BloombergNEF

EV sales continue to grow globally 🆙 Though China leads, Thailand, India, Turkey, Brazil and others are experiencing record sales with the introduction of more affordable models. 🔗 Learn more in our Electric Vehicle Outlook 2024: https://bloom.bg/3YymFZi #BNEFEVO #EV #sustainability

Every year, BNEF’s New Energy Outlook develops and evaluates scenarios for the transition to a low-carbon economy. But what value do these long-term outlooks bring to those working in climate and energy? 🎧 Listen in to our Switched On podcast for a discussion on nine technological pillars that underpin the energy transition, and the value of scenario exercises: https://bloom.bg/4cbqBlN #BloombergNEF #NetZero #CleanPower #Podcast

The US is leading the global carbon capture industry, with the capacity to capture as much as 164 million tons by 2035. Last year, the sector attracted more than $11 billion in investments – almost double the 2022 level. BNEF analysis highlights 💡: ◾ Carbon capture is a capital intensive process but capacity is still expected to jump sevenfold thanks to government incentives. ◾ As capacity expands, most carbon will be captured from the hydrogen industry, with the power sector being the second-largest segment. ◾ Issues to resolve with permitting for CO2 transport pipelines and storage locations mean the next two to three years will be critical in pushing forward proof-of-concept projects. 🔗 Read more: https://bloom.bg/3SzNxnI #carbon #carboncapture #innovation #oilandgas

For this week's episode of Cleaning Up Podcast I sat down with Jenny Chase - lead solar analyst at BloombergNEF and author of "Solar Power Finance Without the Jargon - to chew over the past, present and future of the solar sector. I recruited Jenny into New Energy Finance just under 20 years ago. Since then she has become the leading commentator, trend-spotter and muckraker in solar power - an Ida Tarbell for our times (look her up, kids!). On our watch, the solar sector has gone from MW to TW scale - absorbing over $1 trillion of investment, creating and destroying fortunes, providing the first electricity to hundreds of millions of people, arousing incredible support as well as some weird hostility. But with over 1TW of annual manufacturing soon to grow to 2TW, solar's PV's disruptive power is only just starting to be felt. This episode has it all: stories from the early days of NEF, data on costs and growth, respectful disagreements, predictions. It was huge fun to catch up with Jenny, and I think it shows. Watch or listen now, before your friends do! https://lnkd.in/gTVyu4-3 And many thanks to Patrick Hofer-Noser and 3S Swiss Solar Solutions AG for letting us record and film at your factory in Thun. Doing great things in true building-integrated solar.

The Electric Reliability Council of Texas (ERCOT) is facing two major upheavals in the coming years: 1️⃣ Renewable capacity in the region is forecasted to rise 120% by the end of the decade. 2️⃣ Peak system demand could be as high as 152 gigawatts in 2030 by Ercot estimates — nearly double the current grid’s proven maximum. Whilst incumbent utilities are ramping up spending to meet these challenges, the resultant grid buildout falls short of what is needed to hit net zero. 🔗 Read more in BNEF’s analysis: https://bloom.bg/46sED12 #NetZero #RenewableEnergy

Despite rapid progress on EV and battery technology, the industry faces some headwinds in 2024 as trade tensions rise and countries look to on-shore more of the supply chain. Slowing EV growth rates could put climate targets at risk. Learn more in our Electric Vehicle Outlook 2024: https://bloom.bg/3y8d40y #BNEFEVO #EV #ElectricVehicles

🌍 The Low-Carbon Shift: Not A Tomorrow Problem For Companies The low-carbon transition isn't just a future issue; it's reshaping revenues today. As economies of scale drive costs and competitiveness, incumbent firms face a tough choice: preserve short-term stability by sticking to existing business models or embark on a long, capital-intensive transition to catch up with early movers. BloombergNEF's latest research note quantifies the revenue impact of this shift on 28 automakers and 27 US power utilities between 2015 and 2022. Highlights include: 🚗 $24 billion: Toyota’s estimated displaced revenues from internal combustion engine car sales due to electrification, equivalent to 8.6% of its 2022 revenues. 💰 $1 trillion: Estimated global revenue displacement in 2026 in the automotive sector due to electrification. ⚡ $36 billion: Wholesale revenue displaced away from US coal and gas power plants due to the deployment of solar and wind power in 2022. Discover how the low-carbon transition is transforming industries: https://bloom.bg/4dpnAPP #LowCarbonTransition

Today, we launched the 2025 edition of BNEF Pioneers — our flagship innovation competition. We are now accepting applications from any climate-tech solution with the potential for significant climate impact, technology innovation and readiness to scale. For 2025, our three challenge areas are: 1️⃣ Making 'light' industry more sustainable 2️⃣ Innovations in energy storage 3️⃣ Boosting climate adaptation capabilities For excellent applicants that do not fit into these three challenge areas, we will also be recognizing some Wildcard winners. Visit our website for more information on how to apply, the criteria, and past winners: https://bloom.bg/4ca7vMO #innovation #sustainability #technology #climatetech

Public and investor pressure has mounted on the oil and gas industry to decarbonize. So what are the latest trends in its energy transition? 💡 ◾ Shell-led asset sales from 2015 to 2023 with $71 billion of divestment proceeds. ◾ Total asset disposal value fell 15% in 2023 from a year earlier to $22 billion. ◾ IOCs are selling more in home markets, namely in Europe and North America. 🔗 Read our analysis here: https://bloom.bg/4cRgIed #BloombergNEF #EnergyTransition #Decarbonization #OilAndGas

Decarbonization is a much easier pitch to make when it's also saving money. While we can't say that yet for industry, there are many technologies that would need a premium of less than 50%, or are competitive with carbon pricing by 2030. We've just published our 2024 Levelized Cost of Net-Zero Materials report, with costs for steel, alumina, aluminum and petrochemicals for 12 countries. Everyone can view a summary here: https://lnkd.in/e8eizyPE and BNEF clients can see the full report and the models behind it here: https://lnkd.in/ecu_J2B5 Steel has the best chance at competing, with some green technologies already cheaper than the most expensive unabated plants. Aluminum has the easiest road to significant emissions reductions: switching smelters to clean power can cut CO2 by almost 80%. Clean power could also play an important role in decarbonizing plastics, with electric reactors coming in as the lowest-cost option by 2030. We can't wait around for technology improvements to lower costs for clean industry. In order to meet 2050 net-zero targets, we need carbon pricing, targeted subsidies, and strong demand from consumers for sustainable products. We have just enough time to transition industrial sectors, but it's running out. #netzero #industry #decarbonization