Wood Mackenzie has called on policymakers to revise the Renewable Energy Target with more ambitious goals and, concordantly, large-scale investment in grid flexibility to ensure new renewables can join the grid. If we don’t act in this pivotal moment, WoodMac believes we will be left holding stranded assets.
Wood Mackenzie’s Asia Pacific predictions for the energy market in 2021 are in. The firms analysts see wind and solar continuing to grow throughout the region driven by China, but notes that gas and coal aren’t going anywhere fast.
Like most Tesla events, speculation and hype were at all-time highs after CEO Elon Musk hinted that something “very insane” would be revealed. He was not far off! Tesla detailed a completely new cell, along with plans to improve manufacturing, costs and shrink the battery supply chain. With such bold claims come many questions.
U.S.-owned business intelligence firm Wood Mackenzie has attempted to evaluate the market opportunities offered by the repowering of solar projects around the world which feature inverters which are 10 years old – as well as those which will expire ahead of time.
According to new research from Wood Mackenzie, Australia is set to add 1.2 GWh of energy storage capacity in 2020, more than double the 499 MWh installed in 2019.
U.S.-owned analyst Wood Mackenzie expects solar demand to decline but predicts the market will recover, with the prospects for the energy transition remaining intact.
As the outbreak takes its toll on solar panel and battery manufacturing in China, Australia is bracing for disruptions in the supply chains.
WoodMac analysts say the amount of new battery manufacturing capacity added in the nation this year could fall by as much as 10% because of the outbreak. With Tesla’s Shanghai gigafactory affected by the extended new-year-holiday shutdown, the analyst warned of potential supply shortages for Australia and the U.S. and U.K.
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