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What are the biggest emissions trends to watch this year? James Whiteside, Wood Mackenzie Global Head of Multi-Commodity Research, and Amy Bowe, Wood Mackenzie Head of Carbon Research, see five key themes
As Biden’s inauguration approaches, Wood Mackenzie experts share how his administration could impact trade, climate change goals, and changes to the energy sector in Asia Pacific.
With hopes of vaccines setting a better course for 2021, this year will see policymakers and market participants focus on initial but substantive steps towards net-zero objectives.
Prime Minister Boris Johnson has announced the UK's new 10-point climate action plan.
South Korea becomes the latest Asian economy to announce its net-zero carbon emissions pledge.
The second quarter of 2020 saw more than 17 GW of wind turbine capacity ordered globally. This equates to an estimated $16 billion, according to new analysis from Wood Mackenzie.
China’s gas power plants are struggling to stay afloat as they face mounting pressure from lower tariffs and the ongoing trade war, says Wood Mackenzie.
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.
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).
Green hydrogen costs will fall by up to 64% by 2040, according to new research from Wood Mackenzie.
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.
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.
Using renewable energy to power liquefied natural gas (LNG) plants in Asia Pacific could reduce emissions by about 8%, says Wood Mackenzie.
546 microgrids were installed in the United States during 2019, more than any previous year, according to new research from Wood Mackenzie.
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 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.
Bangladesh is expected to double its fossil fuel imports to 32 million tonnes of oil equivalent (Mtoe) between 2020 and 2030, says Wood Mackenzie.
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.
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.
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.
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.
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%.
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.
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.
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.
Approximately $2.1 billion in cumulative disclosed corporate-level investment was deployed into off-grid energy access markets between 2010 and 2019.
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.
India's 2020 energy outlook
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.
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