents a notable 10% of all tech investments worldwide, showing a steady ascent from a mere 1.5% over the past decade.

Among the vocal advocates and key players in this domain is Meir Rabkin, the visionary behind Blue Vision Capital. This venture capital fund is deeply invested in nurturing early-stage startups that are paving the way towards a cooler planet with efficient and innovative technology.

Meir, also a Board Member at the Carbon Neutral Club, shines a light on the transformative power of climate tech, offering a beacon of hope for the future.

The imminent future of climate tech, according to Meir, is more vibrant than ever, poised to shape a greener, more resilient world.

Here are his five climate tech predictions

1. Clean energy adoption to keep climbing

In 2024, the global shift to clean energy will gain unstoppable momentum. With more than 120 countries committing to triple their renewable energy capacity by 2030, the world is headed for a transformative leap towards a greener future, leaving fossil fuels in the rearview.

2. Carbon accounting software set to soar

As organisations strive for carbon neutrality, the ascent of carbon accounting software is meteoric. Forecasting a staggering growth from US$15.31 billion in 2023 to US$64.39bn by 2030 at a CAGR of 22.8%, these tools are set to play a vital role in shaping a sustainable, low-emission world.

3. Aquifers are ‘beacon of hope’ amid water scarcity worldwide

Amidst global water scarcity challenges, recharging depleted aquifers becomes a beacon of hope. The revolutionary use of treated wastewater for artificial groundwater recharge marks a paradigm shift, offering a sustainable alternative to desalination. This cutting-edge approach signals a crucial step towards responsible water resource management.

4. Energy systems to be revolutionised

2024 will be the year of decentralised energy solutions. Sustainable microgrids, powered by a mix of renewables, are set to revolutionise energy systems. Not only do they climate-proof grids against disasters, but they also accelerate the electrified ecosystem, paving the way for resilient communities and bolstered investment in electrified transport.

5. Renewables paving path away from traditional power grids

In the unfolding narrative of 2024, the stage is set for the rise of Distributed Energy Resources. Sustainable microgrids, fueled by solar, wind, and energy storage, are spearheading a movement away from traditional power grids. Early adopters, including smart-home enthusiasts and electric vehicle aficionados, will pioneer the future of decentralised energy, demonstrating the power of sustainable living.

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