Solar & wind uptake to reach 5.4 TWac from 2024 to 2033

Global solar deployment to add 3.8 TWac of new project capacity by 2033 compared to 1.6 TW of wind power, 640% growth for energy storage

From 2024 to 2033, developers will bring more than 5.4 terawatts (TWac) of new solar and wind capacity online, increasing the cumulative global total to 8 TWac, as the world endeavours to electrify economies and meet decarbonisation targets, according to latest analysis by Wood Mackenzie.

Energy storage capacity (excluding pumped hydro) will grow by more than 600%, with nearly 1 TW of new capacity expected to come online in the same period. This makes energy storage one of the fastest growing markets in the power industry as renewable integration challenges rise.

Click here to read the full article
Source: Clean Technica

—

If you have any questions or thoughts about the topic, feel free to contact us here or leave a comment below.

/0 Comments/by
You might also like
The CEC’s latest report takes a closer look at the role that long-duration energy storage can play in the CAISO system.California could need up to 37 GW of long-duration storage by 2045 to retire gas resources
The Oak Ridge National Laboratory developed a utility-scale solar storage project that can provide power to both AC and DC high-voltage linesThis solar + storage project could be a US grid game changer
For 55 days in a row, electricity from solar, wind, and water power exceeded 100% of power demand on CA’s main grid for part of the day.Solar passes 100% of power demand in California
CA’s energy storage portfolio could yield net grid benefits of up to $1.6B a year by 2032 as the state looks to expand grid-scale battery installations to 13.6 GWCalifornia’s storage portfolio could provide grid benefits of up to $1.6B per year by 2032, report finds
Starting in January, most new commercial construction in California will be required to install some solar generation and battery storage.New California building codes include climate change mandates
European electric vehicle infrastructure company Allego has signed two ten-year PPA for a total of 100GWh of annual power output.EV charging company signs PPAs for 100GWh of Netherlands solar and wind
0 replies

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply

Your email address will not be published.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