Electric vehicle race heats up
The race to electrify passenger cars is picking up pace, writes Prachi Mehta, senior research analyst for Wood Mackenzie. Competition among leading EV automakers is fierce, as 2024 looms as a watershed year when auto battery-pack prices cross a key consumer threshold.
CATL claims to have made sodium-ion batteries a commercial reality
The manufacturer has launched sodium-ion products online. Production has begun and will be easily scalable, according to the CATL chairman. Researchers have been keen to make the technology work as it offers a cheaper, more environmentally friendly alternative to lithium-ion products.
China to add 619 GW of solar this decade
Indonesia will catch the eye too over the next nine years, according to analyst WoodMac, as its market grows from 300 MW to 8.5 GW.
‘China renewables will hit grid parity with new-build coal next year’
Analyst WoodMac says South Korea, Thailand and Vietnam will also join India and Australia next year, among the nations where clean energy projects are cheaper than new coal power plants.
Wood Mackenzie expects 115 GW of solar this year
If confirmed, the global newly installed PV capacity for this year would be 5% more than that of 2019. China is forecast to be once again the world’s largest market, with 39 GW.
PV module innovations to lower solar costs in coming decade
A new report by Wood Mackenzie suggests that rapid solar module technology innovations in the next decade will lead to significant increases in module power class, better performance and more versatile applications. Technology and lower capex will be key to sector growth, it adds.
China will need 1.9 TW of solar by 2060 to hit net zero – WoodMac
The bill for full decarbonization of the economy – which is likely to see the decommissioning of no more than half the current coal fleet, with CCS doing some heavy lifting, according to the US-owned analyst – could come in at more than $5 trillion.
Japan’s struggle to drive down renewables costs
A nation famous for high electricity prices has seen power costs fall 15% this year, according to analyst Wood Mackenzie, a figure which will help attract $100 billion of solar and wind investment to 2030. Renewables will have to work even harder, however, to displace fossil fuels in hydrogen production.
A battery chemistry schism is imminent
A report from Wood Mackenzie predicts lithium-iron-phosphate will overtake lithium-manganese-cobalt-oxide as the dominant stationary energy storage chemistry within the decade.
Battery manufacturing capacity set to increase fourfold to 1.3 TWh by 2030
Analysts at Wood Mackenzie have looked at plans for the incoming decade and concluded that about 119 manufacturing sites will be up and running by 2030. China currently sits firmly in the driving seat, with Asia Pacific comprising 80% of global manufacturing capacity, but Europe is catching up.
