TECHNOLOGY TREND 2: ENERGY
According to several research, there is a growing interest in renewable energy as the Earth’s population continues to grow. They are clean and do not produce greenhouse gases. It is vital to overcome the challenges of climate change and energy security. For instance, solar panel technology is the process of converting sunlight into electricity. Solar panels are made up of photovoltaic (PV) cells, which are semiconductor devices that convert light into electricity. When sunlight hits a PV cell, it knocks electrons loose from their atoms. These electrons flow through the cell, creating an electrical current. Energy resources are raw materials that are used to generate energy. There are two types of energy which are renewable energy and non-renewable. Renewable energy resources are those can be replenished over time. Non- renewable energy resources are those that cannot be replenished over time. The world’s energy demand is growing and there is a need to find sustainable sources of energy. Sustainable aviation fuel (SAF) is a type of fuel produced from sustainable feedstocks. It is similar in chemistry to traditional fossil jet fuel, but it has a lower carbon footprint. SAF can reduce carbon emissions by up to 80% compared to traditional jet fuel over the lifecycle of the fuel. Jet fuel is a high-energy fuel that is essential for commercial aviation. It is this energy density that has enabled commercial flight to become possible. Today, there are no other viable options for transporting groups of people quickly over very long distances, so we are dependent on jet fuel in aviation. Additionally, global oil demand is expected to rise by 2.2 million barrels per day (mb/d) in 2023, reaching a new record of 102.1 mb/d. However, because of persistent economic headwinds, which are evident in the deepening manufacturing slump, we have lowered our 2023 growth estimate for the first time this year by 220,000 barrels per day.
Fueling a sustainable future
Forestry waste
Used cooking oil
From waste to wingtip the production journey for sustainable aviation fuel (SAF) using SAF can reduce lifecycle carbon emissions by up to 80% compared to the traditional jet fuel it replaces
Fuel is delivered to airport and into wing
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Household waste
Feedstock is collected - such as household waste or watse oils.
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Feedstock is converted to sustainable aviation or waste oils
Feedstock is converted to sustainable aviation or waste oils
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Malaysian Technology Strategic Outlook 2023/2024 Energy, Healthcare & Space Industry
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