OSLO : A new set of factors beyond bidding price is gaining traction in global tenders to award licences for offshore wind farms and will determine the winners and losers in a highly competitive industry, a new report by energy research firm Wood Mackenzie shows. “The focus is now shifting to multiple criteria to determine […]
Wood Mackenzie: US Could be a 12 GWh Energy Storage Market in 2021
Nearly 12,000MWh of energy storage could be installed in the US during 2021 and the market will continue growing significantly over the next few years, according to research and analysis group Wood Mackenzie Power & Renewables. The forecast has been provided in Wood Mackenzie’s latest quarterly ‘US energy storage monitor’ report, which is published in […]
WoodMac on Green Hydrogen: It’s Going To Happen Faster Than Anyone Expects
Public and private commitments are catalyzing green hydrogen through its early development. Green hydrogen is expected to fall down the cost curve even faster than wind, solar and lithium-ion. The question is will the demand be in place? Green hydrogen is set to play a substantive role in the overall energy mix with its development […]
Macquarie, Siemens units create US distributed energy joint venture
Electricity generation is forecast to increasingly move away from traditional structures involving large fossil fuel-burning power plants, towards localized systems using renewable energy and battery storage, known as distributed energy NEW YORK: Units of Macquarie Group and Siemens AG are forming a venture named Calibrant Energy, that will invest in the emerging energy-as-a-service (EaaS) sector […]
WoodMac: Energy Sector Faces ‘Darwinian Challenge’ to Tame Climate Change
The world is on course for 2.8 to 3 degrees Celsius of warming as existing infrastructure weighs heavy and COVID-19 slows progress. The world is on course to sail past the recognized “safe” level of 2 degrees Celsius of warming to as much as 3 degrees Celsius, according to the latest Wood Mackenzie Energy Transition […]
Asia Pacific renewables could attract US$1tn of investments this decade – WoodMac
Solar and wind power represent a US$1 trillion investment opportunity in Asia Pacific this decade, equivalent to two-thirds of the region’s total power generation sector, as countries move away from fossil fuel generation in favour of greener alternatives. That is according to a new Wood Mackenzie report, which reveals the share of wind and […]
WoodMac: A New Battery Chemistry Will Lead the Stationary Energy Storage Market by 2030
Lithium-iron-phosphate batteries will rapidly rise in popularity as the market begins differentiating between EVs and stationary storage. Lithium-iron-phosphate (LFP) will become increasingly popular for stationary energy storage applications, overtaking lithium-manganese-cobalt-oxide (NMC) within a decade, Wood Mackenzie forecast in a new report. As demand from electric vehicles and the stationary storage market both skyrocket in this decade, evolving performance priorities […]
WoodMac: 54,000 Electric Trucks on US Roads by 2025
That’s a 27-fold increase over today’s fleet, and the expansion of charging infrastructure will be nearly as dramatic. There were just over 2,000 electric trucks on U.S. roads at the end of 2019. This stock is expected to grow to over 54,000 by 2025, according to a new analysis from Wood Mackenzie. Compared to passenger […]
WoodMac: Large-Scale Solar Holds Cost Edge Despite ITC Stepdown, Coronavirus Impacts
Corporate demand and state mandates are driving utility solar installations, but voluntary procurements based on pure economics continue to dominate. Voluntary procurement of utility solar remains the top driver of U.S. utility PV in development, according to Wood Mackenzie. WoodMac defines voluntary procurement as procurement based solely on the economic competitiveness of renewables against other […]
WoodMac: Solar and Storage Prices Falling Faster Than Expected Due to COVID-19
Weakness in the global markets for solar modules and batteries is pushing down U.S. system costs more rapidly than forecast. The fallout from the coronavirus pandemic and the looming threat of recession are expected to drive down pricing for front-of-the-meter solar and storage systems even faster than expected. Project construction delays and tightening consumer spending […]