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The North America and Europe workplace EV charging markets could surpass a combined 500,000 charger units in 2022 and reach over 1.25 million by 2025, according to new research from Wood Mackenzie.
New solar installations within the European market will double in the next 3 years to reach a level of approximately 20GW/year. Total installed capacity in the region will surpass 250GW by 2024, according to new research from Wood Mackenzie Power & Renewables.
New research from Wood Mackenzie finds that the U.S. energy storage market broke its previous record for megawatts deployed in a single quarter in Q1 2019.
The U.S. energy storage market nearly doubled in 2018 and is expected to double again in 2019. According to Wood Mackenzie Power & Renewables and the Energy Storage Association’s (ESA) freshly released U.S. Energy Storage Monitor 2018 Year-in-Review, 777 megawatt-hours of grid-connected energy st...
The results of this year's U.S. mid-term elections may open a path for higher renewable portfolio standards and gigawatts of solar and wind deployments, according to a new analysis from Wood Mackenzie Power & Renewables.
President Prabowo’s five-year term as the president of Indonesia has just begun. Little has been mentioned about his future energy policy direction, but energy security and affordability will surely remain at the top of his administration’s agenda. However, he must also balance these priorities against Indonesia’s pledge of achieving net zero by 2060. Which won’t be easy. Based on Wood Mackenzie…
Equinor has acquired a 9.8% equity stake in Ørsted and will receive the same share of votes. Equinor’s holding has a market value of around US$2.5 billion and makes it the second largest shareholder in Ørsted. The Danish State continues to hold 50.15% of the company’s equity and will remain the largest shareholder through its controlling stake. This is an intriguing play by Equinor that provides a…
After a contentious campaign, Andrés Manuel López Obrador has won the presidency. Now, the energy industry is trying to determine the incoming administration’s strategic priorities and the implications for Mexico’s energy reforms and its upstream, downstream, gas and power markets.
China's introduction of the '2+26' cities policy earlier this year calls for restricted use of coal for both residential heating and industrial purposes. This has significant ramifications for the Chinese winter season where demand is traditionally high. As an alternative to coal, gas demand could rise by 23 bcm this year compared to previous winters. Facing the most severe shortages is northern China, particularly Beijing, Tianjin and Hebei (abbreviated as BTH), where demand is highly seasonal. This region will make up half or 10 bcm of the incremental winter gas demand in 2017.
Solar PV will become the most cost-competitive technology in Latin America from 2023, according to Wood Mackenzie’s latest research report, ‘Latin America levelized cost of electricity (LCOE)’ which examines the power technology and generation landscape across the region to 2050. Solar will also displace onshore wind, currently the most attractive renewable energy source in Brazil, by 2025.
According to the U.S. Solar Market Insight 2022 Year in Review released today by the Solar Energy Industries Association (SEIA) and Wood Mackenzie, utility-scale installations fell by 31% year-over-year to 11.8 GW, the sector’s lowest total since before the COVID-19 pandemic.
Despite supply chain headwinds and price pressures, the global offshore wind sector saw significant growth in its mature pipeline, as late-stage pipeline mergers & acquisitions, turbine orders, and project financial investment decisions (FIDs) saw record activity in 2023. This has boosted the sector’s momentum into 2024.
A five-year delay to the energy transition could see the global average temperature rise to 3°C above pre-industrial levels.
The US energy storage market shattered previous records for deployment across all segments in the final quarter of 2023, with 4,236 megawatts (MW) installed over the period, a 100% increase from Q3 according to a new report released today.
Plummeting Utility PV solar costs beat coal power to emerge as the cheapest power source in the region
How would the Western Interconnection region cope in both normal daily operations as well as various stress scenarios, and what would it take to push it over the edge? Wood Mackenzie was brought in to identify the risks and recommend options to mitigate these threats.
A new variation on DC-coupled system architecture is making DC-coupling attractive for FTM applications for the first time
Oil and gas Majors claim 15 percent of the global oil and gas market. Matching this scale in wind and solar would require investment of over US$200 billion. While achievable, this means the Majors need to either develop or buy a lot of renewable energy projects.
Policies and technology build positive momentum for global offshore wind
As they begin to adapt their portfolios for the energy transition, companies will begin concentrating on low-cost resources, with high-carbon and high-cost assets, like oil sands, being sold down.
U.S. residential solar market sets new record in Q3 2019. Download the free executive summary from Wood Mackenzie and SEIA.
The forces shaping current tax equity transactions – increasing competition for a limited resource, barriers to entry for new suppliers, and strong investor preferences – have always been there, but 2020 has exacerbated them.
U.S. solar soars to new heights. Wood Mackenzie Power & Renewables forecast solar installations to double by 2023.
Three main reasons why the economic slowdown in China in 2019 is different from 2008. And what it means for global commodity markets.
Wind and solar energy are poised to radically reshape the energy market over the coming decades, presenting a threat to legacy oil and gas operations, but also an opportunity to diversify and future-proof portfolios.The Majors are starting to rethink their strategies. But how fast and to what extent will the shift to renewable energy unfold?
The start of 2020 has already seen significant momentum around electrification and grid edge innovation. However, challenges lie ahead due to the pandemic.
Will 2020 provide a respite for battery raw materials after a year of falling electric vehicle demand, weak prices and oversupply?
As 2019 ended, I visited clients in Tokyo, Seoul and Taipei and was struck by how rapidly concern over emissions has escalated and is now driving energy policy change. I believe this trend could accelerate in 2020, with important implications for companies and the fuel mix across the region.
President Trump's energy dominance, looming trade wars and an AI boom reshape this year's US power outlook
In a new report, we look at China’s electrolyser market and explore its potential to redefine hydrogen production by driving down costs
How likely is a no-deal Brexit and what would it mean for the UK offshore wind power industry? Get the latest analysis from our offshore wind team.
Principal Economist Peter Martin’s 2000-word report “Global spread of Covid-19 derailing the world economy” examines the impact of coronavirus on the world economy. Get the highlights of Peter’s research here or purchase the full report for a more in-depth discussion.
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