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Wood Mackenzie’s latest report shows global energy storage capacity could grow at a compound annual growth rate (CAGR) of 31%, recording 741 gigawatt-hours (GWh) of cumulative capacity by 2030.
Wood Mackenzie’s annual Energy Transition Outlook, released today, says the world must combine coronavirus recovery efforts with massive investments in renewable energy and clean infrastructure if it is to limit global warming to 2 degrees or lower.
Southeast Asia’s wind power sector requires at least US$14 billion of investments by 2030, says Wood Mackenzie. This is to support the 8.9 gigawatts (GW) of new wind power capacity that Wood Mackenzie expects to be added between 2020 and 2029.
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.
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.
The US solar market installed 3.5 gigawatts (GW) of new solar photovoltaic (PV) capacity in Q2 2020, a drop of 6% from Q1 installations. At the same time, utility-scale solar remained resilient despite the Covid-19 pandemic, representing 71% of all new solar capacity brought online in Q2.
According to Wood Mackenzie's Accelerated Energy Transition (AET) scenario, which sees global warming limited to 2.5 degrees (Celsius), the battery raw materials supply chain requires much more investment by 2030.
The Biden campaign has previously underlined the important role electric vehicles (EV) will play in reducing greenhouse gas emissions in the US. To encourage EV adoption, the campaign has three key targets: deploying 500,000 new public EV charging outlets, restoring the full EV tax credit, and developing a new fuel economy target.
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).
The outcome of the 2020 US presidential election will dictate the pace of decarbonisation for decades, according to new research from Wood Mackenzie.
Green hydrogen costs will fall by up to 64% by 2040, according to new research from Wood Mackenzie.
Onsite green hydrogen production cost is expected to halve by 2030, signalling a boost to South Korea’s hydrogen ambitions, says 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.
Over US$100 billion of investment in wind and solar power plants are expected to push the renewables share to 27% of Japan’s generation mix by 2030, exceeding the country’s target, says 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.
Wood Mackenzie’s latest report shows that global lithium-ion cell manufacturing capacity pipeline could rise fourfold to reach 1.3 terawatt-hour (TWh) in 2030 compared to 2019.
There were just over 2,000 electric trucks on US roads at the end of 2019. This stock is expected to grow to over 54,000 by 2025, according to new analysis from Wood Mackenzie.
China is expected to add 251 gigawatts (GW) of new wind capacity between 2020 and 2029, says Wood Mackenzie. The country’s wind power market could reach a cumulative grid connected capacity of 461GW by the end of the decade.
546 microgrids were installed in the United States during 2019, more than any previous year, according to new research from Wood Mackenzie.
General Motors (GM) has set an annual target for 1 million electric vehicle (EV) sales globally by the mid-2020s. Although the company will only meet half of that target by 2026, it is expected to hit 5 million in cumulative EV sales by 2030 according to new research from Wood Mackenzie.
The first quarter of 2020 saw nearly 14 GW of wind turbine capacity ordered globally. This is the second-highest first quarter on record and equates to an estimated $13.4 billion, according to new analysis from Wood Mackenzie.
Sunrun has agreed to acquire Vivint Solar in an all-stock transaction. The deal is valued at $3.2 billion including debt.
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.
Solar power systems nearing inverter end of life currently account for 5% of the global PV market. This number will grow to 16% - or 227GWDC of solar systems - by 2025, according to new research by 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.
China’s wind turbine original equipment manufacturers (OEMs) could have their gross profit margins halved due to subsidy cuts, says Wood Mackenzie.
According to new research from Wood Mackenzie, Australia is set to add 1.2 gigawatt-hour (GWh) of energy storage capacity in 2020, more than double the 499 MWh installed in 2019. This takes the country’s cumulative storage capacity at 2.7 GWh this year.
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.
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