WoodMac

Brazil’s Renewable Curtailment to Average 8%; Needs BESS Fix: Finds Study

Brazil’s power sector is poised to add 76 GW of new solar and onshore wind capacity through 2035, driven by transmission and distribution tariff discounts, says Wood Mackenzie’s latest analysis.  Whereas, the distributed solar installations are projected to grow at a 5.5% compound annual growth rate (CAGR), according to Wood Mackenzie analysis. Despite this substantial […]

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Grid-Forming Tech Key To Powering $5 Tr Renewable Expansion: WoodMac

Battery energy storage systems (BESS) will require $1.2 trillion in investments to support more than 5,900 GW of new wind and solar capacity installations globally through 2034, research firm Wood Mackenzie said. The research firm said grid-forming (GFM) technology should be deployed to help achieve the projected $5 trillion expansion in global renewable energy capacity. […]

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Solis Leads Globally In Residential Solar Inverters

Solis (Ginlong Technologies), a global leader in solar inverter technology, has announced that it has received the #1 ranking position in global residential inverter shipments, as reported in the latest Wood Mackenzie inverter market share report for 2023. This represents a significant rise from Solis’ previous standing as the world’s third-largest PV inverter manufacturer across […]

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33 GW Solar In Sight In US For 2023, With 6.5 GW Additions In Q3

The U.S. solar industry added 6.5 gigawatts (GW) of new electric generating capacity in Q3 2023, a 35% year-over-year increase as federal clean energy policies begin to take hold. As a result of this growth, the United States is expected to add a record 33 gigawatts (GW) of solar capacity in 2023, according to the […]

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US Continues to Break Storage Records, With 5.5 GWh Added In Q2 2023

A report from Wood Mackenzie and the American Clean Power Association states that the U.S. added 5,597 MWh of energy storage in Q2 2023, a new quarterly record. The storage boom has been fueled by a sharply rising share of renewable energy, as well as incentives at state level as well as now, through the […]

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Solar O&M Market Set To Grow to $15 billion By 2030-Woodmac

Global non-residential solar operations and maintenance (O&M) spend is expected to hit US$15 billion by 2030. But new research from global energy consultancy Wood Mackenzie (Woodmac)   indicates that increasingly competitive auction prices, coupled with rising labour and supply chain costs, mean service vendors face challenges to stay profitable. Leila Garcia da Fonseca, senior manager, Wind […]

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US Solar Industry Installed Record 19.2 GW Capacity in 2020: Report

The US solar industry grew 43% and installed a record 19.2 GW of capacity in 2020, according to the US Solar Market Insight 2020 report The US solar industry grew 43 percent and installed a record 19.2 gigawatts (GW dc) of capacity in 2020, according to the US Solar Market Insight 2020 Year-in-Review report, released by the […]

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WoodMac On The Commercial Charging Market For Heavy Vehicles To 2050

WoodMac says that commercial electric vehicle charging equipment market worth over $870 billion by 2050 Global research agency Wood Mackenzie believes commercial vehicle electrification is on the cusp of exponential growth, largely driven by climate policy and decarbonisation goals. The agency says that government funding and zero-emission vehicle regulations are strong drivers for commercial electric […]

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