A Wood Mackenzie report sees V2X at a turning point, although many challenges must be overcome before achieving mass adoption.
Storage deployment grew across all segments and is forecast to grow another 25% in 2025, according to Wood Mackenzie.
Despite the down year, Wood Mackenzie forecasts the market to more than triple in size by 2035.
Solar may have had a peak year in 2024, as persistent challenges in interconnection labor and more are forecast to lead to 1% annual declines through 2035, said a report from Wood Mackenzie.
Wood Mackenzie’s report explores the progress made against renewable power targets and the implications of Trump 2.0.
A recent report by Wood Mackenzie and the Coalition for Community Solar Access finds that 1.7 GW of community solar was installed in the U.S. in 2024.
The U.S. added 30 GW of solar in 2024 and solar is expected to remain the largest source of new generating capacity added over the next two years.
Wood Mackenzie’s latest report forecasts that 493 GW (DC) of solar will be added throughout the world this year, compared to 495 GW in 2024. Solar module prices are expected to rise this year as manufacturers aim to recover profit losses from the past two years.
Virtual power plant capacity must double to meet demand, the Department of Energy said in its latest report on virtual power plants.
Industry thought leaders indicate that the changes in the final rules for the 45V tax credits are positive, but they will not reduce dependence on polluting fossil fuels.
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