Tag: BloombergNEF

China’s Goldwind Retains Turbine Supplier Lead, as Global Wind Additions Hit New High, According to BloombergNEF

Stuart Mitchell

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 Clean Energy Investment Jumps 17%, Hits $1.8 Trillion in 2023, According to BloombergNEF Report

Stuart Mitchell

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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Corporate Clean Power Buying Grew 12% to New Record in 2023, According to BloombergNEF

Stuart Mitchell

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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Carbon Credits Face Biggest Test Yet, Could Reach $238/Ton in 2050, According to BloombergNEF Report

Stuart Mitchell

Ongoing scrutiny and reputational issues made 2023 a challenging year for the voluntary carbon market. 2024 is set to be a determining year for the future of the market, tied to whether confidence in carbon credits can be restored. Doing so could drive companies to purchase billions of carbon credits annually, elevate prices over $200 per ton and build a market valued at over $1.1 trillion annually by 2050. However, failure could result in the death of the broader market, according to BloombergNEF’s (BNEF’s) Long-Term Carbon Offsets Outlook 2024 report.…

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Tripling Global Renewables By 2030 Is Hard, Achievable and Necessary to Achieve Net Zero

Stuart Mitchell

World leaders have been building momentum to triple globally installed renewable energy capacity by 2030. This goal, which equates to 11 terawatts of renewables capacity by 2030, took center stage at the United Nations climate summit in the United Arab Emirates as the COP28 Presidency seeks international agreement on it. The proposed pledge matches what is needed for a global net-zero pathway by 2050 and Paris-aligned climate goals, according to analysis published today by research provider BloombergNEF (BNEF). While the last tripling of capacity happened over 12 years, from 2010…

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