Global wind power market size increased from $71.6bn in 2010 to $96.4bn in 2018. During the 2019–2030 forecast period, significant capacity additions in the Asia-Pacific (APAC) region are expected to drive that market, increasing the market size to $124.6bn by 2030, according to GlobalData, a leading data and analytics company. The company’s latest report, ‘Wind […]
Research, Reports & Ratings
Wind and Solar Power Have Become Amazingly Affordable
In the midst of otherwise depressing developments in the progress of climate change, one bit of good news shines through: The economics of renewable energy have been improving fast — especially those of onshore wind and utility-scale solar power. A new analysis of the levelized cost of energy from Lazard, the company I work for, […]
Commentary: Understanding users is key to the evolution of the world’s energy systems
The choices made by individuals are having a significant effect on the evolution of the global energy system. Thanks to distributed renewables, users are no longer only consuming energy – they are also producing it. Shifts in consumer behaviour, such as a move toward electric vehicles, are also creating stresses and opportunities for power systems. […]
8 Countries (Besides the US) With Solar Under $25 per Megawatt-Hour
Around the world, solar power price records just keep on coming. One of the biggest U.S. solar stories of the summer was developer 8minute’s pricing record of $19.97 per megawatt-hour for a Los Angeles project. The project, which looks set to go ahead following initial union resistance, remains a relatively rare public example of sub-$25 […]
Saving water has become easier with the use of renewable energy sources
Washington: A research has found that the transition from coal to natural gas in the US electricity sector is reducing the industry’s water use. It is helping in saving water and contributing to reducing water scarcity. For every megawatt of electricity produced using natural gas instead of coal, the water withdrawn from rivers and groundwater […]
World needs to step up cooperation to meet challenge of energy transition and accelerate renewables deployment
Open trade and investment environments are vital to carry out necessary energy transition cost effectively Annual investment in renewables must increase by fivefold to achieve 1.5 C pathway according to IPCC Trade conflicts and protectionism risk increasing the cost of renewables after a global push which has made wind and solar energy more competitive than […]
BNEF analysis on cost figures for onshore wind and PV projects
New solar and onshore wind power plants have reached parity with average wholesale prices in California and parts of Europe. Their levelized costs in China are below the average regulated coal power price, according to BloombergNEF (BNEF). BNEF’s benchmark levelized cost figures for onshore wind and PV projects financed in the last six months are […]
Asia Poised to Become Dominant Market for Wind Energy
Wind energy could cover more than one third of global power needs in 2050 reducing global carbon emissions by a quarter, new IRENA report finds Beijing, China: Asia could grow its share of installed capacity for onshore wind from 230 Gigawatt (GW) in 2018 to over 2600 GW by 2050, a new report by the International Renewable Energy Agency […]
Mitsubishi Motors to Support Renewable Energy Study
Mitsubishi Motors Corporation participated in a joint study of renewable energy in the Sumba Island, Republic of Indonesia. The study is aiming at utilizing the energy by photovoltaic power generation, which is effective in remote islands where it is difficult to secure gasoline. To supply stable electric power generated by renewable energy, the study was […]
IEA releases new edition of global historical data series for all fuels, all sectors and energy balances
The IEA has just released the 2019 edition of the world’s most comprehensive series of energy databases and data services including World Energy Statistics and Balances, the full range of fuel information data services, and IEA Key World Energy Statistics. This annual release adds verified data for 2017 along with provisional data for 2018 for […]