Tag: BloombergNEF

BloombergNEF’s Long-Term Electric Vehicle Outlook (EVO) shows that EV adoption is still growing, despite the mixed near-term outlook. The new report indicates that rapidly falling battery prices, advancements in next-generation battery technology and improving relative economics of electric vehicles with internal-combustion engine counterparts continue to underpin long-term EV growth globally. However, the report indicates that the window to reach global net-zero transport ambitions is now narrower than ever. The report presents two updated road transport scenarios: the base case Economic Transition Scenario (ETS) – in which EV adoption is shaped…

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Although time is running out, BloombergNEF’s New Energy Outlook 2024 shows how the world could still achieve the major goal of the Paris Agreement – holding global warming to well below two degrees Celsius and avoiding the worst impacts of climate change – and what it would take to get there. The new report indicates that the speed with which clean technologies and decarbonization of the power sector are scaled up is crucial. The New Energy Outlook 2024, the report published today by research provider BloombergNEF, presents two updated climate…

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Global wind capacity additions surged to a record high of 118GW in 2023, according to a new report by research provider BloombergNEF (BNEF). BNEF’s 2023 Global Wind Turbine Market Shares report finds that developers commissioned 36% more capacity worldwide than in 2022 after capacity additions skyrocketed in the world’s largest market, China. Some 107GW, or 90%, of global wind additions were on land while 11GW was offshore. China’s Goldwind maintained its position as the world’s leading wind turbine supplier. The company commissioned 16.4GW of projects last year, 95% of which…

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Global investment in the low-carbon energy transition surged 17% in 2023, reaching $1.77 trillion, according to Energy Transition Investment Trends 2024, a report published today by research provider BloombergNEF (BNEF). This number is a new record level of annual investment and demonstrates the resilience of the clean energy transition in a year of geopolitical turbulence, high interest rates and cost inflation. The report finds that electrified transport is now the largest sector for spending in the energy transition, growing 36% in 2023 to $634 billion. This figure includes spending on…

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Corporations publicly announced a record 46 gigawatts (GW) of solar and wind contracts in 2023, some 12% more than the previous record of 41GW in 2022. The improving economics in key regions like Europe, alongside imminent company clean energy goals, were the main drivers underpinning this growth and position the market even better for 2024, finds BloombergNEF (BNEF) in its 1H 2024 Corporate Energy Market Outlook. According to BNEF, since 2008, corporations have announced power purchase agreements, or PPAs, for 198GW of solar and wind – greater than the power…

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