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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).
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.
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 analysis shows over US$5 trillion of investments would be needed for China to reach its pathway for carbon-neutrality by 2060.
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.
The global solar industry has experienced tremendous growth in the past decade as the annual demand for solar rose year after year while the cost of solar declined significantly. In the 2020s, solar module costs will continue to fall, albeit at a much slower rate. Instead, improvement in module efficiency and power class will propel the declining capex trend forward and ultimately lower the solar levelised cost of energy (LCOE), new research from Wood Mackenzie found.
As global solar PV markets continue to weather the challenges posed by the coronavirus pandemic, solar PV installations are expected to hit 115 GWdc this year, according to Wood Mackenzie’s latest quarterly market outlook. This is up 5% from the total installed globally in 2019.
South Korea becomes the latest Asian economy to announce its net-zero carbon emissions pledge.
Prime Minister Boris Johnson has announced the UK's new 10-point climate action plan.
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.
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.
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
Australia needs an ambitious long-term Renewable Energy Target (RET) policy to unlock future investments, 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.
Floating offshore could be the next frontier in wind power development in Asia Pacific, says Wood Mackenzie.
Wood Mackenzie’s latest scenario report reveals that a significant increase in carbon pricing is needed to achieve the goals of limiting the rise in global temperatures to within 1.5 degrees Celsius.
Wood Mackenzie’s latest report shows that the global offshore wind operations and maintenance (O&M) market is expected to grow 16% annually to reach US$12 billion (€10 billion) by 2029.
Government funding and zero-emission vehicle regulations are strong drivers for commercial electric vehicle (EV) adoption in every region thus far, therefore reducing the primary barrier to commercial EV adoption: cost. This policy support will see the annual market value of electric bus and truck charging outlets pass the $200 billion mark by 2045, according to Wood Mackenzie.
Up to the mid-2020s, approximately 70% of wind and solar development activity will be supported by auctions. However, data from across Europe highlights that market-level dynamics are shaping the approach of would-be developers. As such, auctions alone will not be enough to deliver much-needed capacity, according to Wood Mackenzie.
If the world acts decisively to limit global warming to 2°C by 2050, the scale of change will revolutionise the energy industry. Progressive electrification will squeeze the most polluting hydrocarbons out of the energy mix, nearly eliminating their markets. Oil demand will shrink, and with it, so will the power of major oil producers. Gas demand will remain resilient, but business models will need to evolve.
On 19 April, Australian PM Scott Morrison's commented on the country's road to net-zero emissions.
The UK government and the country’s oil and gas sector recently agreed a deal to leverage the upstream industry's capabilities, accelerate the energy transition and help the North Sea reach net zero by 2050.
According to Wood Mackenzie and the U.S. Energy Storage Association’s (ESA) latest ‘US Energy Storage Monitor’ report, 910 megawatt-hours (MWh) of new energy storage systems were brought online in Q1 2021. This is an increase of 252% over Q1 of last year, making it the biggest Q1 so far for the US storage market.
The US solar market surpassed 100 gigawatts (GWdc) of installed electric generating capacity, doubling the size of the industry over the last 3.5 years, according to the US Solar Market Insight Q2 2021 report, released today by the Solar Energy Industries Association (SEIA) and Wood Mackenzie.
South Korea could be more ambitious with its 9th Basic Plan’s 2030 renewables capacity target, according to research by Wood Mackenzie.
Japan is unlikely to reach a 46% reduction in emissions by 2030 compared to 2013 levels, according to research by Wood Mackenzie.
Wood Mackenzie, the leading provider of commercial intelligence for the world’s natural resources sector, today welcomes Quinbrook Infrastructure Partners as a development partner for the industry-leading Lens decision intelligence platform.
Achieving the 2°C goal of the Paris Agreement will require more than simply avoiding carbon. To cap global warming at 1.5°C or even 2°C, carbon removal will be essential. Research from global natural resources consultancy Wood Mackenzie, a Verisk business (Nasdaq:VRSK), shows the key to effective large-scale carbon removal is unlocking potential economies of scale through basin-wide carbon capture and storage (CCS), effectively providing a community answer to a global problem.
Battery electric vehicles (BEVs) will be the dominant form of road transport by 2050, accounting for 56% of all vehicle sales that year, according to new research from Wood Mackenzie, a Verisk business (Nasdaq:VRSK).
Asia Pacific solar photovoltaic (PV) capacity could triple to 1,500 gigawatts (GW) by 2030, says Wood Mackenzie, a Verisk business (Nasdaq:VRSK).
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