Global Scans · Energy · Weekly Summary

WHAT'S NEXT?: By 2025 solar energy will be the cheapest energy option globally. In 2040, oil and natural gas are expected to make up nearly 60 percent of global supplies, while nuclear and renewables will be approaching 25 percent. Improvements in energy efficiency in lighting and home appliances are expected to continue to push residential electricity use lower. The burning of coal will fall out of favor. Transportation energy consumption will be rising in correlation to growth in automated vehicles in the coming years.

• [New] Wind is set to be the largest source of electricity generation in the European Union over the forecast horizon, overtaking nuclear energy, and its share will rise from 17% to 25% by 2030. IEA
• [New] In 2026-2030, more than 400 GW of net renewable energy capacity is projected to be added, with 70% coming from solar PV alone. IEA
• [New] We expect all of China's additional electricity demand in 2026-2030 to be met by low-emissions sources, renewables and nuclear energy. IEA
• [New] Low-emissions energy sources - renewables, led by solar, and nuclear - will see their share in global electricity generation rise to 50% through 2030, up from 42% in 2025. IEA
• [New] Global renewable energy capacity is expected to more than double by 2030. WPHM
• [New] The International Energy Agency today set out a range of demand-side actions that governments, businesses and households can take to alleviate the economic impacts on consumers of the disruptions to oil markets stemming from the war in the Middle East. IEA
• [New] The Strait of Hormuz handles approximately 21% of globally traded petroleum, making alternative routing options increasingly valuable for risk-conscious energy buyers. Discovery Alert
• [New] The Strait of Hormuz is a key global energy chokepoint, and disruptions here can significantly impact India's fuel supply, economy, and trade. Adda247
• [New] Rolls-Royce SMR has been selected as preferred bidder by Great British Energy-Nuclear to build the UK's first SMRs at Wylfa, Ynys Mona site expected to deliver up to 1.5 GW of low-carbon generation - and by Czech utility CEZ to deploy up to 3 GW of new nuclear capacity in the Czech Republic. POWER Magazine
• [New] The DOE during the Biden administration updated its Wells of Opportunity initiative that directs funds to retrofit abandoned oil and gas wells to produce geothermal energy. POWER Magazine
• [New] The European Commission has urged Europeans to work from home, drive and fly less, and use public transport more as it warned that the energy crisis triggered by the Iran war will bring prolonged disruption. 10 Things Global News
• [New] Global electricity consumption from data centers is projected to double from 460 TWh in 2022 to more than 1,000 TWh by 2026, highlighting the urgent need for energy-efficient data center technologies. P&S Intelligence
• [New] Budapest is still blocking key EU support for Ukraine and using energy leverage - including threats to curb gas flows - to press its dispute over Russian oil transit. Grounded Perspectives
• [New] The outbreak of hostilities in the Middle East could jeopardise global growth, with energy exports so crucial to supply chains and key inputs not just in industry but also in vital fertiliser for food supplies. Butterfield Group
• [New] A prolonged energy shock from the Iran war could fuel global inflation and dent growth. brecorder
• [New] Global bond yields jumped on Friday, weighing on stocks amid concern that a protracted war in Iran will keep energy prices high and fuel inflation. Barchart.com
• [New] Smart city initiatives and the digitization of industries (e.g., automobile and manufacturing), which are occurring globally, will increase the activities associated with deploying IoT solutions for areas such as traffic control, energy consumption, public safety, and public utility. MarketGenics
• [New] China aims to increase non-fossil fuel energy usage to 30% of its total energy mix by 2035. J.P. MORGAN
• [New] Policies in 2026 and beyond are expected to continue to reduce dependencies on fossil fuels while promoting green protectionism and circularity, all in pursuit of decreasing emissions and increasing energy independence. J.P. MORGAN
• [New] Green hydrogen - the cornerstone of net zero strategies around the world - could fail in becoming a truly sustainable fuel unless countries rapidly decarbonise their energy grids. The University of Sheffield

Last updated: 03 April 2026