Renewable energy now employs 11m people globally
Eleven million people were employed in renewable energy in 2018, compared with 10.3 million in 2017, according the International Renewable Energy Agency (IRENA). The organisation says that until now, renewable energy industries have remained relatively concentrated in a handful of major markets, such as China, the United States and the European Union. However, East and […]
The energy storage market ‘paving the way for next energy revolution’
The energy storage market has caught the eye of a number of stakeholders involved in the power industry, leading to its considerable growth and opening the way for the next energy revolution. So says GlobalData’s latest thematic report, Thematic Research: Energy Storage, which highlights the present scenario and emerging market trends across electrochemical, mechanical and […]
Data casts doubt on EU Emissions Trading System
The price of EUAs, the tradeable unit under the EU Emissions Trading Scheme (ETS), jumped from €7.00/tCO2e in 2018 to an 11-year high of €27.46/tCO2e at the beginning of April this year. During the last year, emissions under the carbon trading scheme in Europe fell by 3.5%. A new report, the ICIS Market Insight: The Impact of Higher Carbon […]
APAC shifting towards renewable energy auctions
Asia Pacific (APAC) countries are adopting several strategies and roadmaps to achieve the renewable energy targets designated by their governments. Countries such as India, Kazakhstan, Indonesia, Pakistan and Taiwan have implemented auctions to drive their renewable energy market, according to GlobalData. The company’s latest report ‘Asia Pacific Renewable Energy Policy Handbook 2019’ reveals that regulatory […]
Global battery energy storage market to grow to $13.13bn
The global battery energy storage market will grow to $13.13bn by 2023, with Asia-Pacific (APAC) and EMEA the dominant markets. The report from GlobalData reveals that a fall in technology prices and increasing pace of development in the power market are the primary driving factors for the growth. APAC will continue to be the largest […]
Building Energy Management Systems (BEMS) market to hit $8.7bn
The global BEMS market will reach $8,713.4 million by 2025, growing at a 12% CAGR, according to new research. Data from ResearchandMarkets asserts that BEMS is a globally evolving market that is poised for double-digit growth for the next 7 years, primarily driven by the trend of high peak demand charges, customers’ commitment towards sustainability, […]
Energy management systems market hit $25.9bn in 2018
The global energy management systems market was valued at $25.88 billion last year and is expected to register a CAGR of 13.78% by 2024. The figures, from ResearchandMarkets, pinpoint an increasing focus on managing energy consumption, optimizing the use of renewable energy sources, reducing the carbon footprint and greenhouse gas emissions as the main drivers […]
Battery thermal management needs highlighted by EV research
Frost & Sullivan research has revealed battery capacity has increased by more than 50kWh across all plug-in hybrid/battery electric vehicles (PHEVs/BEVs), while 150+kW batteries now come with fast-charging capabilities. These advances in battery technologies are creating a parallel need for a battery thermal management system (BTMS) to ensure higher mile range, longer life, and superior […]
High efficiency stadium lighting set to boom
LED lighting is poised to take over very high-output stadium and arena lighting, accounting for 70% of sports lighting in 2019 and boasting a growth rate of 44% by 2023. The study from ResearchandMarkets predicts that the stadium lighting market will to grow by almost $200 million by 2023, to reach $622.2 million. LEDLightExpert.com’s CEO […]
New build home energy bills ‘up £200’
The government’s 2015 decision to scrap the Zero Carbon Homes policy is costing occupants of new-build homes more than £200 per year on their energy bills. That’s according to a report from the Energy and Climate Intelligence Unit (ECIU), which says the £200 per year saving that would have resulted from the Zero Carbon Homes […]