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Although the world, in the near future, is inevitably set to face an energy challenge, its appetite for energy keeps growing. Currently, the world is dependent on fossil fuels for most of its energy consumption. Although their reserves will last for the next decade, they will not be able to cover the worldwide energy consumption in the long run. In such a scenario, it becomes clear that future energy supply can only be guaranteed through increased use of renewable energy sources, like sun, wind, water, tides, geothermic or biomass. However, it is still inefficient and too expensive for these renewable resources to take over significant parts of the energy supply. Hence, it is the role of innovative energy technologies like nanotechnology to provide socially acceptable solutions through energy savings, efficiency gains, and efficient energy distribution techniques.
 
According to our report, breakthroughs in nanotechnology open up the possibility of moving beyond our current alternatives for energy supply. Nanotechnology has the potential to enhance energy efficiency across all branches of industry through new technological solutions and optimized production technologies. The application of nanotechnology or nanomaterials in the field of energy, which involves lithium-ion battery, fuel cell, Light Emitting Diode (LED), ultra-capacitor and solar cell, is a hot topic in many scientific researches. Recently, many researches have been conducted to develop innovative devices using nanotechnology like ‘water-in-salt” battery, “invisible” as well as paper thin solar cells among others. On the back of these researches, the global nanoparticles market in energy applications is expected to grow at a CAGR of nearly 12.5% during the forecast period.
 
Further, the emerging role of nanotechnology in the energy sector can be verified by the fact that Nanotechnology for Solar Energy Collection and Conversion is one of the five Signature Initiatives funded by the U.S. National Nanotechnology Initiative. Nanotechnology in the Energy sector is a great tool for improving the way in which energy is generated, stored, transmitted, distributed and managed. Growing energy demand will therefore encourage the growth of nanotechnology in the Energy Applications market.
 
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