Shell renewables and energy solutions: Renewable energy is increasingly important to the world’s future energy mix. The share of renewable sources in global energy consumption has grown steadily in recent years, and that trend is expected to continue.
Within this context, many large companies have begun to develop renewable energy projects as part of their Corporate Sustainability Strategy.
Among them, Shell – one of the largest oil and gas companies in the world – recently announced that it will invest $1 billion in renewable energy projects over the next two years.
This blog post briefly explains what Shell’s renewable energy business is and why it decided to pursue this area of activity. Furthermore, we highlight some challenges and opportunities for the company in this field.
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Shell’s Renewable Energy Business: The Expert Opinion
Shell is one of the largest oil and gas companies in the world. As a result, many might not know that Shell has a broad range of businesses, including renewable energy. It is perhaps unsurprising that Shell has entered into the renewable energy market, given that it operates in many other industries with similar pressures for cleaner, more sustainable operations. However, it may come as something of a surprise to learn that Shell has several renewable energy projects across the world. Moreover, this isn’t just another small division; it’s one of the largest segments in Shell’s operations. In fact, in 2017 alone, Shell spent an estimated $1 billion on its renewable business segment, making it one of their largest investments last year (you can read more about this here
What Is Shell’s Renewable Business?
Shell’s renewable energy business is responsible for all of Shell’s businesses related to renewable energy. This includes both the generation of renewable energy and the selling of renewable energy products or services. It also includes the development of new renewable energy projects, such as solar farms, offshore wind parks, and energy storage systems. Shell’s solar business has been particularly active recently. In 2018, the company opened six solar projects across the United States, with a combined capacity of 130 MW. It also added six solar projects to its portfolio in India, bringing its total capacity in that country to 400 MW. Shell’s solar business primarily focuses on selling solar systems to businesses and governments, rather than to individual homeowners. The company also sells solar systems to residential customers as part of its Greenhouse Gas (GHG) reduction program.
Shell’s Current Renewable Energy Projects
The majority of Shell’s renewable energy projects are solar projects. Indeed, many of the new solar projects that the company has opened in the past couple of years have been built in response to state-level solar capacity requests in California and New York. One of Shell’s largest projects is the California Flats Solar Project, which has a total installed capacity of 250 MW and is expected to produce enough energy to power some 40,000 homes. This project was completed in 2018 and was built on a former cattle ranch in Kings County. Another solar project that has been in the news recently is the Newark Solar Project, which was developed by a joint venture between Shell and Edison. It was opened in October 2018, and it is expected to produce enough electricity to power around 5,200 homes.
Why Has Shell Incorporated Renewables Into Its Operations?
Oil and gas is a very profitable business, and it has been for decades. However, it is also a heavily polluting industry, and the rapid rate at which it is being extracted from the earth is causing significant harm to the environment. Shell has responded to these concerns by looking at ways in which it can operate more sustainably. One such way is to incorporate renewable energy in its operations – to start using renewable energy sources rather than fossil fuels. As well as being a more sustainable business model, incorporating renewable energy into Shell’s operations also has economic benefits. Renewable energy projects are often much less expensive to construct than their fossil fuel counterparts, making them a more profitable option for investors.
Where Does Shell See The Future Of Renewable Energies Going?
Shell expects that renewable energy will continue to grow at a rapid rate over the coming decades. Indeed, the company expects renewable energy sources to become a much more significant part of the global energy mix by 2050. Shell has also stated that it expects to play a significant role in many of the major renewable energy projects that take place during this period. This includes the construction of solar farms, wind parks, and other renewable energy projects. As well as selling renewable energy systems to residential and commercial customers, Shell also expects to play a role in the construction and operation of major renewable energy projects, such as solar farms and offshore wind parks.
Overall, it is clear that Shell expects renewable energy to play a major role in the future energy landscape. The company expects renewable energy sources to generate at least 50% of the world’s electricity by 2050, up from approximately 10% today. Shell knows that renewable energy will play a significant role in ensuring a cleaner, more sustainable, and more reliable energy landscape. Ultimately, the company aims to be a leading player in the renewable energy market, with renewable energy projects making up a large part of its operational activities.
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