Technologies to Reduce Emissions and Confront Climate Change
The S&P Global Commodity Insights Clean Energy Technology service provides in depth coverage of the supply chain economics and outlooks for batteries and energy storage. 10 cleantech trends to look out for in 2023:
- Component prices decline but do not immediately translate into lower renewable system capex.
- The rapid build-out of local manufacturing for solar and batteries is expected in the United States and Europe, driven by strong demand and energy security concerns.
- Distributed generation expands to new segments while business models evolve.
- Big energy statements in 2022 driven by acute energy needs must now “go from words to actions” to ease current blocks for renewables.
- Turnaround strategies of western turbine manufacturers will underpin the future competitiveness of wind energy.
- New announcements increase the gap between offshore wind targets and industry realities.
- The United States takes center stage in hydrogen and carbon capture, utilization, and storage (CCUS) development through the Inflation Reduction Act (IRA).
- CCUS continues to build momentum with the move from planning to action starting to shape up through strategic partnerships and collaboration.
- The energy crisis gives life extension to nuclear.
- Large opportunities arise for a broader range of clean, non-power energy technology options, particularly heat pumps.
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