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Benchmark: global battery industry needs to invest $514B to meet demand in 2030; $920B by 2035

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Globally, the battery industry needs to invest at least $514 billion across the whole supply chain to meet expected demand in 2030, and $920 billion by 2035, according to a new analysis by Benchmark. Demand for lithium ion batteries is forecast to grow to 3.7 However, batteries are the fastest-growing demand market for nickel.

Industry 243
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Bloomberg NEF forecasts falling battery prices enabling surge in wind and solar to 50% of global generation by 2050

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This year’s outlook is the first to highlight the significant impact that falling battery costs will have on the electricity mix over the coming decades. BNEF predicts that lithium-ion battery prices, already down by nearly 80% per megawatt-hour since 2010, will continue to tumble as electric vehicle manufacturing builds up through the 2020s.

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Global wind turbine order intake reached new highs in H1 2024

Baua Electric

Photo: DongFang Electric Corporation Global wind turbine order intake reached new highs in H1 2024, with 91.2 Globally, investment by wind energy developers in H1 2024 totaled $42 billion, a 3% increase year-over-year, according to new analysis from Wood Mackenzie. China remains the undisputed leader in the industry.”

Wind 52
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MITEI study finds hydrogen-generated electricity is a cost-competitive candidate for backing up wind and solar

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A team at MITEI (MIT Energy Initiative) has found that hydrogen-generated electricity can be a cost-competitive option for backing up wind and solar. Low- and zero-carbon alternatives to greenhouse-gas emitting peaker plants are in development, such as arrays of lithium-ion batteries and hydrogen power generation.

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Massachusetts & Rhode Island make history with largest offshore wind projects yet

Baua Electric

Photo: Worldview Films via Vineyard Wind 1 Massachusetts and Rhode Island have selected 2,878 megawatts (MW) of offshore wind power in the region’s first-ever coordinated procurement. This wind power will bring clean energy to over 1.4 The economic ripple effects of these projects will be massive.

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Oregon to get a massive 900 MW solar + battery storage project

Baua Electric

Photo: Oregon Solar + Storage Industries Association Brookfield Renewable US has filed a Notice of Intent to develop one of Oregon’s largest solar + battery storage projects. Brookfield has not yet shared how much battery storage it intends to use, but the solar farm could potentially power up to 150,000 households.

Oregon 52
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Iberdrola to invest more than €1.1B to build a green hydrogen and methanol plant in Australia; Bell Bay Powerfuels

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A small dimethyl ether (DME) plant will be built either onsite or at another location, producing renewable DME from methanol for local industry. The company has currently installed 1,122 MW of renewables (wind, solar and batteries). Overall Bell Bay facility flow scheme including key processing units, inputs and products.

Australia 435