This is the season for looking to the future, and for the final Energy Pulse of 2024 I have collected 10 predictions from Wood Mackenzie analysts for the year ahead. The predictions for 2024 that I presented a year ago had quite a good hit rate. Some were spot-on: we were right about the increased … Continue reading Predictions for energy and natural resources in 2025
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U.S. photovoltaic (PV) production resumes for first time since 2019, as solar module manufacturing sets record in Q3.
The United States added a record-breaking 9.3 gigawatts (GW) of new solar module manufacturing capacity in Q3 2024. At full capacity, U.S. solar module factories can produce enough to meet nearly all demand for solar in the United States. According to the U.S. Solar Market Insight Q4 2024 report released today by the Solar Energy … Continue reading U.S. photovoltaic (PV) production resumes for first time since 2019, as solar module manufacturing sets record in Q3.
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Wood Mackenzie: photovoltaic solar industry sets manufacturing record with US silicon cells boost
Solar cell manufacturing resumed in the third quarter (Q3) as silicon cells were manufactured in the United States for the first time since 2019, marking a pivotal moment for America’s surging solar manufacturing sector, according to Wood Mackenzie. Picture used for illustrative purpose. The United States added a record-breaking 9.3 gigawatts (GW) of new solar … Continue reading Wood Mackenzie: photovoltaic solar industry sets manufacturing record with US silicon cells boost
Continue readingWhat does a second Trump term mean for US photovoltaic solar?
A second Donald Trump presidency will have a big impact on the energy transition. The Biden administration’s landmark climate bill the Inflation Reduction Act had incentives for domestic solar manufacturing and installations. Tearing up the act could slow down the exponential growth in the sector. Sylvia Martinez is a principal analyst at Wood Mackenzie. She’s … Continue reading What does a second Trump term mean for US photovoltaic solar?
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Will Donald Trump slow down the expansion of photovoltaic (PV)?
The research firm Wood Mackenzie published an analysis on what the impact of the Republican victory should be. The renewable capacity of the United States will grow by more than 240 GW by 2030.Renewable energy technologies in the United States will remain competitive for the next four years despite the uncertainties generated by Donald Trump’s … Continue reading Will Donald Trump slow down the expansion of photovoltaic (PV)?
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Global floating photovoltaic installation to reach 77 GW by 2033, says Wood Mackenzie
According to Wood Mackenzie’s Floating Photovoltaics (PV) Market Overview 2024 report, global floating photovoltaic (FPV) installed capacity is expected to grow to 77 GW (DC) by 2033, of which the Asia-Pacific (APAC) region will account for 81% of the share, reaching 57 GW (DC). Growth in the Asia Pacific region is mainly driven by India, … Continue reading Global floating photovoltaic installation to reach 77 GW by 2033, says Wood Mackenzie
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The impact of Republican control on US energy policy and the IRA
We expect renewables to remain competitive, and while protectionism will rise, a full repeal of Inflation Reduction Act (IRA) is unlikely. Following the US election, our experts from across the energy sector have worked to produce a cross-commodity report – ‘A second Trump administration Part 2: A deep dive into energy and commodities‘ – outlining … Continue reading The impact of Republican control on US energy policy and the IRA
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Global LCOE (levelized cost of electricity) competitiveness of wind power and photovoltaic (PV) is increasing
The cost competitiveness of these technologies varies significantly across regions, but overall, renewables are on track to overtake traditional fossil fuel sources. Wood Mackenzie has released five regional Levelised Cost of Electricity (LCOE) reports for 2024, which provide an in-depth analysis of the evolving electricity cost landscape across global markets. These reports, covering Asia Pacific … Continue reading Global LCOE (levelized cost of electricity) competitiveness of wind power and photovoltaic (PV) is increasing
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What could further trade actions mean for the US photovoltaic supply chain?
Protectionism should help photovoltaic domestic manufacturing, but it could come at a cost for buyers. Our recent report leveraging our solar supply chain data explores the implications. While the US solar manufacturing sector has expanded substantially in the last few years, the success of the industry remains precarious. With Chinese manufacturers dominating the market and … Continue reading What could further trade actions mean for the US photovoltaic supply chain?
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US Grid-Scale Energy Storage Installations Surge, Setting New Q2 Record
The U.S. energy storage market set a Q2 record in 2024, with the grid-scale segment leading the way at 2,773 MW and 9,982 MWh deployed. The U.S. energy storage market experienced significant growth in the second quarter, with the grid-scale segment leading the way at 2,773 MW and 9,982 MWh deployed. According to the American … Continue reading US Grid-Scale Energy Storage Installations Surge, Setting New Q2 Record
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Central America expects growth of up to 25% in photovoltaic (PV) energy by 2025
Panama, Costa Rica and El Salvador are entities in which a dynamism in photovoltaics (PV) is awakening due to the high prices of other energy sources.The photovoltaic (PV) industry in Latin America could register a growth of between 10 and 15% on average per country during 2025, similar to this year, according to Sergio Rodríguez, … Continue reading Central America expects growth of up to 25% in photovoltaic (PV) energy by 2025
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Chinese companies dominate Wood Mackenzie’s solar photovoltaic (PV) module manufacturer rankings
These manufacturers will have enough module manufacturing capacity by 2027 to satisfy global demand twice. Nine out of the top 12 manufacturers in Wood Mackenzie’s new global solar PV module manufacturer rankings are Chinese companies, according to a report published today, where both fifth and tenth place were awarded to two companies each due to … Continue reading Chinese companies dominate Wood Mackenzie’s solar photovoltaic (PV) module manufacturer rankings
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China’s renewable energy exports grow 35% between 2019-2023
Power batteries surpass photovoltaic solar modules as the main export of renewable products. Chinese exports of renewable products grew 35% between 2019 and 2023, driven by competitive prices and dominance of production capacity, according to Wood Mackenzie’s new “Looking Abroad” report. Power batteries overtook solar PV modules to become China’s top renewable energy export product … Continue reading China’s renewable energy exports grow 35% between 2019-2023
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Battery storage begins to play a key role for US grids
California and Texas increasingly rely on storage to balance the grid. Other states will follow. Wind power and photovoltaics require storage to ensure supply “The future is already here — it’s just not very evenly distributed.” That observation, from the great science fiction writer William Gibson, often provides a useful framework for thinking about technological … Continue reading Battery storage begins to play a key role for US grids
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China Wind Turbine Orders to Hit Record 100 GW in 2023
Goldwind retook the position as the top wind energy company for orders in 2023.Chinese wind turbine orders hit a new record in 2023, reaching around 100 GW, according to research by Wood Mackenzie. Analyst’s 2023 China Wind Turbine Order Ranking Analysis Report found that this is the second year in which more than 90 GW … Continue reading China Wind Turbine Orders to Hit Record 100 GW in 2023
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