Tag: BloombergNEF

Chinese Manufacturers Lead Global Wind Turbine Installations, BloombergNEF Report Shows

Stuart Mitchell

Wind turbine installations hit a record for a second year in 2024, driven by rapid growth in mainland China, according to a new report by research provider BloombergNEF (BNEF).    Globally, developers brought online 121.6 gigawatts (GW) of wind turbines worldwide last year, double the capacity commissioned in 2019, according to BNEF’s 2024 Global Wind Turbine Market Shares. Some 109.9GW, or 90%, of global wind additions, were on land while 11.7GW was offshore.  Mainland China accounted for six of the top 10 turbine makers worldwide. The top four spots were…

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Global Cost of Renewables to Continue Falling in 2025 as China Extends Manufacturing Lead: BloombergNEF

Stuart Mitchell

The cost of clean power technologies such as wind, solar and battery technologies are expected to fall further by 2-11% in 2025, breaking last year’s record. According to a latest report by research provider BloombergNEF (BNEF), new wind and solar farms are already undercutting new coal and gas plants on production cost in almost every market globally. Meanwhile, China’s clean technology manufacturing overcapacity has led to rising protectionism in the form of import tariffs by countries to avoid cheap imports upending their own energy markets. Trade barriers could temporarily stall…

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Vietnam’s 2050 Net-Zero Target Represents a $2.4 Trillion Opportunity

Stuart Mitchell

Vietnam can still fulfill its goal of reaching net-zero emissions by 2050 and help limit global warming to well below 2C. But doing so rests on a rapid scale-up of clean power, electric vehicles and, to a lesser extent, carbon capture and storage technology, according to a new report published today by BloombergNEF, Net-Zero Transition: Opportunities for Vietnam. This report builds on the results of BNEF’s flagship New Energy Outlook 2024, presenting two updated climate scenarios: a Net Zero Scenario that maps a path to net-zero emissions globally by 2050,…

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New Study Shows American Sustainable Energy Technologies Are Ready to Meet Increasing Energy Demand

Stuart Mitchell

In 2024, U.S. power generation reached its highest volume in two decades, driven by growth in renewable energy technologies and by stable natural gas generation capacity. These energy growth sectors face favorable market conditions as the United States eyes rising energy demand, according to the 2025 Sustainable Energy in America Factbook published recently by BloombergNEF and the Business Council for Sustainable Energy (BCSE). 2024 saw continued investment and deployment across the power sector, especially in energy efficiency, renewable energy, energy storage, natural gas, and sustainable transportation. Meanwhile, rapidly rising expectations…

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Global Investment in the Energy Transition Exceeded $2 Trillion for the First Time in 2024, According to BloombergNEF Report

Stuart Mitchell

Investment in the low-carbon energy transition worldwide grew 11% to hit a record $2.1 trillion in 2024, according to Energy Transition Investment Trends 2025, an annual report released today by research provider BloombergNEF (BNEF). Growth was driven by electrified transport, renewable energy, and power grids, which all reached new highs last year, along with energy storage investment. While overall investment in energy transition technologies set a new record, the pace of growth was slower than the previous three years, when investment jumped by 24-29% annually. Electrified transport remained the largest…

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