Protectionist measures would reshape the US wind supply chain and create a more expensive market, New trade tariffs and increased import restrictions in the US onshore wind power sector could lead to higher overall costs, threatening project viability and potentially slowing growth in the industry, according to a recent report from Wood Mackenzie. The report, … Continue reading Proposed US tariffs could increase onshore wind costs by up to 7%, says Wood Mackenzie
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Wood Mackenzie: Trump tariffs will increase US onshore wind power costs by 7%
New trade tariffs and increased import restrictions on the US onshore wind sector could lead to higher overall costs, according to a new report from Wood Mackenzie. The report, titled “Trade war hits US onshore wind,” warns that such cost increases could threaten the viability of projects and potentially slow the growth of the industry. … Continue reading Wood Mackenzie: Trump tariffs will increase US onshore wind power costs by 7%
Continue readingEnergy transition outlook: EU
These are challenging times for Europe’s energy transition. The EU Parliament and national governments emerged from 2024 elections more fragmented as parties deprioritising low-carbon agendas and critical of established policies made gains. The ongoing Russia/Ukraine war continues to shine a spotlight on energy security and the role of renewables in displacing imported gas. Meanwhile, Trump’s … Continue reading Energy transition outlook: EU
Continue readingQuestions over the Trump administration’s plans for solar photovoltaic and wind power
Restrictions on renewables development could conflict with the goal of boosting electricity supply. As President Donald Trump was hitting the headlines with the promised “shock and awe” of his initial fusillade of executive orders, his administration was making other significant changes that attracted less attention, at least at first. One was the order from the … Continue reading Questions over the Trump administration’s plans for solar photovoltaic and wind power
Continue readingEnergy storage: 5 trends to watch in 2025
The global energy storage market had a record-breaking 2024 and continues to see significant future growth and technological advancement. As countries across the globe seek to meet their energy transition goals, energy storage is critical to ensuring reliable and stable regional power markets. Storage demand continues to escalate, driven by the pressing need to decarbonise … Continue reading Energy storage: 5 trends to watch in 2025
Continue readingGlobal solar photovoltaic (PV) growth to stabilise at 493 GW in 2025, Wood Mackenzie predicts
The global solar industry witnessed strong growth in 2024, reaching a record 495 GWdc of installed capacity. It reflected a 14% year-on-year increase. The main reasons behind the solar boom were the rising demand for renewable energy from data centers and electrification trends. But anticipation is looming large over the solar industry this year, despite … Continue reading Global solar photovoltaic (PV) growth to stabilise at 493 GW in 2025, Wood Mackenzie predicts
Continue readingPresident Trump’s executive orders on energy
The new administration aims to boost oil and gas production and baseload generation, while curbing wind power and EVs. “Shock and awe” was what President Donald Trump’s team told everyone to expect from his first day in office, and they did their best to live up to that promise. On Inauguration Day, 20 January, the … Continue reading President Trump’s executive orders on energy
Continue readingTop ten solar photovoltaic (PV) module manufacturers show resilience in H1 2024, Wood Mackenzie says
Despite facing significant challenges, including unprecedented price declines across solar modules and the silicon supply chain, the top ten solar PV manufacturers achieved an average utilisation rate of 66%, most surpassing 70%, as reported by Wood Mackenzie. The new global solar PV module manufacturer rankings report stated that these manufacturers have demonstrated remarkable resilience and … Continue reading Top ten solar photovoltaic (PV) module manufacturers show resilience in H1 2024, Wood Mackenzie says
Continue readingSolar photovoltaic: predictions for 2025
Tras años de crecimiento exponencial de la instalación de energía solar a nivel mundial, ¿podrían la incertidumbre política, las medidas proteccionistas y los cuellos de botella en la interconexión y la transmisión frenar esa tendencia en 2025? Lea nuestra opinión sobre los temas clave para el año que viene. The global solar market continued its … Continue reading Solar photovoltaic: predictions for 2025
Continue readingPredictions for energy and natural resources in 2025
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
Continue readingU.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.
Continue readingWood 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?
Continue readingWill 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)?
Continue readingGlobal 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
Continue readingThe 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
Continue readingGlobal 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
Continue readingWhat 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 readingUS 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 readingCentral 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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