Gen Z

[New] The global shift towards renewable sources for electricity generation poses as a huge threat for the oil and gas demand, which is likely to be a major challenge for the growth of onshore oil & gas pipelines installation in the coming years.
[New] With a growing fleet of thermal power plants running at 60% capacity and high demand growth, coal-fired generation is expected to increase at nearly 4% every year till 2022.
[New] 78% of all new electric generation in the U.S. in 2020 will come from renewable sources, and capital expenditures associated with maintaining and improving the electric grid exceed $100 billion annually.
The next-generation Dreadnought submarines will be the Royal Navy's most advanced submarines ever when they enter service from the early 2030s and will be vital in providing the UK's nuclear deterrent, as they replace the Vanguard class of ballistic missile submarines.
The fifth generation of Waymo's self-driving system is expected to roll out this year as part of its new fleet of Jaguar I-Paces.
Though Germany has ambitious plans to increase its reliance on variable renewable electricity, it will become more dependent on natural gas for electricity generation.
Looking ahead, there are also plans to phase out all coal-fired generation and increase the share of renewable electricity to 65% (by 2030), highlighting the strong role that renewables will continue to play in meeting Germany's climate targets.
Combined wind and solar generation in the major western European markets is expected to grow by around 10% year on year in 2020, with Spain seeing particularly robust capacity gains in response to policy incentives.
Western European markets are forecast to see combined wind and solar generation growth of about 10 percent in 2020, with Spain in particular seeing robust capacity gains on positive policy incentives.
The Vietnamese government has plans to double power generation by 2030, but estimates that supply may run short as soon as next year.
The outlook for 2020 is even lower with displaced domestic coal-fired generation, as low / no cost associated gas from US oil production will cause natural gas prices to bottom and renewable generation will grow by over 70 GWh.
More than 500 coal-fired power plants have been retired over the past decade, and coal will provide only 20% of electricity generation this year.
BofA dropped its expected natural gas price this year to reflect the risk that there is little room for bearish errors from mild weather, high renewable generation or reduced liquefied natural gas exports.
India's coal-fired power generation is forecast to grow by 4.6% per year over the next five years - the highest growth of any country.
SEIA announced last year a goal of solar power, providing 20 percent of all U.S. electricity generation by 2030.
Coal-fired power generation in the US is expected to remain in a steep decline until about 2025, but then stabilise and remain resilient to 2050, while gas-fired power is expected to grow by 23%.
The AEO2020 Reference case projects the share of U.S. electricity generation from renewable sources to double from 19% of total generation in 2019 to 38% by 2050.
Electricity generation from renewable sources such as wind and solar to surpass nuclear and coal by 2021 and to surpass natural gas in 2045.
In the Midwest, where the Midcontinent ISO (MISO) manages electricity, EIA expects coal generation to fall in 2020 by 33 billion kWh.
U.S. electricity generation from renewable sources is expected to reach 19 percent in 2020 and 22 percent in 2021, up from 17 percent in 2019.
Wind and solar power will dominate the electricity generation additions across the US in 2020, accounting for an overwhelming 76 percent of all new capacity set to begin commercial operation this year.
EIA expects U.S. natural gas use in the electric power sector to increase 1.3% in 2020 as a result of natural gas-fired generation additions that continue to displace coal-fired generation.
EIA expects the increased ERCOT renewable generation will lead to a regional decline of natural gas-fired generation and coal generation of 14 billion kWh for each fuel source in 2020.

See full forecast

Last updated: 29 March 2020