Category: Mega Trends & Analysis

Global renewable energy targets in 2022

Approximately 90 per cent of global electricity needs have to be supplied by renewables by 2050 – up from around 26 per cent in 2019 – to put the world on a climate-safe pathway. Renewable power targets are halfway met globally but they are concentrated in few regions and technologies.

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Global Offshore Wind Outlook: Falling costs and supportive policies to drive strong global growth

Offshore wind is expected to experience strong growth globally over the next decade, with Asia and North America and Western Europe (NAWE) set to drive the segment’s expansion. Falling project costs and technology improvements continue to advance the offshore wind sector’s maturity, increasing the attractiveness of projects to developers in markets across the globe.

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Power Connections: Cross-border electricity trade gains traction in South Asia

A number of developments over the past several months indicate the strengthening of cross-border electricity trade (CBET) in South Asia, with India playing a pivotal role in it. CBET in South Asia is mostly being undertaken through the bilateral route and the share of the power exchanges is gradually inching up. CBET is crucial from the viewpoint of energy security in the South Asian region, especially in light of the current geo­political scenario.

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Decentralized Solar Systems Will Increase In Sub-Saharan Africa Amid Structural Power Market Challenges

Globally we expect to see over 1200GW of new solar capacity come online between 2022 and 2031 while the Sub Saharan Africa (SSA) region will represent just below 1% of this growth, despite exhibiting excellent solar potential. The MENA and SSA regions are forecasted to have 26.1GW and 8.6GW respectively come online by 2031 which represent 2.2% and 0.7% of global growth respectively.

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US Offshore Wind: Poised for rapid expansion to meet climate goals

The US is actively working towards its ambition of achieving 30 GW of offshore wind (OSW) capacity by 2030. The country’s OSW industry, which has been witnessing significant activity, particularly over the last couple of years, is expected to contribute significantly to US’ goal of achieving a carbon-free electricity sector by 2035. In fact, the 2030 OSW goal establishes a pathway to deploy 110 GW or more of OSW by 2050.

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Electric Buses in India: Government funding and policies driving growth

In India, deployment of electric buses has increased from zero in 2017 to 4,647 buses in 2021, reaching an estimated market size of around USD127 million. Around two-thirds of these are midi 9-metre buses and the remaining one-third are standard 12-metre buses. In terms of charging infrastructure, as of August 2022, state road transport corporations (SRTCs) have installed 2,826 public charging stations and oil marketing companies (OMCs) have set up 3,448 charging stations at their retail outlets.

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Southeast Asia’s Integrated Grid Progressing; Downside Risks For Potential Connection With Australia

Laos’ status as a key supplier of electricity for the Southeast Asian electricity demand will be cemented over the coming years, as developments for an integrated power grid progresses, increasing electricity trade in the region. Laos’ cross-border electricity grid is extensive, connecting its national grid to all five of its adjacent markets (Cambodia, Mainland China, Myanmar, Thailand and Vietnam). 

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Türkiye needs 40 GW solar and 30 GW wind power in 2030: Ember

By reaching slightly more than a third share in power generation, wind and solar can halve the share of imported fossil sources in power generation. Wind and solar will not only lower the power sector emissions and make the country closer to its net zero target, but will also lower the high costs of fossil fuel imports and can make a country with limited resources more independent. Wind and solar already saved Türkiye $7 billion between July 2021 and April 2022 when the gas prices were half of the current prices.

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Mexico’s PRODESEN 2022–36: Focuses on integrating new generation and storage projects

SENER recently published the Programa de Desarrollo del Sistema Eléctrico Nacional (PRODESEN) 2022–36 or the National Electric System Development Plan 2022–36, with an emphasis on DG, BES and smart grids. Under PRODESEN 2022–36, SENER plans to add over 56 GW of generation capacity, including 9 GW (16 per cent) of DG capacity, and 4.6 GW (8.2 per cent) of BES capacity. About 40 per cent of the total planned capacity will be based on clean energy sources.

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Latin America Offshore Wind Outlook: Key Emerging Markets

Wind power is expected to be a main driver of non-hydro renewables growth in the Latin American region over the next decade. The segment is forecast to add 34.7GW of capacity by 2031, growing at an average annual rate of 7.1% over the 10-year forecast period. However, the added capacity is expected to be nearly entirely from onshore projects as we expect only 850MW of offshore capacity to come online during the forecast period.

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Can Indonesia really achieve a net zero electricity sector by 2040?

This mini-briefing outlines some of the main highlights from the IEA’s analysis, to showcase why Indonesia should proudly and quickly set out a rapid electricity transition to bring power sector emissions to net zero by 2040 to accelerate the all sector net zero emissions by 2050, a decade earlier than the government target. Accelerating the transition brings more benefits to the country, from energy security to new job opportunities.

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Renewable energy outlook for South East Asia

Southeast Asia stands at a crossroads. Either it can continue its reliance on fossil fuels – more of which are coming from non-indigenous sources, thereby increasing exposure to volatile, and increasingly expensive, global commodity markets – or the region can utilise the ample, affordable and indigenous local renewable energy resource in an energy transition pathway.

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Inflation Reduction Act to boost US solar deployment by 62 GW

The US solar industry installed 4.6 gigawatts-direct current (GWdc) of capacity in the second quarter of 2022, a 12% decrease from Q2 2021 and a 12% increase from Q1 2022. Across the solar industry, second quarter volumes would have been higher if not for supply chain constraints and the industry-wide slowdown from March through June, caused by the initiation of the anticircumvention investigation.

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East Coast States To Drive Near-Term US Offshore Wind Development

Activity in the US offshore wind industry to remain concentrated on the eastern seaboard in the near-term with the first utility-scale projects scheduled for completion in 2023. Newly announced lease areas from the Bureau of Ocean Energy Management present growth opportunities on the west coast toward the end of the forecast period, particularly for the floating wind technology segment. In the Gulf of Mexico, BOEM is seeking comments on two potential wind areas off the coast of Texas and Louisiana.

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UAE’s DEWA Unveils New Smart Grid Strategy: A transition towards clean energy

DEWA recently updated the smart grid strategy to move ahead with the medium- and long-term objectives under the latest Smart Grid Strategy 2021-2035, which envisages investments to the tune of AED7 billion. The new plan also supports the Dubai Clean Energy Strategy 2050 and the Dubai Net Zero Emissions Strategy 2050 to provide 100 per cent of the energy production capacity from clean energy sources by 2050.

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Record solar generation helps reduce European gas imports: Ember

The summer of 2022 is a clear indicator of the importance of solar energy in Europe’s power mix. While the recent records are clearly positive, the EU needs to make an even bigger push towards 2030, reducing permitting barriers, and increasing funding and solar deployment speeds. This is essential not only for climate targets but, perhaps most of all, for the security of the continent. Europe is breaking solar records every year, with the pace of solar deployment accelerating.

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Cleaning Up: Oil majors adapt to the new renewables’ reality

With cost economics and international pr­e­ssure on climate mitigation driving clean energy growth, companies in the oil and gas sector are also redefining their expansion strategies and aligning them with the new reality. These companies have massive infrastructure in the areas of offshore and onshore exploration, refineries, pipe­lines and transport systems, and have en­ergy-intensive operations. Thus, they are ideal sites for clean energy integrati­on.

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Pathways to Achieve 100% Clean Power in the US by 2035

Wind and solar provide most (60%–80%) of the generation in the least-cost electricity mix in all the main scenarios. Nuclear capacity more than doubles in the Constrained scenario, reaching 27% of generation, while limited growth in the other three core scenarios results in a contribution of 9%–12%, largely from the existing fleet. The overall generation capacity grows to roughly three times the 2020 level by 2035, including a combined 2 TW of wind and solar.

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Holistic Network Design: A key step for achieving 50 GW offshore wind in the UK by 2030 

In July 2022, the country’s electricity system operator, National Grid Electricity System Operator (NGESO), released its ‘Pathway to 2030’ Holistic Network Design (HND). This is part of the government’s Offshore Transmission Network Review (OTNR) efforts to find appropriate solutions in the medium term. The HND sets out a single, integrated design to support the transmission of large-scale offshore wind generation to load centres across Great Britain.

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Hydrogen Development and Collaboration between Saudi Arabia and Germany

Saudi Arabia’s Energy Minister and Germany’s Minister for Economic Affairs and Energy signed a Memorandum of Understanding (MoU) in March 2021 to encourage bilateral cooperation in the production, processing, application, and transportation of renewable and low-carbon hydrogen. These efforts should help Saudi Arabia develop a hydrogen-based energy sector, promote the use of German technologies, and facilitate the development of a hydrogen market in Germany and elsewhere.

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