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Gerard Reid Profile picture
@gerardreid14
May 20 • 3 tweets • 3 min read Twitter logo Read on Twitter
The #battery revolution continues which is why there is so much money going into new capacity. At the end of last year, there was 660 GWh of #lithiumion battery production capacity in the world. According to the @IEA an additional 1078 GWh of new capacity is due to come online. Image
The global market for #solar in 2022 reached approximately 250 GW, with production capacity at the end of the year totaling 640 GW - which explains why solar module prices are down over 10% and why the market could be 1GW a day in 2023 Image
Furthermore, an additional 294 GW of new #solar capacity is expected to come online. This adds up to a total of 930 GW of capacity, which, if delivered within one year, would nearly double the global installed base of solar energy! Image

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More from @gerardreid14

Gerard Reid Profile picture
May 18
The pace of #innovation in electric vehicles is mind-blowing. It's not just about #batteries, but also #electricdrives, #powerelectronics, #software, and #batterymanagement. Image
These advancements mean better #energyefficiency, increased range, and lower costs. With fewer parts, economies of scale will soon make electric vehicles as affordable as internal combustion engines. The future is electric! ⚡️🚗 #EVs #CleanTransportation Image
Long-haul trucking and farm & mining equipment pose interesting challenges. Will it be all #batteries or a combo of #fuelcells and batteries? My bet is on batteries dominating the field due to their innovation and scalability. Fuel cells are still in their early stages Image
Read 4 tweets
Gerard Reid Profile picture
May 14
One of the biggest challenges for #solar and #wind is integrating more renewable energy into the power system. How can we do this effectively? #renewableenergy #cleanenergy
To encourage the buildout of renewables, we need strong financial incentives. Finding the right mechanisms is crucial for a successful energy transition. #renewableenergy #financialincentives
Impressive! #Denmark consistently meets 85% of its weekly energy needs from #renewables. They are leading the way in sustainable energy production. #cleanpower Image
Read 5 tweets
Gerard Reid Profile picture
May 13
As the @BMWK considers continuing the subsidization of #energy prices; back in the real world power prices in #Germany will be zero for a large part of the weekend, as they are every second weekend. Image
Meanwhile in the #netherlands today you can be paid EUR100/MWh to take power… Image
#spain will also have zero power prices as it did yesterday Image
Read 8 tweets
Gerard Reid Profile picture
Apr 15
Research Report of the Week: The #Global #Electricity Review from Ember which is full of incredible information on what is going on in the world of electricity, #renewables etc

ember-climate.org/insights/resea…
1. #Wind and #solar reach a record 12% of global electricity in 2022 Image
2. In 2022 growth in #renewables met 92% of the increase in global electricity demand Image
Read 8 tweets
Gerard Reid Profile picture
Feb 25
It is ironic that #BASF the the biggest #chemical company in the world and largest #energy user in #europe published its annual results yesterday, on the anniversary of the start of the invasion of #Ukraine by #Russia.
The impact for #BASF is massive. The company:
- Generated a net loss of EUR627 in 2022, down from EUR5.5bn in 2021
- Spent an extra EUR3.2bn in higher #energy costs last year, EUR2.7bn of which was in #europe
The good news for #BASF is that they have over the last years moved the business beyond #germany and #europe with the #Chinese business now more important and profitable than the #europe.
Read 4 tweets
Gerard Reid Profile picture
Dec 24, 2022
My big wish for #European #energy in 2023 is that the @EU_Commission and European #governments push the rollout of #smartmeters and #smarttariffs across the continent.
Why do I say that? Because #smartmeters and #smarttariffs give #energy customers the ability to control their own destiny by enabling them to switch off and on devices depending on how expensive #powerprices are.
#smartmeters and #Smarttariffs enable new #businessmodels such as what @OctopusEnergy are offering. In addition, #digitalisation will allow the smoother and quicker integration of #EVs into the system as well as smart #heating.
Read 5 tweets

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