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Potential low-carbon (green or blue) hydrogen demand from the global refining sector could reach 50 million tonnes per annum (Mtpa) by 2050, says Wood Mackenzie.
US President Joe Biden has a transformational goal: he wants the country to achieve net-zero emissions by 2050, building on the net-zero power sector he wants in place by 2035. Can the US meet this challenge? According to new research released today by global natural resources consultancy Wood Mackenzie, a Verisk business (Nasdaq: VRSK), the US is likely to struggle to achieve Biden’s ambitions. Technological limitations, policy design, market structures and even the United States’ political and constitutional foundations may hamper progress.
Wood Mackenzie Asia Pacific Head of Markets and Transitions Prakash Sharma responds to the recently released IPCC report.
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%.
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.
Is the Global Energy Transition on track? A new report by Wood Mackenzie, Thinking global energy transitions: the what, if, how and when, explores the forces shaping the energy transition, and pinpoints the sustainability tipping point – when the world shifts from the age of oil and gas to the age of power and renewables – will arrive by 2035.
Veritas Capital (“Veritas”), a leading investor at the intersection of technology and government, today announced that an affiliate of Veritas has completed the purchase of Wood Mackenzie from Verisk (Nasdaq: VRSK).
US commercial solar project acquisitions continue to attract investor attention as interest in ESG investing grows. Today’s buyers and sellers of commercial solar projects are contending with the opposing dynamics of higher interest rates and increasing power prices. These findings come from the Commercial Solar PV Project Acquisition Trends report released today by Wood Mackenzie, a Verisk business (Nasdaq: VRSK), and Open Energy Group (OEG), a technology-driven marketplace for renewable energy asset sales and project finance.
Cumulative global capex spend in the offshore wind sector is expected to hit US$1 trillion by 2031, according to a new report by Wood Mackenzie. However, investors will no longer only be competing on price alone.
Five key lessons from today's energy crisis on how to manage the shift to lower-carbon sources while strengthening energy security
Wood Mackenzie today delivered a comprehensive roadmap for the North Sea’s future to the OGTC, setting out the critical technologies needed to deliver an integrated net zero energy system on the UK Continental Shelf (UKCS), positioning the UK as a world-leader in the move to a low carbon world.
Wood Mackenzie analysts delved deeper into implications of Woodside's announced US$80 carbon price.
The US offshore wind industry is set to power up over the coming decade. New research from Wood Mackenzie shows that as the sector ramps up from near-zero today, it could deliver as much as 25 gigawatts (GW) in 2029, capturing almost half of the US market for new wind power installations.
We took a closer look at the impact of the UK government’s proposal to ban the sale of new petrol and diesel cars by 2040.
As one of the most-used petrochemicals in the world, ammonia offers a bevy of decarbonization and energy market opportunities, including the potential to provide 100 million tonnes (Mt) into the power sector by 2050 in a high-case scenario. However, without strong policy support, low-carbon ammonia may remain an untapped market, according to “Avoiding Pand-Ammonia” a new report from Wood Mackenzie.
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.
While hydrogen can be used in many sectors, its derivative, ammonia, has emerged as a key tool to provide flexible power generation and integrate variable renewables. Analysis by Wood Mackenzie shows that a 10% ammonia co-firing in global coal plants would translate to 200 million tonnes (Mt) of ammonia demand, a potential market of US$100 billion by 2050.
China’s renewables manufacturing has emerged from 2021 bigger and more competitive than ever before. Western markets are benefitting from trading with the IKEA of the energy transition, but balancing reliance on China’s technology providers with local interests is now a key political as well as environmental challenge, says Wood Mackenzie.
Following the military coup in Myanmar on Monday, February 1st, Wood Mackenzie and Verisk Maplecroft experts weigh in on what this means for the oil and gas industry.
Wood Mackenzie’s latest analysis shows over US$5 trillion of investments would be needed for China to reach its pathway for carbon-neutrality by 2060.
In a recently published report, Wood Mackenzie projects solar-plus-storage prices or levelised cost of electricity (LCOE) for both utility-scale and distributed commercial & industrial (C&I) segments to decline considerably over the next five years.
Wood Mackenzie announces the launch of the second edition of its Power & Renewables Asia Pacific (APAC) Virtual Conference on July 26 – 28.
As companies in the energy and natural resource sector struggle to find the balance between satisfying shareholder returns and meeting stakeholder low-carbon demands, new strategies are emerging that could be the catalyst to drive capital allocation decisions toward growth and closing valuation gaps, according to “Fuelling Change” a new Horizons report from Wood Mackenzie.
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.
BP confirmed today that it picked up over 40% stake in the Asian Renewable Energy Hub project to produce and export green hydrogen in Australia.
Minister for Trade and Industry Gan Kim Yong said today that Singapore plans to import around 30 per cent of its electricity from low-carbon sources by 2035.
Last week, Japan’s Ministry of Economy, Trade and Industry (METI) released a draft of its upcoming 6th Strategic Energy Plan which included major changes to the FY2030 power generation mix targets.
Low-carbon hydrogen could become a US$50 billion to US$90 billion export industry for Australia in 2050, says Wood Mackenzie.
On 22 September, China announced its ambition to be carbon-neutral by 2060. Wood Mackenzie experts weigh in on what this means.
The topic of environmental protection continues to feature heavily in the Two Sessions today. Wood Mackenzie experts share some initial thoughts.
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