25 °C Singapore, SG
March 8, 2021
Latest News
Waning support for nuclear power 10 years after Fukushima Enterprises’ sustainable development contributes to Việt Nam’s prosperity: PM Grab is hatching a carbon-cutting plan Tata Power unveils blockchain-enabled solar trading for Delhi customers Construction set to start on Australia’s first lithium-ion battery manufacturing plant UK Ford Mustang Mach-E Buyers Get Big Charging Boost Via BP Pulse Network Solar power’s future could soon be overshadowed Why a managed shift away from fossil fuels is essential and urgent. Including for petrostates. Dangerous narratives and climate migration IEA releases India Energy Outlook 2021 report Could an environmental inspector’s criticisms accelerate China’s climate policies? IEEFA Indonesia: Switching coal plants to PLN’s biomass cofiring plan is no magic bullet ‘A big promise’: Biden’s climate spending pledge faces early test Japanese trading firms rethinking fossil fuel investments as global decarbonization push grows World’s largest offshore wind farm planned for South Korean waters Money down for hydrogen hopes in Victoria’s hottest and driest region Rooftop solar booming in Hawaii as utility launches ‘Quick Connect’ Carbon capture technology has been around for decades — here’s why it hasn’t taken off Electric Car Charging As Fast As Gasoline Is The Aim, But Barriers Remain Floating solar panels on 1% of reservoirs ‘could double’ Africa’s hydropower capacity Scientists say world’s huge ice loss is speeding up New York Times: Electric Cars Are Cheaper & Cleaner JinkoSolar Begins Construction On 20 Gigawatt Solar Cell Factory Asia Pacific to reduce cost of front-of-the-meter battery storage by 30% Reformed trade rules can help to save the climate Science warns world of ‘ghastly’ future ahead Kerry climate team begins to take shape Australia not among 50 countries vowing to protect 30 per cent of land and sea by 2030 Investors pressure HSBC to take stronger action to phase out coal financing Morgan Stanley takes stake in SolMicroGrid in a nod toward Energy-as-a-Service model

Asia Pacific to drive ‘global market to 2030’

This growth will be slightly slower than the 35% increase between 2010 ($71.6 billion) and 2018 ($96.4 billion), analysts at GlobalData found.

Asia Pacific’s cumulative capacity reached 262.2GW in 2018, ahead of about 200GW and 100GW in Europe and North America, respectively.

Rapid growth in China — adding about 20GW per year between 2019 and 2030 to exceed more than 400GW by the end of the forecast period — will provide the bulk of the “significant capacity additions” in Asia Pacific in the next decade.

This increase will drive the global wind power sector’s market growth, the analysts stated.

Offshore

Offshore installations will ramp up during this period, with its share of total installed wind power capacity rising from 4.2% in 2019 to 9.6% in 2030.

The increasing share of offshore wind in cumulative capacity will be driven by large-scale installations that are already underway off a few countries’ coasts, GlobalData said.

China will install between 1GW and 3GW of offshore capacity a year between 2019 and 2030, while the US is due to add between 1GW and 2GW each year.

There will also be strong growth in waters off the UK and Germany.

Source

Leave a Reply

Your email address will not be published. Required fields are marked *