Genetics

• [New] Australia is deploying new renewable energy capacity ten times faster than the global average, and the share of renewable energy in Australia's electricity generation is expected to reach around 30% by the end of 2020.
• [New] The CES currently requires New York to generate 100% carbon-free electricity by 2040 and attain economy-wide net-zero carbon emissions by 2050.
• [New] The UK will be required to build 9-1 2GW of energy generation capacity annually to reach the net-zero target, which is higher than any output recorded in the UK in the previous 50 years.
• [New] The share of renewable energy sources in the United States generating mix should increase rapidly over the next three years, with a high probability that wind energy will see a net increase of 27,324 MW, while solar is forecast to grow by a net of 32,801 MW.
• [New] 6.7 GW of new wind capacity is expected online in Texas and Oklahoma by the end of 2020-low-cost generation that will cut directly into the two AEP coal plants' potential market.
• [New] Although solar generation is greater in the off-grid development case, EIA expects natural gas to remain the most prevalent fuel in Africa's 2050 generation mix in both side cases.
• [New] The investment needed for the large-scale deployment of offshore renewable energy technologies by 2050 is estimated at almost €800 billion, around two thirds to fund the associated grid infrastructure and a third for offshore power generation.
• [New] New Jersey has a goal of generating 7,500 megawatts of power from offshore turbines by 2035, second only to New York nationally.
• [New] The United States offshore wind industry holds 15 active commercial leases that, if built, could generate another 30 GW of electricity, create 83,000 jobs and drive $25 billion in annual economic output in the next decade.
• [New] $11 trillion will be invested in new power generation technologies by 2050, with $8 trillion in wind and solar energy, and over $1 trillion in other zero-carbon technologies.
• [New] Representing 95% of all growth in power generating capacity over the next five years - 60% from solar PV, 30% from wind - renewables should overtake natural gas in 2023, and coal in 2024.
• [New] Renewables are forecast to overhaul natural gas in terms of global power generating capacity by as soon as 2023 and could overhaul coal by 2024.
• [New] Australia's hydrogen industry could generate some A$11 billion a year in gross domestic product by 2050, and could create some 8000 new jobs in that timeframe.
• [New] To achieve net-zero emissions before 2060, China would need to stop building unabated coal power plants, reduce the use of coal for power generation rapidly to a 5% -10% share in 2030, and phase out the use of coal-fired power generation by 2040.
• [New] By 2025, renewables will have usurped coal to become the biggest source of electricity generation globally.
• [New] In 2024, wind and solar capacity will exceed coal-fired generation to represent the largest share of global power capacity.
• Offshore renewable energy is one of the most promising routes to increase future power generation in the coming years in a way that meets Europe's decarbonisation objectives and expected rise in electricity demand in an affordable manner.
• The global sleeping aids market generated a revenue of $78.7 billion in 2019 and is predicted to progress at a CAGR of 7.1% from 2020 to 2030 to attain a value of $162.5 billion by 2030.
• The Texas pipeline industry will generate more than $1.49 trillion in economic output, $903 billion in additional gross state product and $84 billion in state and local government revenues, over the next 40 years.
• The reduction in coal power generation capacity could be partly offset by a significant increase in the Czech Republic's renewable electricity generation capacity, adding 3.2 GW of new solar photovoltaics and wind by 2030.
• Electricity generated by wind, solar, hydro and biomass is expected to increase by 7% globally in 2020.

Last updated: 29 November 2020