At a glance
As extreme weather around the world continues to raise concerns about the potential impact of climate change, there is a growing push to adopt renewable energy. This momentum has placed business of solar power development – and while solar has a very bright future, Samsung C&T Trading & Investment Group is committed to several business areas that contribute to the renewable energy picture. Let’s take a look!
How much do you know about renewable energy?
People have been using the energy of the sun, wind, and water for thousands of years – for everything from transportation to farming and grain production. But when we talk about renewable energy today, we are usually referring to the way these same natural sources are harnessed to produce electricity.
In that sense, we can date renewable energy back to the 1800s, when wind, water, and sunlight began to be harnessed to generate electricity. It was not until the 20th century, however, that momentum started to shift in favor of renewable energy, as the negative effects of burning fossil fuels for power started to be fully understood.
Today, the tide has shifted to such an extent that solar energy is set to be responsible for most of the world’s power capacity by 2027, ahead of coal and natural gas. Meanwhile, wind and green hydrogen are also rising as important sources of sustainable power.
Samsung C&T’s commitment to sustainability
Samsung C&T has made significant strides in the area of renewable energy development. As demonstrated above, the company has not only helped to raise North America’s solar and wind power capacity, but has also made efforts to expand green hydrogen, which involves the process of turning water into hydrogen using other forms of renewable energy. That makes green hydrogen a clean and sustainable source of fuel and power.
As well as promoting various new and renewable energy-related businesses, Samsung C&T is strengthening its eco-friendly business portfolio. A good example is its expertise in the area of battery recycling, which is gaining particular prominence due to the global shift towards electric vehicles. We will follow the company’s progress as it maintains its sustainability journey, while the world hopefully continues to embrace the wide variety of eco-friendly choices that are out there.