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Global electric vehicle (EV) sales closed at 2.2 million in 2019. This number is expected to drop 43% to 1.3 million by the end of 2020, according to new research from Wood Mackenzie.
According to new analysis from Wood Mackenzie, annual average wind turbine supply is forecast to hit $60 billion between 2020 and 2028 - reflecting an increase of 8% compared to 2019.
In a new report, Wood Mackenzie projects that India could face over 21.6% or 3 gigawatts (GW) of solar photovoltaic (PV) and wind installations being delayed as a result of the country’s lockdown.
If coronavirus containment measures continue to curtail movement of goods and people through Q2 this year, alongside an economic downturn, the market impact could trim Wood Mackenzie’s 2020 global energy storage deployments forecast by 19%.
Wood Mackenzie has trimmed its forecast for US behind-the-meter (BTM) energy storage in 2020 by 31% as a result of the coronavirus crisis.
Over the next decade, traditional fuel-based generation will shrink as a proportion of the power mix. This will increase the flexibility needs of utility and power markets, according to Wood Mackenzie.
Wood Mackenzie expects 1.5% of all passenger vehicles in the United Kingdom to have a plug by the end of 2020, ramping up to 43% by 2040.
Approximately $2.1 billion in cumulative disclosed corporate-level investment was deployed into off-grid energy access markets between 2010 and 2019.
2019 saw nearly 100GW of global wind turbine order capacity, shattering the previous record set in 2018, according to new analysis from Wood Mackenzie.
The next decade is set to deliver more of the same for solar PV, according to Wood Mackenzie.
The starting gun has sounded for the global storage market, which is set to grow from approximately 4GW of annual deployments in 2019 to more than 15GW in 2024, according to Wood Mackenzie.
Solar system prices will continue to drop over the next decade, driven by advances in module efficiency, manufacturing, labour practices and software, according to Wood Mackenzie.
India's 2020 energy outlook
In Q3 2019, Tesla announced its plans to capture 1% of all car sales globally. With its current portfolio of luxury cars, the company is unlikely to meet that target by the end of the decade. However, if it launches an entry-level car priced at $25,000, Wood Mackenzie projects that Tesla will meet the 1% target as early as 2024.
Explore the latest trends in CCUS as 2025 shapes up to be a breakthrough year, with rising optimism and record FIDs expected. Learn about project financing, policy support and the companies leading the charge in carbon capture and storage.
Africa’s energy statistics make for a disappointing read. As world leaders meet this week for the COP29 talks, some 600 million Africans still have no access to electricity and per capita energy consumption remains the lowest globally.
A new Trump administration will have huge influence across both the domestic and international arenas. Introducing more import tariffs, abandoning climate policy and resolving conflicts are all high on the agenda. There are major implications for the energy and natural resources sectors.
Booming data centre build-out is a key driver of resurgent US power demand.
European voters just threw a spanner in the works of the EU’s 2030 decarbonisation targets. Last month’s European parliamentary elections saw a dramatic shift in power to nationalist and populist parties, which tapped into, among other issues, voter scepticism over the pace and sheer cost of the energy transition. We look at the impact of the elections on tackling climate change.
The US and EU have slapped big tariff increases on Chinese EVs, responding to the threat of China flooding those regions with low-cost electric vehicles. Restricting EV and battery imports not only threatens the pace of road transport decarbonisation, but higher tariffs could also negatively impact domestic automakers.
Higher interest rates could stall investment in green technologies. Learn what Policymakers can do to keep the energy transition on track in this analysis.
Our new Delayed Energy Transition scenario reflects the increasing risk that the transition will be much slower than a Paris-aligned pathway.
The cancellation of NuScale's small modular nuclear reactor project in November cast a shadow over this nascent technology. Yet the project pipeline continues to build, reflecting the industry's belief that SMRs can be a gamechanger for nuclear. How big is the current pipeline? What is the potential scale of SMRs' contribution to net zero? Which countries and developers are leading the way? How much do costs need to come down?
Green hydrogen is expected to be the winner among the ever-widening hydrogen colour palette. Its potential for zero emissions is the attraction, assuming scaling up of this nascent industry delivers molecules that are cost-competitive. What factors could spoil green hydrogen's low-carbon credentials? Could blue hydrogen have lower carbon intensity than green? Are there solutions that green hydrogen developers can fix?
Can the rest of the world compete with China?
The challenges in accelerating the energy transition
Low-carbon hydrogen will play a critical role in decarbonisation, contributing at least 4% of global energy demand by 2050. Who are best placed to become market leaders?
Climate policy, commodity prices and corporate strategies
Investment in energy supply must increase to US$2.7 trillion a year
Investment in the grid and storage must match renewables growth
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