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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.
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%.
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.
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%.
Approximately $2.1 billion in cumulative disclosed corporate-level investment was deployed into off-grid energy access markets between 2010 and 2019.
The next decade is set to deliver more of the same for solar PV, 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.
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.
An auction-triggered awakening in Poland and a growing confidence in developers' ability to comply with local content requirements in Russia led to a 17% wind power capacity increase QoQ in Eastern Europe and Russia, according to new research from Wood Mackenzie.
Global onshore wind O&M costs will reach nearly $15 billion in 2019. Of that number, 57% - or $8.5 billion – will be spent on unplanned repairs and correctives caused by component failures, according to new research by Wood Mackenzie Power & Renewables.
New research from global natural resources consultancy Wood Mackenzie indicates Asia-Pacific's offshore wind capacity will rise 20-fold to 43 GW in 2027.
Looking at behind-the-meter, Australia was the biggest residential storage market in the world in 2017, with a tripling of residential storage deployments over the previous year. High retail electricity rates and diminishing or expiring feed-in tariffs have encouraged residential solar customers to choose storage for self-consumption benefits. As a result, over the past few years, Australia has been the preferred testbed for new residential energy storage products, as several technology vendors have first introduced their residential product portfolios in the country.
Inflation Reduction Act and tariff pause provide market optimism following Q2 slowdown
Global wind power is expected to see an 1.9% increase of installed capacity Quarter on Quarter (QoQ), an equivalent of 25.6 gigawatts (GW), between 2022 and 2031 according to Wood Mackenzie, a Verisk business (Nasdaq: VRSK).
The levelised costs of electricity (LCOE) for utility solar and onshore wind in Asia Pacific were up 16% and 12% respectively since 2020, as equipment, construction costs and interest rates rose in the region. The trend is expected to reverse in 2023, but volatility risks including geopolitical tensions, trade policy and financing remain according to latest analysis from Wood Mackenzie.
The US community solar market installed a record-breaking 1.7 GWdc of capacity in 2024, a 35% increase from 2023, according to a new report released by Wood Mackenzie in collaboration with the Coalition for Community Solar Access (CCSA). However, with policy uncertainty at both national and state levels, long-term growth hangs in the balance.
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.
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 future of low-carbon hydrogen hinges on global policymakers introducing regulations and subsidies that focus on the carbon intensity of the hydrogen produced rather than its colour.
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.
A new report from Wood Mackenzie finds that despite surging power demand, the gas turbine market could experience "turbo lag" in the next 15 years due to manufacturing constraints, rising costs, and competition from renewables.
The Q1 U.S. wind market exceeded 2024’s pace, more than doubling activity with 2.1 gigawatts (GW) of installations—but regulatory uncertainty led to a significant pullback in wind turbine orders, according to the U.S. Wind Energy Monitor report released today by Wood Mackenzie and the American Clean Power Association (ACP).
Solar and storage developers face a sharp increase in equipment procurement costs from Q4 2025 onwards due to Chinese government policy changes and supply-side production cuts, which are bringing an end to the era of low prices that have characterized the market for the past 18 months, according to a new report from Wood Mackenzie.
With the US preparing for approximately 90 gigawatts (GW) of peak demand growth through 2030, gas and coal generation will only be able to meet about 37 GW of this growth.
EV chargers, demand response and the fight over National Grid’s gas hookups
Three hot topics for electric vehicles: when electric vehicles will become fully commercially competitive, how cities are transforming road transport, and EV infrastructure M&A activity.
A global car manufacturer engaged with Wood Mackenzie to extract additional value from car batteries through V1G and V2G power grid integration.
What's new in store? Get the highlights from some of our most popular insights across the entire natural resources value chain. This week, upstream cost curves, FID bonanza and US solar markets.
Fossil generation continued to dominate the growing US microgrid market in 2018.
Great investment opportunities lie in the global wind supply chains.
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