Renewable energy will continue to see strength in 2022 in beyond, paving the way for innovation to take place in areas such as wind energy.
In this case, wind energy is being harnessed when weather conditions don’t always permit operation at full capacity. To ensure that energy keeps flowing when the wind stops blowing, offshore energy storage company Ocean Gazer developed the Ocean Battery.
“At CES 2022, Ocean Grazer launches their CES Innovation Award-winning solution Ocean Battery. With this system the Dutch Water Engineers will fundamentally change the sustainable energy landscape. No one has resolved the global energy storage problem in a scalable, reliable, and affordable way — up till now! Ocean Grazer offers a brilliant yet simple solution, based on existing technology, enhancing marine life along the way,” writes the firm in a press release.
“The Ocean Battery is an energy storage solution for offshore wind farms installed at the seabed at the source of power generation,” the press released adds. “It provides utilities storage capacity that is infinitly scalable to Giga Watt hours scale. It is efficient, has low maintenance costs and is designed with a sustainable planet in mind and enhances marine life.”
An ETF With High Growth Potential
As innovative technology continues to hit the renewable energy market, the Global X Wind Energy ETF (WNDY) is set to prosper. The fund seeks to provide investment results that correspond generally to the the Solactive Wind Energy Index.
As such, WNDY seeks to invest in companies positioned to benefit from the advancement of the global wind energy industry, which includes companies involved in wind energy technology production, the integration of wind into energy systems, and the development and manufacturing of turbines that harness energy from wind and convert it into electrical power. The fund comes with a 0.50% expense ratio, which can be offset with its 30-day SEC yield of 0.63% (as of January 10).
Features of WNDY include:
- High growth potential: Forecasts suggest that the global market for wind energy could reach $127 billion by 2027, double the market size in 2019.
- Advancing clean technologies: Wind-powered turbines produce zero direct emissions, meaning that broader adoption could result in reduced greenhouse gas emissions and improved air quality.
- Conscious approach: WNDY incorporates environmental, social, and governance (ESG) screens and follows ESG proxy voting guidelines to affect positive change alongside financial returns.
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