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Nuclear needs to be cost competitive with alternative power generation to enable net zero

18 May 2023

Despite policy support and market growth, the biggest economic hurdle to the uptake of the latest nuclear and small modular reactors (SMRs) is cost, according to Wood Mackenzie report.

News Release

Global floating solar to top 6GW threshold by 2031

24 May 2023

The global floating solar market is expected to pass the six-gigawatt (GW) threshold by 2031, as PV developers struggle to meet growing solar demand and look to alternate development technologies.

News Release

US solar market registers best first quarter in industry history as supply chains stabilize and Inflation Reduction Act takes hold

08 June 2023

The US solar industry installed 6.1 gigawatts (GW) of solar capacity and had its best first quarter in history, according to the US Solar Market Insight Q2 2023 report released today by the Solar Energy Industries Association (SEIA) and Wood Mackenzie.

News Release

US Distributed Energy Resource market to almost double by 2027

20 June 2023

The US Distributed Energy Resource (DER) market is expected to nearly double in capacity from 2022 to 2027, with capital expenditure reaching US $68 billion per year, according to Wood Mackenzie’s ‘2023 US Distributed Energy Resource Outlook’ report released today.

News Release

Australia leads global market for battery energy storage systems

17 July 2023

Australia leads the global market for battery energy storage systems (BESS), with the total pipeline of announced projects now exceeding 40 gigawatts (GW), according to latest Wood Mackenzie analysis launched at the Australian Clean Energy Summit in Sydney.

News Release

India needs radical transformation to reach net zero emissions by 2070

27 July 2023

How can India attain its net zero emissions goal by 2070, in line with global pledges to reach net zero emissions by mid-century? Wood Mackenzie analyses the scenario in its latest report ‘India energy transition pathways 2070’, concluding that the country must radically transform its energy landscape and prioritise renewable energy, electrification, hydrogen adoption, and carbon removal strategies.

News Release

Cumulative US community solar capacity expected to break 6 GW in 2023, despite interconnection and siting headwinds

08 August 2023

US community solar installations declined by 6% year-over-year in 2022 and 13% in Q1 of 2023. This was primarily driven by the supply chain uncertainty of the past year as well as interconnection and siting issues hindering growth in key state markets such as Massachusetts and Maine, according to the latest report released by Wood Mackenzie in collaboration with the Coalition for Community Solar Access (CCSA).

News Release

Industry leaders to speak at Wood Mackenzie’s Hydrogen Conference

31 August 2023

Join Wood Mackenzie’s expert analysts and industry leaders to understand the key drivers and challenges of deploying low-carbon hydrogen at the Hydrogen Conference at the Hilton London Tower Bridge on 20 September 2023.

News Release

Solar installations in 2023 expected to exceed 30 GW for the first time in history

07 September 2023

The U.S. solar industry expects to add a record 32 gigawatts (GW) of new capacity in 2023, a 52% increase from 2022, according to the US Solar Market Insight Q3 2023 report released today by the Solar Energy Industries Association (SEIA) and Wood Mackenzie.

News Release

US renewables annual capacity additions to nearly triple in 10 years

15 September 2023

Speaking at the RE+ conference in Las Vegas, Chris Seiple, vice chairman, power and renewables for Wood Mackenzie said that with the Inflation Reduction Act (IRA) driving the economic competitiveness of renewables, annual capacity additions will nearly triple in 10 years to 110 gigawatts (GW).

News Release

APAC to invest US$3.3 trillion in power generation over next decade

04 October 2023

The Asia Pacific region is forecast to invest US$3.3 trillion in power generation over the next 10 years, with 49% earmarked for wind and solar, and 12% for energy storage, according to latest Wood Mackenzie analysis.

News Release

7 Btpa of carbon capture needed to meet net zero by 2050

16 October 2023

Speaking at Wood Mackenzie’s Carbon Capture, Utilization and Storage Conference in Houston, Mhairidh Evans, head of CCUS research for Wood Mackenzie, said that urgency is needed to meet the seven billion tonnes carbon capture (Btpa) required to meet net zero goals in 2050.

News Release

China Belt & Road Initiative brings in 128 GW installed power capacity in 10 years

20 November 2023

Chinese companies have made significant strides in the Belt & Road initiative's overseas power projects over the past decade. With an estimated investment value of around US$200 billion, over 300 projects have installed 128 GW of power, equivalent to 1.3 times Australia's installed capacity in 2022. However, challenges have emerged, leading to the cancellation or shelving of over 20% of projects to date.

News Release

COP28: Middle East could play a key role in decarbonising global economy

23 November 2023

Large oil and gas reserves in the Middle East have resulted in especially low domestic energy prices and provide little incentive to transition to low carbon alternatives, according to Wood Mackenzie’s Middle East Energy Transition Outlook report.

News Release

China leads global renewables race with record-breaking 230 GW installations in 2023

28 November 2023

Currently on target to reach a record-breaking 230 gigawatts (GW) of wind and solar installations this year, China leads the global renewables market. This is more than double the number of US and Europe installations combined.

News Release

Competition increases in the residential solar-plus-storage battery market

12 December 2023

As the residential solar-plus-storage market continues to grow, competition has increased amongst battery vendors, with new manufacturers gaining market share in recent years, according to a new analysis from Wood Mackenzie

News Release

US energy storage installations set new record in Q3 2023

13 December 2023

The U.S. storage market hit a new high in Q3 2023, installing the most capacity in a quarter to date with 7,322 megawatt hours (MWh) becoming operational in the third quarter of 2023.

News Release

Offshore wind sector doubled down on tangible opportunities in 2023

31 January 2024

Despite supply chain headwinds and price pressures, the global offshore wind sector saw significant growth in its mature pipeline, as late-stage pipeline mergers & acquisitions, turbine orders, and project financial investment decisions (FIDs) saw record activity in 2023. This has boosted the sector’s momentum into 2024.

News Release

Power demand growth remains strong in Asia Pacific

31 January 2024

India, China and Southeast Asia will continue to be the three most important growth engines of power demand across the planet, says Alex Whitworth, Vice President, Head of Asia Pacific Power Research at Wood Mackenzie. With the Asia Pacific region seeing its share of global power demand surpass the 50% mark in 2023.

News Release

Energy storage’s meteoric rise breaks another record

19 March 2025

The U.S. energy storage market set a new record in 2024 with 12.3 gigawatts (GW) of installations across all segments, according to the latest U.S. Energy Storage Monitor report released today by the American Clean Power Association (ACP) and Wood Mackenzie. The report shows a total of 12,314 megawatts (MW) and 37,143 megawatt hours (MWh) deployed, representing increases of 33% and 34% respectively over 2023 numbers.

News Release

Solar adds more new capacity to the grid in 2024 than any energy technology in the past two decades

11 March 2025

The United States installed a record-breaking 50 gigawatts (GW) of new solar capacity in 2024, the largest single year of new capacity added to the grid by any energy technology in over two decades. According to the U.S. Solar Market Insight 2024 Year in Review report released today by the Solar Energy Industries Association (SEIA) and Wood Mackenzie, solar and storage account for 84% of all new electric generating capacity added to the grid last year.

News Release

Wood Mackenzie donates solar power system to domestic violence shelter in Puerto Rico

06 March 2025

To honor the upcoming International Women’s Day, Wood Mackenzie, in partnership with Let’s Share the Sun and other third parties, recently donated 24 solar panels and 2 batteries of storage to a shelter for victims of domestic violence in Puerto Rico. The fully installed 10.8 kW-DC system and 27.2 kWh battery will provide a significant portion of the shelter’s power needs.

News Release

South America to add 160 GW of solar PV capacity by 2034

05 March 2025

Wood Mackenzie's latest report on the South American solar PV market reveals that the region will add 160 GWdc of solar capacity between 2025 and 2034, driven by diversification efforts, growing power demand, and favourable system economics. The report "South America Solar PV Market Outlook 2025" provides a comprehensive analysis of the region's solar energy landscape, power sector dynamics, 10-year solar PV installation outlook, and policy impacts across key markets.

News Release

Wood Mackenzie launches Lens Power & Renewables

04 March 2025

Wood Mackenzie, the global insight business for renewables, energy, and natural resources, has launched Lens Power & Renewables, a new suite of products with interconnected data, analytics, and insights to navigate the energy transition.

News Release

Proposed US tariffs could increase onshore wind costs by up to 7%, says Wood Mackenzie

11 February 2025

New trade tariffs and increased import restrictions in the US onshore wind power sector could lead to higher overall costs, threatening project viability and potentially slowing growth in the industry, according to a recent report from Wood Mackenzie.

News Release

Republican control will shift US energy policy away from net zero, but sweeping agenda faces roadblocks

18 November 2024

Republican control in the US will move energy policy away from net zero targets, but President-elect Trump’s full agenda will face political and market opposition according to Wood Mackenzie analysis.

News Release

Increased protectionist measures in US solar market could expand domestic manufacturing, but increase overall costs

22 October 2024

New trade tariffs and increased import restrictions in the US solar supply chain would expand domestic manufacturing, but create a more expensive market, potentially slowing down the growing sector, according to a recent report from Wood Mackenzie.

News Release

Global competitiveness of renewable LCOE continues to accelerate

21 October 2024

In 2024, the global landscape for Levelised Cost of Electricity (LCOE) continues to reflect significant advances in renewable energy technologies, with wind and solar power leading the way, according to the latest LCOE reports from Wood Mackenzie.

News Release

US Grid-Scale Energy Storage Installations Surge, Setting New Q2 Record

01 October 2024

The U.S. energy storage market experienced significant growth in the second quarter, with the grid-scale segment leading the way at 2,773 MW and 9,982 MWh deployed.

News Release

H1 global wind turbine orders hit 91.2 GW, a 23% increase from year-ago levels

16 September 2024

H1 global wind turbine orders hit 91.2 GW, a 23% increase from year-ago levels

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Search results: 1988

Nuclear needs to be cost competitive with alternative power generation to enable net zero

Global floating solar to top 6GW threshold by 2031

US solar market registers best first quarter in industry history as supply chains stabilize and Inflation Reduction Act takes hold

US Distributed Energy Resource market to almost double by 2027

Australia leads global market for battery energy storage systems

India needs radical transformation to reach net zero emissions by 2070

Cumulative US community solar capacity expected to break 6 GW in 2023, despite interconnection and siting headwinds

Industry leaders to speak at Wood Mackenzie’s Hydrogen Conference

Solar installations in 2023 expected to exceed 30 GW for the first time in history

US renewables annual capacity additions to nearly triple in 10 years

APAC to invest US$3.3 trillion in power generation over next decade

7 Btpa of carbon capture needed to meet net zero by 2050

China Belt & Road Initiative brings in 128 GW installed power capacity in 10 years

COP28: Middle East could play a key role in decarbonising global economy

China leads global renewables race with record-breaking 230 GW installations in 2023

Competition increases in the residential solar-plus-storage battery market

US energy storage installations set new record in Q3 2023

Offshore wind sector doubled down on tangible opportunities in 2023

Power demand growth remains strong in Asia Pacific

Energy storage’s meteoric rise breaks another record

Solar adds more new capacity to the grid in 2024 than any energy technology in the past two decades

Wood Mackenzie donates solar power system to domestic violence shelter in Puerto Rico

South America to add 160 GW of solar PV capacity by 2034

Wood Mackenzie launches Lens Power & Renewables

Proposed US tariffs could increase onshore wind costs by up to 7%, says Wood Mackenzie

Republican control will shift US energy policy away from net zero, but sweeping agenda faces roadblocks

Increased protectionist measures in US solar market could expand domestic manufacturing, but increase overall costs

Global competitiveness of renewable LCOE continues to accelerate

US Grid-Scale Energy Storage Installations Surge, Setting New Q2 Record

H1 global wind turbine orders hit 91.2 GW, a 23% increase from year-ago levels

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