Empowering the Green Transition - Week 44/2024
This week, the latest advancements and strategic shifts in renewable energy and e-mobility showcase the dynamic growth of these sectors. We cover Tesla’s ambitious energy storage goals, a major market forecast for clean tech, Volkswagen’s restructuring amid market changes, and SolarEdge’s innovative demand response model for home batteries. Each story underscores the pivotal role technology is playing in reshaping energy management and sustainability. Dive into this week’s highlights to stay informed on trends driving the industry forward! ☕☀️🌿🚗🔋 Enjoy the read! ☕
Check out the video below for a quick summary of all this week's key insights:
Global market for clean technology set to hit $2 trillion by 2035
The International Energy Agency (IEA) published its Energy Technology Perspectives 2024 report, projecting that global demand for clean technologies—including solar PV, EVs, batteries, and wind—could nearly triple by 2035, reaching $2 trillion. The report highlights significant numbers, with battery demand expected to grow sixfold and the EV market alone potentially exceeding $1 trillion. This growth offers major economic opportunities but also underscores the need for robust policy and trade support to ensure resilience. Explore the IEA report for full insights here.
USA: Tesla set to double energy storage deployments in 2024
Tesla’s energy storage sector, driven primarily by its large-scale Megapack systems, is projected to double deployments in 2024. CFO Vaibhav Taneja attributes this growth to heightened demand from utility and commercial clients, alongside Tesla’s focus on scaling its global manufacturing capacity. Notably, a new 40 GWh Megapack factory in Shanghai, operational by 2025, will bolster Tesla's production outside the United States. Read more about Tesla’s energy storage operations in the full article here.
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Volkswagen to close multiple factories in Germany amid cost-cutting measures
Volkswagen Group has announced significant restructuring plans in Germany, which include closing three factories and downsizing additional sites, affecting tens of thousands of employees. The remaining staff will face pay cuts, while some operations may shift to external contractors. The adjustments align with Volkswagen’s efforts to streamline production costs amid industry shifts. You can read more about Volkswagen's strategic restructuring here.
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A Number of the Week: $700 billion
In 2023, the global market for key clean energy technologies—such as solar PV, wind, EVs, batteries, electrolyzers, and heat pumps — reached an impressive $700 billion, quadrupling since 2015. This remarkable growth underscores the rapid expansion and investment momentum within the clean energy sector, driven by increasing demand for sustainable energy solutions. For a comprehensive analysis, read the full report from the International Energy Agency here.
SolarEdge and Frank Energie introduce a demand response revenue model for home batteries
In a new demand response model, SolarEdge Technologies and Frank Energie allow Dutch homeowners to maximize battery earnings by responding to fluctuating electricity prices. This setup integrates SolarEdge's advanced software, enabling users to store or use energy based on real-time market signals, optimizing both energy savings and income. For more on this partnership and demand response potential, read the full article here.
Join our webinar: OpenADR 3.0 - evaluating the currency & future potential of this critical grid protocol
Discover how OpenADR 3.0 can unify grid communication across diverse applications. Codibly’s Spencer Borison, alongside grid protocol expert Bruce Nordman from Berkeley Lab , will explore how this protocol supports demand response, VPP architecture, and global energy management harmonization. Gain insights on standardizing pricing and capacity management essential for the next phase in energy markets.
📅 Date: November 7, 2024
⏰ Time: 4 PM CET / 10 AM EST / 7 AM PST
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