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Global Power Generation Forecasts
Renewables to Dominate Investments Over the Next Decade
22-Feb-2021
Global
Market Research
K590-01-00-00-00
EG02135-GL-MT_25260
In terms of power generation investment, the 2020s will continue a trend that has gained pace in the 2010s – the rise of renewable energy. The continued move away from carbon-intensive power will gain popularity as renewable energy sources become increasingly cost-competitive against fossil fuels. Increased investment in transmission and distribution lines, digital grid solution propositions, and energy storage will minimize renewables' curtailment in the future.
Global total installed generation capacity is forecast to increase from 7,180.60 GW in 2020 to 10,532.45 GW by 2030 at a 3.9% CAGR. Total power investment is likely to grow from $408.35 billion in 2020 to $545.00 billion in 2030 at 2.9% CAGR. China and Asia-Pacific will lead in investment, as China seeks to minimize carbon emissions growth and Asia-Pacific invests in reducing the region's current supply deficit. Renewables, combined with nuclear power, which will see high investment levels over the decade, will account for 90% of investment in 2030.
For developing nations, coal will continue to play an essential role in energy supply, even as new investment declines fast. Total coal installed power is forecast to fall by 306.37 GW from 1,937.17 GW in 2020 to 1,630.80 GW in 2030, when new coal investment will be close to zero. North America and Europe will dominate coal closures. High gas availability and lower prices will drive new investment in gas-fired plants, with capacity increasing by 417.4 GW between 2020 and 2030. A limited number of gas-fired plants will go offline as they face economic challenges against renewable energy. The majority will still stay online past their operational life expectancy thanks to advanced service and maintenance propositions. Solar PV installed capacity is forecast to increase by 2,063.26 GW, while wind power installed capacity rises by 915.27 GW between 2020 and 2030.
The study covers solar, wind, gas, hydropower, oil/diesel, nuclear, biomass, and coal power. It includes various distributed and centralized power sources by investment and discusses regional trends and future outlook for each power source.
Key Issues Addressed
- What will be the total power installed and generated by 2030?
- How the investment in different power sources will pan out by 2030?
- What is driving investment in the various regions?
- What are the key growth opportunities for power generation companies?
Why is it Increasingly Difficult to Grow?
The Strategic Imperative 8™
The Impact of the Top Three Strategic Imperatives on the Power Generation Industry
Growth Opportunities Fuel the Growth Pipeline Engine™
Key Findings, Power Generation Industry
Growth Aspirations, Power Generation Industry
Power Generation Industry Scope of Analysis
Annual Capacity Installation Forecast by Region, Power Generation Industry
Total Power Generated Forecast by Region, Power Generation Industry
Total Power Investment Forecast by Region, Power Generation Industry
Total Power Investment Forecast by Renewability and Region, Power Generation Industry
Total Power Investment Forecast by Type and Region, Power Generation Industry
Fuel Mix Outlook, Power Generation Industry
Fuel Mix Outlook, Power Generation Industry (continued)
Solar Power Outlook, Power Generation Industry
Installed Solar Power Capacity Forecast by Region, Power Generation Industry
Installed Solar Power Capacity Forecast by Segment, Power Generation Industry
Annual Solar Power Investment Forecast by Segment, Power Generation Industry
Utility Solar Power Cost Forecast by Region, Power Generation Industry
Solar Power Trends Forecast by Region, Power Generation Industry
Onshore Wind Power Outlook, Power Generation Industry
Offshore Wind Power Outlook, Power Generation Industry
Installed Wind Power Capacity Forecast by Region, Power Generation Industry
Installed Wind Power Capacity Forecast by Segment, Power Generation Industry
Annual Wind Power Investment Forecast by Segment, Power Generation Industry
Wind Power Trends Forecast by Region, Power Generation Industry
Gas Power Outlook, Power Generation Industry
Installed Gas Power Capacity Forecast by Region, Power Generation Industry
Installed Gas Power Capacity Forecast by Equipment Type, Power Generation Industry
Annual Gas Power Investment Forecast, Power Generation Industry
Gas Power Trends Forecast by Region, Power Generation Industry
Hydropower
Installed Hydropower Capacity Forecast by Region, Power Generation Industry
Hydropower Trends Forecast by Region, Power Generation Industry
Oil/Diesel Power Outlook, Power Generation Industry
Installed Oil/Diesel Power Capacity Forecast by Region, Power Generation Industry
Nuclear Power Outlook, Power Generation Industry
Installed Nuclear Power Capacity Forecast by Region, Power Generation Industry
Nuclear Power Trends Forecast by Region, Power Generation Industry
Biomass Power Outlook, Power Generation Industry
Installed Biomass Power Capacity Forecast by Region, Power Generation Industry
Coal Power Outlook, Power Generation Industry
Installed Coal Power Capacity Forecast by Region, Power Generation Industry
Annual Coal Power Investment Forecast, Power Generation Industry
Installed and Annual Decommissioned Coal Capacity Forecast, Power Generation Industry
Coal Power Trends Forecast by Region, Power Generation Industry
Growth Opportunity 1—Turbines Servicing
Growth Opportunity 1—Turbines Servicing (continued)
Growth Opportunity 2—Repowering Renewable Energy Assets
Growth Opportunity 2—Repowering Renewable Energy Assets (continued)
Growth Opportunity 3—Plants Decommissioning
Growth Opportunity 3—Plants Decommissioning (continued)
Growth Opportunity 4—Digitizing Power Assets
Growth Opportunity 4—Digitizing Power Assets (continued)
List of Exhibits
List of Exhibits (continued)
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