BloombergNEF: US Falling Behind on its Climate Goals; Faster Adoption of Low-Carbon Technologies Needed to Get it on Track
• US set to cut just 22% of its emissions by 2030 at its current pace of decarbonization, rather than the 50% required to be on track to meet its Paris Agreement goals • Net zero in the US by 2050 requires 20% more investment than what’s seen in BNEF’s base case • Electrification emerges […]
Renewables Off Pace for Global Tripling, but the Goal Is Still Within Reach
● Following a record $623 billion being invested in renewables in 2023, BNEF estimates this must climb to an average of $1 trillion per year (in 2023 dollars) between 2024 and 2030. ● An average of $193 billion per year is also required for battery storage over this period and $607 billion for electricity grids. […]
Africa’s Renewables Targets Will be Hard to Achieve Despite a Doubling of Investment, BloombergNEF’s Latest Report Finds
23 September 2024, LONDON – The African Union has committed to bring 300 gigawatts of renewables online by 2030 – more than quadruple the 72 gigawatts the continent had last year – in order to reach its decarbonization and energy access goals. The Africa Power Transition Factbook 2024, produced by BloombergNEF (BNEF) with support from […]
Brazil Has a $1.3 Trillion Opportunity in Low-Carbon Energy Supply Investments, According to BloombergNEF
18 September 2024, London – As this year’s G-20 President and the host of COP30 in 2025, Brazil has a historic opportunity to lead the global transition to a low-carbon economy. Yet meeting the country’s large-scale ambitions will require significant investment in multiple technology pathways, BloombergNEF (BNEF) finds in its first Brazil Transition Factbook. According to […]
Urgent, Faster Scale-Up of Clean Technologies Presents Multi-Trillion-Dollar Opportunities for Decarbonization of India
•BloombergNEF’s New Energy Outlook: India details how the country can accelerate its decarbonization trajectory in line with the Paris Agreement commitment •Over $12 trillion in investment and spending is required for BNEF’s Net Zero Scenario, 34% more than the baseline Economic Transition Scenario •More than 4 terawatts of wind and solar capacity are installed by […]
Faster Scale-Up of Clean Technologies Could Get China on Track for Net-Zero Emissions by 2050
•BloombergNEF’s New Energy Outlook: China outlines how the country can achieve its carbon neutrality target 10 years earlier than its current 2060 goal •China needs to target a drop of at least 43% in energy-related emissions by 2035 compared with 2005 to stay on track with the Paris Agreement goal, BNEF’s Net Zero Scenario shows […]
Clean Electricity Breaks New Records; Renewables on Track for Another Strong Year: BloombergNEF
More than 40% of the world’s electricity came from zero-carbon sources for the first time in 2023; 14% from wind and solar Almost 91% of global net power capacity additions came from solar and wind in 2023 versus 6% from fossil fuels Renewable energy attracted $313 billion of new investment in the first half of […]
Urgent Scale-Up of Clean Technologies Needed to Keep Australia on Net-Zero Trajectory
•BloombergNEF’s New Energy Outlook: Australia details how the country can still meet decarbonization targets and net-zero commitment by mid-century •$2.4 trillion investment and spending required for BNEF’s Net Zero Scenario, only 12% more than the baseline Economic Transition Scenario •290 gigawatts of wind and solar capacity installed by 2050, power demand grows 2.5-fold Sydney, 19 […]
Electric Vehicle Sales Headed for Record Year but Growth Slowdown Puts Climate Targets at Risk, According to BloombergNEF Report
• BloombergNEF’s Long-Term Electric Vehicle Outlook shows that as technology for electrification continues to improve, and battery prices fall, adoption moves from being policy-driven to being driven by consumer demand across all markets • Passenger EV sales are expected to exceed 30 million in 2027 in BNEF’s base case scenario and grow to 73 million […]
Lithium-Ion Batteries are set to Face Competition from Novel Tech for Long-Duration Storage: BloombergNEF Research
Study shows that long-duration energy storage technologies are now mature enough to understand costs as deployment gets under way New York/San Francisco, May 30, 2024 – Long-duration energy storage, or LDES, is rapidly garnering interest worldwide as the day it will out-compete lithium-ion batteries in some markets approaches and as decarbonization plans become more ambitious. […]