Energy

[New] Romania has assumed the achievement of a target of 30.7% regarding the share of renewable energy in 2030, from the level of 24% reached in 2017.
[New] Taiwan will become the second-largest offshore wind market in Asia after Mainland China, with a goal of 5.5 GW by 2025 and an additional 10 GW by 2035.
[New] North America currently has just 30 MW of offshore wind capacity in operation at the end of 2019, but deployment will accelerate in the coming years with 23 GW forecasted to be installed by 2030.
[New] Global offshore wind capacity will surge to over 234 GW by 2030 from 29.1 GW at the end of 2019, led by growth in the Asia-Pacific region and Europe.
[New] The third-largest market for offshore wind by 2030 will be North America, where there was a modest 30 MW of offshore wind capacity in operation at the end of 2019.
[New] The rate of growth is expected to accelerate in the next 10 years because of a growing appetite for clean energy in countries in the Asia-Pacific region.
[New] A new industry report has revealed stronger than expected growth for the offshore wind industry, which could reach 23 4GW by 2030, from a global tally of just over 29 GW at the end of last year.
[New] To become climate-neutral by 2050, the European Commission plans to increase the use of hydrogen energy from the current 2% to 23%, as well as the 'green hydrogen' from renewable energy sources such as wind or solar power.
[New] India will see a massive investment of USD 118 billion in oil and gas exploration and natural gas infrastructure.
[New] A French start-up has been launched with plans to build a 1 6GWh lithium-ion battery gigafactory in France by 2023 to help Europe meet the growing demand for electric vehicles and energy storage.
[New] Dominion Energy suggested adding 250 MW of energy storage by the end of 2025, with the Virginia-based utility aiming to increase that to 2,500 MW over the next decade.
[New] Virginia-based utility Dominion Energy anticipates increasing renewable energy capacity to 28.3 GW by 2035 from the 2.9 GW of installed capacity in 2019, while CEO Tom Farrell announced plans to vacate his role by the third quarter.
[New] The International Energy Agency expects global oil demand to fall by 9.3 million barrels a day in 2020, equivalent to almost a decade of growth.
[New] Global energy demand fell by 3.6% in the first quarter of 2020, and the International Energy Agency forecast a decline of about 6% in 2020, equivalent to the increase of the last five years.
[New] Given rising energy demands around the world, the International Atomic Energy Agency estimates the potential market value for SMRs is £3 trillion globally - which represents an enormous export opportunity for the UK.
[New] The United Kingdom has set a target to exit coal generation altogether by 2025, but Global Energy Monitor forecasts that a complete coal phase out could be achieved well before then, with the UK already reducing its coal power generation by 82% over the last decade.
[New] By 2030, as much as 32% of energy of the member states is supposed to be produced from renewables, which is further supported by the European Green Deal Investment Plan providing 1 trillion Euro for investments in renewable energy.
[New] In Europe there could be up to 450 GW of offshore wind by 2050, which means spatial planning needs to play a crucial role as other parties will also need seabed acreage.
[New] National Grid's Future Energy Scenarios 2020 report outlines the path towards zero carbon emissions by 2050, with renewables, energy storage, and electric vehicles all having crucial roles to play.
[New] On World Ocean Day, the Ocean Renewable Energy Action Coalition has announced its vision for 1,400 GW of offshore wind globally by 2050 to drive decarbonisation and a green economic recovery from the COVID-19 crisis.
[New] Trump announced plans to extend export terms for liquefied natural gas through 2050 and to approve more pipelines.

See full forecast

Last updated: 09 August 2020