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The U.S. solar industry installed 43 gigawatts (GW) of new capacity in 2025, remaining the dominant source of new capacity added to the grid for the fifth consecutive year. Solar and energy storage represent 79% of new capacity installed in the first year of the Trump Administration.
The future of electricity is at a crossroads, with demand soaring because of AI, EVs and more. Google, Microsoft and Nucor have an innovative plan to boost clean energy tech and aid this rising demand. Tune in to our latest episode of The Energy Gang as host Ed Crooks, alongside experts Dr Melissa Lott and Michael Webber, explore the urgency of this issue and the role emerging technologies must play.
How will global power markets evolve over the next decade and beyond?
With the growth outlook for onshore and offshore wind looking healthy, Chinese wind turbine OEMs are hungry for global expansion
Weakness in the global markets for solar modules and batteries is pushing down system costs in the United States
Latin America will install 11.3 GWdc of solar PV capacity in 2021 for a total of 71.9 GWdc by 2026, driven by commercial and industrial clients in the free market (mainly in Brazil and Chile), as auctions take a less meaningful role for procurement.
From 2024 to 2033, developers will bring more than 5.4 terawatts (TWac) of new solar and wind capacity online, increasing the cumulative global total to 8 TWac, as the world endeavours to electrify economies and meet decarbonisation targets.
South America’s cumulative onshore wind capacity will double to 79 GW in the next 10 years as developers install 40 GW of new capacity by 2033.
Singapore's low carbon power target of 4 GW achievable by 2035
The small nuclear reactor (SMR) project pipeline reached 22 GW in the first quarter of 2024, an expansion of 65% since 2021, according to a recent report by Wood Mackenzie. The current total project pipeline would require an investment of close to US$176 billion.
The Brazilian power market is expected to install 115 gigawatts (GW) of new capacity by 2034, primarily driven by the rise of free market demand. Wind and solar energy will spearhead growth, with 61 GW of utility and distributed solar and 24 GW of onshore wind projects due to be added in the next 10 years.
Solar module manufacturing capacity in the United States now exceeds 31 gigawatts (GW) — a nearly four-fold increase since the Inflation Reduction Act (IRA) became law in 2022.
7.3 gigawatts direct current (GWdc) of total new community solar installations are expected to come online in existing state markets by 2029 in the US, according to the latest report released by Wood Mackenzie in collaboration with the Coalition for Community Solar Access (CCSA). Cumulative national community solar installations will break 14 GWdc by 2029.
Telsa has overtaken Sungrow as lead producer in the battery energy storage system (BESS) integrator market with a 15% market share in 2023.
Global PV inverter shipments grew by 56% to 536 gigawatts alternating current (GWac) in 2023, reflecting a strong year for the broader solar industry. The top 10 global PV inverter vendors accounted for 81% of the market.
Global PV tracker shipments grew by 28% in 2023 to 92 gigawatts direct current (GWdc), reflecting a strong year for utility-scale solar in most regions across the world.
If high interest rates persist, transitioning to a net zero global economy will be even harder and more costly. The higher cost of borrowing negatively affects renewables and nascent technologies, compared to more established oil and gas, and metals and mining sectors, which remain somewhat insulated.
China accounted for 65% of global wind capacity in 2023, which pushed four Chinese wind turbine original equipment manufacturers (OEM) into the top five global rankings, a first for the sector. With a record of 16.3 gigawatts (GW) capacity installed, Goldwind maintained the leading position for the second consecutive year.
Wood Mackenzie, a portfolio company of Veritas Capital, has appointed Xizhou Zhou EVP and Head of Power and Renewables, effective 3 June.
Nine out of the top 12 manufacturers in Wood Mackenzie’s new global solar PV module manufacturer rankings are Chinese companies.
Cheaper batteries, faster charging and greater ranges will make the 2020s the decade of the electric vehicle. Latest analysis from Ram Chandrasekaran.
Following a disappointing year, electric vehicles (EVs) could be front and centre of global geopolitics in 2024. How will that change the road ahead?
Wood Mackenzie and Let’s Share the Sun Foundation aspires to facilitate the use of solar energy in poor communities around the world. Together our mission is to raise funds to support energy access in Puerto Rico.
What's new in store? Get the highlights from some of our most popular insights across the entire natural resources value chain. This week, the long-term outlook for Europe power markets, the Chevron acquisition of Anadarko and more.
Considerable uncertainty remains in 2026
How does the region move rapidly towards a pathway to decarbonisation in line with Paris Agreement goals, while ensuring continued economic growth and competitiveness?
How would the Western Interconnection region cope in both normal daily operations as well as various stress scenarios, and what would it take to push it over the edge? Wood Mackenzie was brought in to identify the risks and recommend options to mitigate these threats.
European solar installations hit a five-year high in 2018, and the annual market should crack 20 gigawatts by 2021.
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