Kuwait is grappling with relentless heat, aging infrastructure and unplanned power outages, prompting major investments in grid reliability. Today, renewables account for less than 1% of Kuwait’s electricity generation, but the country aims to grow that to 15% by 2030, with natural gas serving as a crucial transitional fuel. However, Rystad Energy analysis shows this lofty target could be out of reach. Our current projections estimate renewable capacity will only reach 3.3 gigawatts (GW) by 2030, just 7% o ...

Investment Rating - The report does not explicitly state an investment rating for the industry Core Insights - The global energy transition is significantly driven by the increasing share of renewable energy, which is projected to reach 63.6% of total installed capacity by 2029, up from 43.8% in 2023 [16] - The solar photovoltaic (PV) segment is the fastest-growing renewable energy source, with a projected CAGR of 24.4% from 2024 to 2029 [21] - The energy storage system (ESS) market is expected to see substantial growth, with annual shipments projected to reach 793.0 GWh by 2029, reflecting a CAGR of 31.1% from 2024 to 2029 [51] Chapter Summaries Chapter 1: Overview of Global Solar Photovoltaic Market - The share of renewable energy in global electricity generation increased from 25.2% in 2019 to 29.1% in 2023, expected to reach 45.0% by 2029 [16] - The cumulative installed capacity of solar PV grew from 586 GW in 2019 to 1,467 GW in 2023, with a CAGR of 25.8% [25] - The global solar PV market is driven by dual carbon goals, ESG criteria, energy security, technological improvements, rising electricity demand, government incentives, and international cooperation [26] Chapter 2: Overview of Global Energy Storage System Market - Energy storage systems (ESS) are categorized into mechanical, electromagnetic, electrochemical, thermal, and chemical storage technologies [36] - The demand for ESS is increasing due to the need for stability in energy prices and the intermittency of renewable energy sources [36] - The global ESS market is expected to grow significantly, driven by the expansion of renewable energy projects and the need for energy efficiency [51] Chapter 3: Development of the Global Fully Modular Energy Storage Solution Market - Fully modular energy storage solutions are gaining traction due to their advantages over traditional non-modular systems, including flexibility and efficiency [29] - The market for fully modular energy storage systems is expected to expand as technological advancements continue to improve performance and reduce costs [29] Chapter 4: Global Fully Modular Energy Storage Market: Competition & Case Studies - The report provides an overview of key players in the fully modular energy storage market, highlighting competitive dynamics and case studies [34]

Global Energy Investment Overview - Global energy investment is projected to reach USD 3.3 trillion in 2025, a 2% increase from 2024, with clean energy investments totaling USD 2.2 trillion, accounting for two-thirds of total investments, while fossil fuel investments are expected to be USD 1.1 trillion [1][21][58] - The uncertainty in economic and trade outlooks has led some investors to adopt a cautious approach towards new project approvals, although spending on existing projects remains unaffected [21][22] Power Sector Investment - The electricity sector is set to receive USD 1.5 trillion in investments by 2025, which is 50% higher than investments in fossil fuel supply [2][24] - Solar photovoltaic (PV) investments are expected to reach USD 450 billion, making it the largest single investment area, with significant contributions from Chinese exports to developing economies [2][25][27] - Battery storage investments are projected to grow to USD 66 billion, while grid investments are lagging behind, with annual spending at USD 400 billion [2][30] Fossil Fuel Supply Dynamics - Investments in fossil fuels are experiencing their first decline since 2020, with upstream oil investments decreasing by 4% and natural gas investments remaining stable [3][31] - Coal investments are expected to grow by 4%, primarily driven by demand in China and India, while low-carbon fuel investments are projected to reach USD 30 billion [3][35][36] Demand Side and Electrification - Investments in electrification and energy efficiency are expected to reach USD 800 billion by 2025, nearly doubling over the past decade, with electric vehicle sales significantly contributing to this growth [4][37] - The building sector is seeing a slowdown in energy efficiency investments due to policy changes, but demand for efficient appliances is rising [4][37] Regional Investment Trends - China leads global energy investments, accounting for nearly one-third of clean energy investments, while the U.S. and Europe focus on grid, storage, and hydrogen energy [5][41] - Developing economies, particularly in Africa, face significant investment imbalances, with Africa only accounting for 2% of global clean energy investments despite having 20% of the world population [5][42] Financing and Innovation - Commercial financing dominates energy investments, making up 75% of the total, while developing economies rely heavily on international public funding [6][44] - Clean energy R&D spending continues to grow, but venture capital investment in energy has declined, with a shift towards AI-related projects [6][49] Summary of Challenges and Path Forward - The report highlights the need for increased investments in renewable energy, grids, and storage to meet net-zero targets, while addressing bottlenecks in policy frameworks and financing [7][50][52]

Summary of Global Energy Review 2025 Industry Overview - The report focuses on the global energy sector, analyzing trends in oil, gas, coal, renewables, and nuclear power, as well as energy-related carbon dioxide (CO2) emissions [2][3][8]. Key Findings - **Energy Demand Growth**: Global energy demand increased by 2.2% in 2024, surpassing the average growth rate of 1.3% from 2013 to 2023. Electricity demand surged by 4.3%, driven by extreme temperatures, electrification, and digitalization [14][19][20]. - **Renewables Dominance**: Renewables accounted for 38% of the growth in global energy supply, followed by natural gas (28%), coal (15%), oil (11%), and nuclear (8%) [14][21]. - **Regional Contributions**: Emerging and developing economies contributed over 80% of global energy demand growth, with China and India leading in absolute terms. China's energy demand growth slowed to under 3%, while India saw significant increases [14][28][31]. Sector-Specific Insights - **Oil Demand**: Global oil demand growth slowed to 0.8% in 2024, down from 1.9% in 2023. Oil's share of total energy demand fell below 30% for the first time, reflecting a shift towards electric vehicles and alternative energy sources [14][46][49]. - **Natural Gas**: Natural gas demand grew by 2.7%, reaching a new all-time high, with significant contributions from emerging markets in Asia. The demand was primarily driven by industrial use and electricity generation [62][65][66]. - **Coal Consumption**: Global coal demand rose by 1%, primarily due to increased electricity consumption driven by high temperatures. China remained the largest coal consumer, accounting for 58% of global coal use [16][35]. - **Electricity Generation**: Electricity consumption increased by nearly 1,100 terawatt-hours (TWh) in 2024, with renewables and nuclear power providing 80% of the growth in global electricity generation [16][20]. Environmental Impact - **CO2 Emissions**: Energy-related CO2 emissions increased by 0.8% in 2024, influenced by extreme weather conditions. The deployment of clean energy technologies has prevented an estimated 2.6 billion tonnes of CO2 emissions annually [10][18][24]. - **Energy Intensity**: Improvements in energy intensity slowed to 1% in 2024, down from an average of 2% annually between 2010 and 2019. This slowdown is attributed to high energy demand and less efficient fuel consumption [41][42]. Additional Observations - **Impact of Weather**: Extreme temperatures contributed approximately 15% to the overall increase in global energy demand, significantly affecting electricity and natural gas consumption [37][38]. - **Electric Vehicle Growth**: Global sales of electric cars rose by over 25%, surpassing 17 million units, indicating a significant shift towards electrification in the transport sector [16][20]. This comprehensive analysis highlights the evolving dynamics of the global energy sector, emphasizing the transition towards renewable energy sources and the implications for future energy policies and investments.