August 24, 2020 07:48 ET | Source: Research and Markets. The outlook builds on IRENA’s earlier Global Energy Transformation reports. The expiration of the federal production tax credit, or PTC, and rapidly dropping prices for solar PV panels despite the impact of tariffs have helped solar continue to emerge as a major player in the utility-scale power landscape. The spending cycle became a powerful vehicle not only for plant modernization, but also as the widespread capital spending served as a solid source of earnings growth throughout the utility sector.
The report presents findings on the specific transition prospects for ten regions around the world. impact how much wind capacity is built in the wind-rich Midwest. First, fixed-bottom and floating-platform offshore wind became real. S&P Global Market Intelligence's Power Forecast team projects almost 55,000 MW of new wind and 45,000 MW of new solar installed between 2020 and 2030 just to maintain pace with state RPS requirements alone. Declining costs should keep the broader renewables market competitive, and companies appear to have a positive outlook. "Storage is still expensive," Graham said. Thank you for your interest in S&P Global Market Intelligence!
Between 2010 and 2018, annual wind and utility-scale solar additions averaged about 6.9 GW and 3.6 GW, respectively. It shows how rising prosperity drives an increase in global energy demand and how that demand will be met over the coming decades through a diverse range of supplies including oil, gas, coal and renewables 14 September 2020 – Energy Outlook launch You are invited to the launch of bp’s Energy Outlook on 14 September at 1.30pm. Articles, IRENA and UAE Mission Co-host First Session of ‘Renewables Talk’, 14 May 2020 |
By Jason Lehmann, Research Analyst, Energy, S&P Global Market Intelligence. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. With the need for emission reductions unchanged, clean energy investments can safeguard against short-sighted decisions and the accumulation of stranded assets. Adding energy storage to PV can also help reduce cuts in solar production during periods of midday oversupply on the grid — a growing challenge in solar-rich states like California — by saving otherwise idled solar-generated electricity for later use. You can change your choices at any time by visiting Your Privacy Controls.
It is not likely that all 72 GW of capacity slated for 2020 will achieve that online date.