Energy storage market ‘to double six times by 2030’

The global market for energy storage technologies will double six times between 2016 and 2030. That’s the prediction made in a new report from Bloomberg New Energy Finance (BNEF), which suggests the sector’s total capacity will rise to a total of 125 gigawatts or 305 gigawatt-hours. It likens the estimated trajectory with the boom witnessed […]

EVs to account for majority of new car sales by 2040

Electric vehicles (EVs) will make up 54% of new car sales globally by 2040. According to Bloomberg New Energy Finance (BNEF), they will also account for 33% of all light-duty vehicles during the same period. Its analysis draws on likely future reductions in price for lithium-ion batteries and prospects for other cost components in EVs […]

Global renewable investment drops, offshore wind spending up

Investment in offshore wind projects globally was up 40% last year to $29.9 billion (£24bn). However overall investment in clean energy fell 18% to $287.5 billion (£234bn), according to Bloomberg New Energy Finance (BNEF). That was due to Chinese slowdown and falling costs of solar power, it states. China and Japan both saw a fall […]

Coal and gas to remain cheap but renewable costs to fall by 2040

Coal and gas prices are likely to remain low but will fail to stop the low carbon transformation of the global electricity system. That’s because the cost of renewables will keep falling by 2040, according to Bloomberg New Energy Finance (BNEF) which forecasts an investment of $11.4 trillion (£7.7tn) in global power generation capacity during […]

EVs to represent 35% of new car sales by 2040

Electric vehicles (EVs) will represent 35% of new car sales globally by 2040. Research by Bloomberg New Energy Finance (BNEF) forecasts around 41 million EVs will be sold during that period. That would be almost 90 times the figure of 2015 when sales of these type of low carbon cars were estimated to have been […]

Renewables overtake fossil fuels in US

Renewable energy was the biggest source of new power added to the electricity grids in the US last year. That’s according to a new report, which revealed developers installed 16GW – or 68% – of clean energy in 2015. It was the second consecutive year renewable energy overtook fossil fuels, Bloomberg New Energy Finance (BNEF) […]

Solar energy to attract $3.7tn by 2040

Around $3.7 trillion (£2.3tn) could be invested in solar power by 2040. That’s according to Bloomberg New Energy Finance’s (BNEF) forecast, which also stated $2.2 trillion (£1.3tn) of solar energy investment will be for “small-scale solar projects as consumers seize control of their power”. That’s equivalent to the worldwide capacity of rooftop, building-integrated and local solar […]

India’s clean energy spending to top $10bn in 2015

Clean energy investment in India could pass the $10 billion (£6.6bn) mark this year, according to analysts. New research shows the nation has “one of the lowest levelised costs of renewable energy generation in the world”. Researchers at Bloomberg New Energy Finance (BNEF) expect 2.5GW of new solar capacity and 2.8GW of wind installations in […]

Clean energy investment ‘jumped 16% in 2014’

Total global investment in clean energy projects rose to $310 billion (£204bn) last year, latest figures show. It was boosted by demand for large-scale and rooftop solar as well as the financing of a “record” $19.4 billion (£12.8bn) of offshore wind projects, researchers at Bloomberg New Energy Finance (BNEF) said. The total investment figure represented […]

Clean energy investment rises after two-year decline

Investment in the clean energy industry is starting to increase after two years of decline, according to a new study. That’s largely due to growth in China and Japan, analysts at Bloomberg New Energy Finance (BNEF) said. Globally, around $175 billion was invested in clean energy projects in the first nine months of 2014 – […]