Category: Mega Trends & Analysis

Integrating OSW: PJM releases study assessing onshore transmission needs

The US has set an ambitious target of achieving 30 GW of offshore wind (OSW) power by 2030 to support energy transition. Given the huge task of building this capacity almost from scratch, the federal government is supporting the sector’s development through several measures. Various states, particularly on the East Coast, have also set individual OSW targets to meet their long-term renewable energy (RE) goals and have engaged in large-scale OSW procurements.

Read More

European solar PV market outlook 2021

By 2030, we expect more than 124 GW of gas, coal and nuclear capacity to be displaced across the continent, with most EU states looking to increase their use of solar power. With Germany and Spain leading the charge, we see solar photovoltaic (PV) technology generating 20% of all power in Europe by 2050. Solar PV installation is likely to see a compound annual growth rate of 10 per cent through the end of the decade.

Read More

Global EV sales witness strong growth

The global fleet of four-wheeled road vehicles continues to rise and currently stands at close to 1.5 billion vehicles. More than 50 million cars, trucks and buses were added to the global fleet between 2019 and mid-2021. The global fleet of two- and three-wheelers is almost as big, exceeding one billion. China, India and countries in Southeast Asia are by far the largest markets for two- and three-wheelers globally.

Read More

Five trends reshaping European power markets

Price volatility is reaching new heights as a result of the uncertain output of renewable assets and a tight supply-and-demand balance in the European power system. Navigating this next normal will be a key challenge for utilities, traders, and large power consumers, and that highlights the importance of developing resilient power-asset portfolios and managing risk. The European power market is undergoing major changes. Five trends underpin these developments. 

Read More

Sunny days ahead: Southeast Asia’s solar market is poised for strong growth

Important solar markets in the region with large installed solar capacities after Vietnam are Thailand, Malaysia, and the Philippines with 2,988 MW, 1,493 MW and 1,048 MW of installed capacities respectively. In addition, Singapore (329 MW) and Indonesia (172 MW) are emerging as other attractive destinations for solar investments with many large and small projects under development.

Read More

US Solar Power Capacity To Maintain Strong Growth Despite Short-Term Risks

We have once again revised up our growth forecasts for the US solar sector, with total solar capacity now set to increase from 89.9GW in year-end 2020 to 241.2GW in 2030 – a 145% increase over the coming decade. Last quarter, we were forecasting the solar sector to reach 220.1GW capacity by the end of our 10-year forecast. Following this latest upwards revision, we now forecast solar power will account for 9.0% of the US power generation mix in 2030 – up from a 3.3% share in 2020.

Read More

Are oil and gas companies serious about the renewable energy transition? Here’s what the evidence says.

Citizen protests in many parts of the world indicate that public sentiment is rapidly turning against polluting energy sources. Public and private investors alike are pulling money out of fossil fuel companies to avoid the risk of stranded assets. What’s more, renewable electricity generation is now cheaper than both existing and new fossil fuel-based power. So for any fossil fuel company that wants to live, a reorientation toward renewable energy seems a logical way forward, right?

Read More

Charting a pathway: Decarbonizing the U.S. power sector by 2035

In April 2021, the United States submitted its updated nationally determined contribution (NDC). The NDC set an economy-wide target of reducing net greenhouse gas (GHG) emissions by 50%–52% below 2005 levels—in 2030 and included a goal of a 100% carbon-free power by 2035. Meeting these ambitious targets will require a transformational change to how power is generated in the U.S., and a rapid transition to low carbon and carbon-free resources.

Read More

The German model for a green hydrogen economy

Since 2020, Germany’s drive to enhance hydrogen production and its supply capacity has progressed well. Many other nations are also working towards a similar objective. Yet, a continued push may be required to establish a robust hydrogen network within all these countries. The German hydrogen strategy provides several insights for other countries to establish collaborations, wh­i­ch will be key to ensuring long-term security of green hydrogen energy supply.

Read More

Deployment Activities Dominate Solar Jobs in Europe

In 2020, 357,000 full-time equivalent jobs (FTEs) are employed in the EU solar sector. 150,000 FTEs, 42% of the total, are direct jobs, while 207,000 are indirect jobs. The great majority of jobs (80%) are associated with solar deployment activities. Operation & Maintenance jobs are 10% of the total, with the remaining share belonging to Manufacturing, at 6%, and Decommissioning & Recycling, at 4%.

Read More

Global Power Consumption Growth to be Dominated by Asia and New Technologies

We expect that the Asia region will see its share of global power consumption rise most significantly from 52.5% over 2021 to 56.7% by 2030, with growth led by its many vast emerging economies. We highlight that China, India, and Indonesia will all see a dramatic rise in electricity demand from a combination of strong demographic and macroeconomic fundamentals as well as rapidly developing industrial activity.

Read More

European Utilities Lead the Way in Digital Innovation

As power utilities face pressure from regulators and investors to decarbonize, digitalization has become a central element of their strategies. Utilities use digital technologies and workforce innovation to improve operating costs, find new revenue streams, enhance safety, and support net-zero goals. Popular technologies include digital twins of power plants, drones for grid inspections, and artificial intelligence for energy management.

Read More

Indonesian Solar Power Set For Stronger Growth

We have revised up our growth forecasts for Indonesia’s solar sector and now expect the market to add a net capacity of over 1GW over the coming decade. In line with our initial expectations, the latest Electricity Supply Procurement Plan (RUPTL 2021-2030), which was approved in early October 2021, highlights a notable increase in focus for renewable projects over the coming decade, with the most prominent change in solar.

Read More

Key Hydropower Projects To Make Tanzania And Zambia Net Exporters Of Electricity

Tanzania will become a net exporter of electricity over the near-medium term as its power generation will grow rapidly following the completion of the 2.1GW JNHPP in 2023. The completion of the Kafue Gorge Lower hydroelectric project will also make Zambia a net exporter of electricity through the medium term, boosting access to electricity and driving up overall consumption.

Read More

United States Ranks First in Renewable Energy Country Attractive Index

Large-scale solar installation will exceed wind power installation in the US for the first time in 2022, predicts the Energy Information Administration (EIA). With government support diminishing for onshore wind power, utility solar capacity installation is expected to dwarf wind with 16GW vs. 6GW. In 2021, the EIA expects new wind installation to narrowly edge solar by 18GW to 16GW. With solar installation accelerating, the US passed 100GW of total installed capacity in the first quarter of this year.

Read More

Energy Sector Roadmap for Carbon Neutrality in China

At the United Nations General Assembly in September 2020, China’s president announced that the country aims to have CO2 emissions peak before 2030 and to achieve carbon neutrality before 2060. This represents a significant stepping- up of the country’s climate ambitions. Previously, China’s nationally determined contribution (NDC) under the 2015 Paris Agreement aimed to achieve a peak in CO2 emissions by “around 2030 and making best efforts to peak early” but did not set a long-term target or goal.

Read More

Offshore wind to green hydrogen in Europe: Key takeaways for US

It must be recognized that the US offshore wind industry is at a much earlier stage of development than the European industry. The output from the initial US wind farms will be fully needed for electricity production that displaces fossil fuel generation. Green hydrogen is a key component of Europe’s deep decarbonization strategy for sectors where electrification is technologically unfeasible.

Read More
Loading