Global Power Generation Forecasts

Renewables to Dominate Investments Over the Next Decade

INDUSTRY
Energy

RELEASE DATE
22-Feb-2021

REGION
Global

DELIVERABLE TYPE
Market Research

RESEARCH CODE
K590-01-00-00-00

SKU
EG02135-GL-MT_25260

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Global Power Generation Forecasts
Published on: 22-Feb-2021 | SKU: EG02135-GL-MT_25260

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Description

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?

Table of Contents

Strategic Imperatives

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™

Growth Opportunity Analysis, Power Generation Industry

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)

Growth Environment (Solar), Power Generation Industry

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

Growth Environment (Wind), 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

Growth Environment (Gas), 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

Growth Environment (Hydropower), Power Generation Industry

Hydropower

Installed Hydropower Capacity Forecast by Region, Power Generation Industry

Hydropower Trends Forecast by Region, Power Generation Industry

Growth Environment (Oil/Diesel), Power Generation Industry

Oil/Diesel Power Outlook, Power Generation Industry

Installed Oil/Diesel Power Capacity Forecast by Region, Power Generation Industry

Growth Environment (Nuclear), 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

Growth Environment (Biomass), Power Generation Industry

Biomass Power Outlook, Power Generation Industry

Installed Biomass Power Capacity Forecast by Region, Power Generation Industry

Growth Environment (Coal), 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 Universe, 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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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.--BEGIN PROMO--