Energy

[New] The demand for rare earth minerals required for the manufacture of solar panels is expected to increase 300% to 1000% by 2050 to meet the goals of the Paris Accord.
[New] The offshore wind industry will invest between $ 28-$ 57 billion in the U.S. economy and support 45,000-83,000 jobs by 2030, depending on installation levels and supply chain growth.
[New] Opportunities are being missed to use water projects to cut greenhouse gas emissions while improving access to clean water.
[New] The global demand for natural gas is expected to increase by 1.6%, y-o-y, for the next five years, with consumption reaching almost 4,250 billion cubic meter by 2025, up from 3,850 bcm in 2018.
[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] China has been looking to cut its reliance on coal in order to fulfill its commitment to cap carbon emissions by around 2030, by promoting gas-fired heating in winter and boosting power consumption from renewable energy.
[New] A moderate subsidy for renewable energy linked to significant technical progress in renewable energy is a crucial way for China to achieve its energy target and transition in 2030.
[New] A moderate subsidy associated with feasible technical progress in renewable energy is an effective way to meet government targets in 2030 and is helpful for energy transition in China.
[New] China has set an ambitious target for non-fossil fuel energy in the Energy Production and Consumption Revolution Strategy (2016-2030): the ratio of non-fossil fuel energy will be 20% and more than half the total energy consumption in 2030 and 2050, respectively.
[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] By 2050 about quarter of the world's electricity will be needed for electric cars and almost half of all electricity will come from renewable sources, such as solar and wind.
[New] Sustaining the decrease in emissions seen this year will require increasing investments in zero emissions capacity and increasing energy efficiency.
[New] Two solar projects will include batteries, supporting New York's goal to install 3 GW of energy storage by 2030.
[New] A new report supports offshore wind development as a tool to decarbonise the power sector and enable the UK government to meet its goal of net zero greenhouse gas emissions by 2050.
[New] In India, $80 billion is at risk, with 37 GW of coal power under construction and 29 GW planned.
[New] In the base scenario, annual offshore wind activity contributes $2.8 billion in added value to the U.S. economy in 2025.
[New] In a high build and high domestic content scenario, offshore wind could support up to 83,000 jobs and deliver $25 billion annually in economic output by 2030.
In total, offshore wind activity supports an estimated $12.5 billion in new economic output per year in 2025, including $2.6 billion driven by operations and maintenance activities.
Assuming 3,000 MW of yearly offshore wind power deployment, offshore wind activity will contribute an estimated $6.2 billion in added value to the U.S. economy in 2025.
Under a more aggressive scenario, the wind industry is expected to invest $57 billion in the U.S. economy by 2030 to develop 30 GW of offshore wind power.
In the base scenario, the development of 20 GW of offshore wind power results in $28 billion invested in the U.S. economy by 2030.
Jobs, economic output, and economic value add resulting from the development and operation of offshore wind projects on the East Coast of the U.S. through 2030.
Investment in the U.S. offshore wind industry will deliver $5.5 to $14.2 billion per year by 2025, and $12.5 to $25.4 billion per year by 2030 in economic output.

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Last updated: 29 March 2020