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News Release
US energy storage market sets Q2 record for deployments
- 03 September 2020
According to Wood Mackenzie and the U.S. Energy Storage Association’s (ESA) latest 'US Energy Storage Monitor' report, 168 MW were deployed in Q2 2020. This is an increase of 72% quarter-over-quarter, 117% year-over-year and is the second-highest quarterly total ever seen, falling just behind Q4 2019 (186.4 MW).
News Release
Green hydrogen costs to fall by up to 64% by 2040
- 25 August 2020
Green hydrogen costs will fall by up to 64% by 2040, according to new research from Wood Mackenzie.
News Release
323 million electric vehicles will be on the roads by 2040
- 19 August 2020
Electric vehicle (EV) sales are expected to reach 45 million units per year by 2040, with a total global EV stock of 323 million, according to new research from Wood Mackenzie.
News Release
LFP to overtake NMC as dominant stationary storage chemistry by 2030
- 17 August 2020
Lithium-iron-phosphate (LFP) is poised to overtake lithium-manganese-cobalt-oxide (NMC) as the dominant stationary storage chemistry within the decade, growing from 10% of the market in 2015 to more than 30% in 2030, according to new analysis from Wood Mackenzie.
News Release
Renewable energy could reduce Asia Pacific LNG plant emissions by 8%
- 17 August 2020
Using renewable energy to power liquefied natural gas (LNG) plants in Asia Pacific could reduce emissions by about 8%, says Wood Mackenzie.
News Release
Record number of microgrids installed in US last year
- 22 July 2020
546 microgrids were installed in the United States during 2019, more than any previous year, according to new research from Wood Mackenzie.
News Release
Mexico, Central America and Caribbean power up with record wind capacity
- 18 June 2020
Mexico, Central America and the Caribbean saw a record 1,830 megawatts (MW) of new wind power capacity installed across the region in 2019 – a 126% year-on-year increase in additions, according to new research from Wood Mackenzie.
News Release
US solar market sets Q1 record but pandemic mutes Q2 outlook
- 11 June 2020
The U.S. solar market installed 3.6 gigawatts (GW) of new solar photovoltaic (PV) capacity in Q1 2020, representing its largest first quarter ever and 40% of all new electric generating capacity additions in the United States.
News Release
Bangladesh to double its fossil fuel imports in a decade
- 14 May 2020
Bangladesh is expected to double its fossil fuel imports to 32 million tonnes of oil equivalent (Mtoe) between 2020 and 2030, says Wood Mackenzie.
Comment
Petrobras acts to protect gas value chain as Brazil demand slumps
- 24 April 2020
Petrobras’ handling of the crisis it faced as Brazilian gas demand slumped earlier this month offers valuable lessons to integrated players, Mauro Chavez, head of Latin America Gas & LNG at global natural resources consultancy Wood Mackenzie, says.
News Release
Covid-19 lockdown hits global solar PV market
- 09 April 2020
The coronavirus pandemic will have a significant impact on the global solar PV market. Construction and development is slowing as countries around the world enforce unprecedented lockdowns. As the world economy faces severe economic disruption, Wood Mackenzie has downgraded its forecast for 2020 installations from 129.5 gigawatts (GW) to 106.4 GW, a reduction of 18%.
News Release
Global electric vehicle sales to drop 43% in 2020
- 08 April 2020
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.
News Release
$600bn to be spent on wind turbines globally by 2028
- 07 April 2020
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.
News Release
India’s renewables installation could fall by a fifth due to lockdown
- 06 April 2020
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.
News Release
Coronavirus could derail energy storage growth in 2020
- 01 April 2020
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%.
News Release
Coronavirus impact trims US behind-the-meter storage forecast by 31%
- 27 March 2020
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.
News Release
Flexible power grid crucial to meeting energy transition goals in 2020s
- 18 March 2020
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.
Comment
UK Budget - £500 million to support rapid electric vehicle charging hubs
- 11 March 2020
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.
News Release
Off-grid energy key to power growth in emerging markets
- 11 March 2020
Approximately $2.1 billion in cumulative disclosed corporate-level investment was deployed into off-grid energy access markets between 2010 and 2019.
News Release
Energy storage to accelerate global energy transition in 2020s
- 24 February 2020
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.
News Release
Solar power to become cheaper and more efficient in 2020s
- 04 February 2020
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.
Comment
India's 2020 energy outlook
- 23 January 2020
India's 2020 energy outlook
News Release
Cheaper electric cars could help Tesla hit targets by mid-2020s
- 09 January 2020
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.
News Release
China’s wind repowering market to boom from 2023
- 17 December 2019
According to a new report by Wood Mackenzie, China’s wind repowering market is expected to take off from 2023. More than 21 gigawatts (GW) (cumulative capacity) of China’s wind turbine fleet is expected to be repowered over the next 10 years (2019-2028).
News Release
Project delays and cancellations to dampen US microgrid growth through 2021
- 16 December 2019
Project cancellations and delays connecting planned projects to the electric grid will lead the US microgrid market to contract 17% from its 2018 peak by the end of this year, according to new research from Wood Mackenzie.
News Release
US storage industry to build on strong third quarter with response to power shutoffs
- 03 December 2019
Installers have already shared anecdotes about growing residential storage volumes in California, and Wood Mackenzie expects a large uptick early next year as marketing efforts for solar-plus-storage started earlier this year bear fruit.
Comment
European Investment Bank to cease funding fossil fuel projects
- 15 November 2019
The EIB's new financing criteria will make lending to gas projects very difficult. It highlights that gas is also increasingly in the spotlight of the climate debate.
News Release
Top three western wind turbine OEMs to control 60% of market by 2028
- 11 November 2019
After a decade of fragmentation, the top five global turbine OEMs are strengthening their hold on the industry. By 2028, they are expected to control three quarters of the sector.
News Release
Advanced lithium-ion technologies on track for record annual investment
- 01 November 2019
More than $350 million was invested in advanced lithium-ion technologies during the first half of 2019.
Comment
Total begins construction of third solar power plant in Japan
- 08 October 2019
Total Solar International has begun construction of Miyagi Osato Solar Park, a large-scale solar plant in Japan.

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