The role of nanotechnology in revolutionizing energy sector

Abstract

The need for modernization of existing energy sector is driven by globally increasing energy demand, rising carbon emissions, global warming and climate change. The world tends towards the sustainable and more environmentally friendly energy sector that will meet future energy demands by reducing the usage of raw and non-renewable materials and resources and decreasing energy consumption and pollution. Nanotechnology, as one of the key technologies of 21^st Century, holds a potential to revolutionize the entire energy sector, contributing to the development of more efficient and sustainable energy systems. Implementation of nanotechnology in the energy sector is in the various stages of research, development, and deployment. Nanotechnology’s solutions and approaches can help create innovative ways to produce, change, distribute, store and consume energy. Nanotechnology potential in many fields of the energy sectors consists in more sustainable energy supply, increased energy efficiency in generation and consumption, accompanied with the lower costs and reduced pollution. This paper attempts to summarize some of the current nanotechnology applications in energy sector, emphasizing the associated benefits as well as risks and concerns. Present nanotechnology-based solution and approaches used in the energy sector confirms nanotechnology's potential to revolutionize the entire energy sector. Alongside the growing use of nanomaterials and nanoproducts, uncertainties on the nanotechnology potentially harmful influence on the environment, health, and safety rise as well, representing a main concern related to nanotechnology applications. In addition to the technological feasibility of the nanotechnology implementation in the energy sector, a wide range of other conditions, such as political, economical and social, influence the rate of implementation and acceptance of nanotechnological innovations in the energy sector.