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
Continue readingTag Archives: Wood Mackenzie
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?
Continue reading
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
Continue reading
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
Continue reading
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
Continue reading
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
Continue reading
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
Continue reading
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
Continue reading
