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South Korea becomes the latest Asian economy to announce its net-zero carbon emissions pledge.
Wood Mackenzie’s latest report shows that the power generation sector in Asia Pacific could attract US$1.5 trillion worth of investments over the decade ending 2030.
Using renewable energy to power liquefied natural gas (LNG) plants in Asia Pacific could reduce emissions by about 8%, says Wood Mackenzie.
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.
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.
China accounted for 65% of global wind capacity in 2023, which pushed four Chinese wind turbine original equipment manufacturers (OEM) into the top five global rankings, a first for the sector. With a record of 16.3 gigawatts (GW) capacity installed, Goldwind maintained the leading position for the second consecutive year.
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.
Wood Mackenzie’s latest report shows most markets in Asia Pacific can expect to see cheaper levelised cost of electricity (LCOE) for renewables compared to coal by 2030.
Total announced today its partnership with Adani Group which includes two LNG terminals, Dhamra in East India and potentially Mundra in the West, as well as Adani Gas Limited, one of the 4 main distributors of city gas in India of which Adani holds 74.8% and of which Total will acquire 37.4%.
India has emerged as the market leader with the lowest renewable energy cost in Asia Pacific, new research from Wood Mackenzie found.
Following PM Scott Morrison's win in the recent 2019 Australia election, Wood Mackenzie and Verisk Maplecroft analysts share their thoughts.
India's first east coast regas project, Ennore LNG terminal, was commissioned yesterday by Indian Oil Corporation (IOCL). Wood Mackenzie's senior analyst Kaushik Chatterjee shares the significance of this project and how this marks the beginning of India doubling its regas capacity to 56.5 million metric tonnes per annum (mmtpa) by 2025.
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.
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.
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.
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.
Following the 7.4-magnitude earthquake reported off Fukushima, Japan, Wood Mackenzie senior analyst Yamato Kawamata gives an overview of the impact on the power sector.
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.
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.
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.
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.
India’s renewables target of 175 GW capacity (100 GW of solar and 75 GW of wind) by 2022 is an ambitious endeavour. Even with significant cost declines, Wood Mackenzie expects about 76% of the target to be met by 2022 and this would still be a noteworthy achievement. Wood Mackenzie's solar analyst Rishab Shrestha explains why.
Historically, coal has played a key role in meeting Asia's growing power demand. However environmental concerns has led to more stringent regulations and commitments towards tighter emission controls globally. Increasingly over the last year, financing institutions (mostly export credit agencies (ECAs) in OECD countries and European banks) have announced plans to stop investing in coal power projects. This could impact Asia since we expect growth in power demand through to 2035, and this calls for new power capacity, including coal-fired ones.
Wood Mackenzie announces the launch of the second edition of its Power & Renewables Asia Pacific (APAC) Virtual Conference on July 26 – 28.
Long-duration storage energy (LDES) projects around the world have attracted more than US $58 billion in commitments made by governments and companies since 2019. If all these projects went forward, it would lead to the installation of 57 gigawatts (GW) of LDES – the equivalent of three times the global energy-storage capacity deployed in 2022, according to analysis from Wood Mackenzie.
China’s solar exports grew 64% to US$52 billion in 2022 despite global trade tensions, according to latest analysis 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.
The top 10 global solar photovoltaic (PV) inverter vendors accounted for 86% of market share in 2022, increasing by 4% year-over-year since 2021, according to latest analysis by Wood Mackenzie, a global insight business for renewables, energy and natural resources.
The global Battery Energy Storage Systems integrator market has grown increasingly competitive in 2022, with the top five global system integrators accounting for 62% of overall BESS shipments.
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