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World Energy Investment 2025 European Union
…connection queues and difficulties in transmitting cheap renewable electricity from southern parts of the European Union to high-demand areas. These challenges are compounded by supply chain constraints, with EU component prices having more than doubled over the last decade. Moreover, trade in transformers is dominated by China, which accounts for 60% of EU imports.The European Union also faces the challenge of deeper market integration. Despite significant investment in low-emissions technologies, average energy prices in Europe are higher than in other major economies. The EU energy market has also experienced notable disparities in spot prices among member states…
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World Energy Investment 2025 Southeast Asia
…fired power plants with transition finance. Southeast Asia is playing a growing role in clean energy manufacturing supply chains. In 2023 Viet Nam, Thailand and Malaysia were the world’s largest solar PV manufacturers after China. Further, the region holds rich reserves of critical minerals. Indonesia produces more than 60% of the world’s nickel, attracting over USD 50 billion of investment in greenfield mining between 2014 and 2023, over 90% of the global total. Chinese investment is driving Indonesia’s nickel refinery sector, amounting to USD 30 billion in 2024, and Chinese companies account for around 75% of refining capacity in the country.
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Ramping up Heat Pumps in Moldova: A Roadmap Heat pumps in Moldova
…ambient air as a heat source. Air-source heat pumps can provide heating either via air (air-to-air heat pumps) or water (air-to-water heat pumps). Air-to-air heat pumps are common in the United States, Canada, the People’s Republic of China (hereafter “China”), Australia, Norway and Sweden, where they typically supply heating (and cooling) through ductwork or by installing multiple units in various rooms of a building.Air-to-water heat pumps – also known as hydronic heat pumps – use a water-based distribution system to provide warm water to radiators. These are most common in…
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Electricity Mid-Year Update 2025 Executive summary
…a halt in 2024 following consecutive declines in 2022 and 2023, a significant recovery has still not been observed as of the first half of 2025. The first half of 2025 showed contrasting trends across regions in thermal generation In the first half of 2025, while coal-fired generation declined year-on-year in China and India, it increased in the United States and the European Union. The declines in China and India were due to more moderate demand growth compared with the same period in 2024 and strong expansion in output from renewables. By contrast, in the United States…
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Electricity Mid-Year Update 2025 Demand: Global electricity use to grow strongly in 2025 and 2026
…fast pace, as factory output of new energy vehicles and solar cells was up by 36% and 18% y-o-y, respectively, in H1 2025, while production of batteries rose by 51%. Electricity consumption in the residential sector increased by 4.9% in H1 2025, underpinned by greater penetration of appliances, which saw retail sales rise 31%, and a sharp increase in cooling degree days in June.The rapid rise in electric vehicle sales combined with the robust expansion of charging infrastructure continued to further support Chinese electricity demand growth in the first half of the year. China, where the shar...
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Electricity Mid-Year Update 2025 Supply: Renewables grow the most, followed by gas and nuclear
…year before. We project a rebound of more than 2% in 2026, assuming normal hydrological conditions.Nuclear power generation is set to hit a new record in 2025, and will continue to rise in 2026. This is fuelled by restarts in Japan, commissioning of new reactors in China, India, Korea and other countries, along with robust output in the United States and France. We forecast global nuclear generation to grow on average close to 2% over the period 2025-2026.Global gas-fired generation is expected to increase by 1.3% in 2025 and reach a new high, following growth…
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Coal Mid-Year Update 2025 Overview
…and hydro output and higher gas prices.Despite such trends in the first half of the year, our full-year forecast for global coal demand in 2025 is little changed from the one published in our annual Coal 2024 report in December 2024. The structural drivers underlying coal demand remain the same, both in the electricity and industrial sectors. On a global level, the main regional changes compared with our December forecast cancel each other out. In China and India, demand will be weaker than foreseen, but this is offset by higher-than-expected coal demand in the European Union...
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Coal Mid-Year Update 2025 Prices
…Newcastle 6 000 kcal/kg FOB went down to USD 125 per tonne, while Indonesian 4 200 kcal/kg FOB hovered around USD 50 per tonne.In Spring 2025, coal markets exhibited greater stability, with more muted movements compared to the volatility of previous years. Thermal coal prices declined due to ongoing stock surpluses in China and India and falling demand in Europe. However, first-quarter 2025 European demand exceeded expectations as coal offset low wind and hydro power generation. The metallurgical coal market experienced a moderate decline in prices over the same period. Although adverse weather conditions and logistical disruptions in Queensland constrained…
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Global Hydrogen Review 2025 Demand
…refineries and industrial facilities by 2030. This could be complemented by additional supply provided by merchant projects.In road transport, heavy trucks remain the only fast-growing market for fuel cell electric vehicles, despite their higher total costs of ownership when compared to battery electric or diesel trucks. China remains the leader, with almost 95% of the world’s fuel cell commercial vehicles stock.In shipping, the fleet of ships able to use hydrogen-based fuels is growing and offtake agreement activity has increased, but concerns about supply availability are slightly slowing down momentum. The recent approval of the IMO…
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Global Hydrogen Review 2025 Production highlights
…expected to narrow by 2030, with China reaching cost competitiveness thanks to low technology costs and a low cost of capital, and other regions reducing the cost gap significantly due to the combination of high cost of imported natural gas, good renewable resources and policy action in the form of CO2 prices (e.g. Europe, Latin America) .China leads on electrolyser manufacturing, deployment and cost-competitiveness. This has raised concerns about a repetition of the story of the solar PV or battery sectors, for which China now holds the large majority of the supply chain, having overtaken other regions that…