political, financial and policy support brightens …...political, financial and policy support...
TRANSCRIPT
Research PREVIEW for
Annual Renewable Energy Outlook 2014
Political, Financial and Policy Support
Brightens Outlook for Renewable Energy
Key Highlights
• Renewable energy installations in 2013 saw the continued, gradual shift in
market power to emerging economies, where economic growth and revised
energy priorities will drive a sustained increase in the adoption of renewable
energy.
• The cost of renewable energy has declined dramatically in recent years.
Overall, the cost of solar photovoltaic (PV) modules are estimated to have
dropped by 70% between 2008 and 2013, making solar more competitive
with fossil-fired power and driving accelerated adoption rates.
• Investments in renewable energy have declined in recent years, driven by
falling equipment costs and weaknesses in key regions such as parts of
Europe and the United States.
Source: Frost & Sullivan analysis.
Key Highlights (continued)
• Hydro power growth is increasingly driven by China (72% of new capacity in
2013), however, other key markets include Turkey, Brazil, Vietnam, India, and
Russia. Pumped storage investments in Europe have started to slow down.
• The wind power market is entering a more mature phase following a poor
2013, where weakness in Europe and the United States was only partly offset
by strong growth in China. Global wind capacity will grow from 279 gigawatts
(GW) in 2012 to 814 GW in 2025.
• Forecasts for solar PV have been upgraded further as declining costs boost
investor interest. Reduced policy support in parts of Europe will be offset by
booming markets such as China, the United States, and Japan. The position
of Chinese manufacturers is becoming more entrenched.
Source: Frost & Sullivan analysis.
• Global
Geographical Scope
Technologies Covered
Hydro Power
Wind Power
Solar PV
Concentrated Solar Power
Bioenergy and Waste
Geothermal Power
Marine Power
Aims and Objectives
• To provide an analysis of the key global trends
affecting the renewable energy market for
power generation during the course of the
current decade.
• To provide insight into growth opportunities with
a full analysis of the major markets in the global
energy and power sector.
Scope and Coverage
Source: Frost & Sullivan
34.9
28.3
2.4
4.0
18.6
20.7
2.1
2.9
26.7
23.2
6.1
8.1
5.8
7.6
3.5
5.2
0.0 10.0 20.0 30.0 40.0 50.0 60.0 70.0 80.0 90.0 100.0
Share of Global Non-hydro Renewable Energy Capacity Additions (%)
EU
Middle East & Africa
North America
Latin America
China
India
OECD APAC
ROW*
Annual Renewable Energy Outlook: Non-Hydro Renewable Energy Installed Capacity Share by Region,
Global, 2012, 2020, and 2025 2012 2020
Annual Renewable Energy Outlook: Non-Hydro Renewable Energy Capacity Additions by Region, Global,
2012–2025
Year
EU 42.0%
Middle East & Africa 0.5%
North America 21.0%
Latin America 3.3%
China 18.9%
India 5.2%
Other Dev. Asia 2.4%
OECD APAC 5.4%
ROW* 1.4%
EU 29.6%
Middle East & Africa 2.2%
North America 19.7%
Latin America 3.8%
China 26.3%
India 6.4%
Other Dev. Asia 2.3%
OECD APAC 8.3% ROW*
1.5%
EU 25.7%
Middle East & Africa 3.5%
North America 20.1%
Latin America 4.5%
China 25.9%
India 7.4%
Other Dev. Asia 2.8% OECD APAC
8.4%
ROW* 1.8%
Renewable Energy—Regional Balance Shift Excluding
Hydro
2025
Note: All figures are rounded. Source: Frost & Sullivan
*ROW is defined in the appendix section.
Annual Renewable Energy Outlook: Geothermal Installed Capacity Forecasts, Global, 2012, 2020, and 2025
Global geothermal capacity will grow from 11.6 GW in 2012 to 20.7 GW in 2020 and
29.4 GW in 2025. Capacity expansion is largely driven by North America,
Asia-Pacific as well as national and regional markets such as Turkey, Iceland, and
Eastern Africa.
1.6
1.0
0.2
2025 2020 2012
2012
2020
2012 2020 2025
2012 2020 2025
2012 2020 2025
2012 2025
North
America
Latin America
Europe*
OECD APAC
China
Africa
4.4
7.5
10.1
0.6 1.0
1.3
1.7
2.5
3.4
0.0 0.3 0.7
2020 2025
1.4
2.5
4.3
2020 2025
Southeast Asia
3.2
4.8
6.1
2012
Russia
2012 2020 2025
0.1 0.5
1.0
Geothermal—Installed Capacity Map
Note: All figures are rounded. The base year is 2012. Source: Frost & Sullivan
*Europe including Iceland
Section Slide Number
Executive Summary 3
Scope and Coverage 6
Renewable Energy Overview 8
Hydro Power 19
Wind Power 34
Solar Photovoltaics (PV) 49
Concentrated Solar Power (CSP) 63
Bioenergy and Waste 77
Geothermal Power 91
Marine Power 105
Appendix 121
The Frost & Sullivan Story 124
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