In March 2021, the Biden administration set a goal of deploying 30 GW of offshore wind capacity in the U.S. by 2030. These efforts have faced significant growing pains, however, exacerbated by the COVID-19 pandemic and follow-on impacts such as inflation. Reaching 30 GW by 2030 increasingly appears difficult, if not impossible, to achieve. Prior to 2021, there were just two operational offshore wind farms in the country, both off the East Coast. Ørsted predecessor DONG Energy’s Block Island Wind, a five-turbine wind farm with 30 MW of capacity, came online in 2016, and Ørsted and Dominion Ener ..read more

The pace of electric vehicle (EV) sales growth has slowed down based on the most recent North American EV sales data. Tesla, which owns more than 50% of U.S. EV market share, saw lower profit margins in 2023 because of meaningful price cuts to the Model 3 and Model Y. The broader slowdown can be attributed to many factors like the lack of charging infrastructure, higher interest rates and market saturation among enthusiasts. Does this mean EV hype has run out of gas? Unlikely. Although the EV adoption rate has slowed in the near term, the inevitability of price and range parity will superchar ..read more

CALGARY, Alberta (May 1, 2024) — Enverus Intelligence Research (EIR), a subsidiary of Enverus, the most trusted generative AI and energy-dedicated SaaS company, has released a collection of research focused on expected growth in data center capacity and associated power demand. “Data centers are among the least price sensitive consumers of power, said Carson Kearl, report author and EIR analyst. “This presents an opportunity for high capital cost carbon free energy. “Data center capacity growth will not translate one-to-one into net new load growth, operators will be on the hunt for cheap inte ..read more

CALGARY, Alberta (April 30, 2024) — Enverus Intelligence Research (EIR), a subsidiary of Enverus, the most trusted generative AI and energy-dedicated SaaS company, has released a report that quantifies the potential electrification of oil and gas assets in the Permian Basin based on operators’ emissions reduction targets and its impact on grid demand, transmission flows and the generation required to serve this growing load. “We see Far West Texas power demand more than doubling by 2040 due to electrification trends and cryptocurrency mining growth,” said Riley Prescott, senior associate at EI ..read more

In the fast-paced world of energy trading, where every fluctuation in supply and demand can have significant implications, weather events wield unparalleled influence over power pricing. Natural phenomena, like sudden storms, prolonged heatwaves or even just an anomalously windy day, can disrupt energy production, alter consumption patterns and send prices soaring or plummeting at a moment’s notice. But amidst this volatility lies an opportunity – the chance to leverage advanced forecasting tools like Mid-Term Nodal Renewable Forecasting to navigate the complexities and risks of the everchangi ..read more

U.S. renewables developers Arevon Energy, Longroad Energy Holdings and Broad Reach Power showed the most improvement among the top 20 wholly owned renewable energy portfolios under construction in Q1, according to an analysis using Enverus Core data presented in the most recent issue of Energy Transition Pulse. All three companies roughly cut their ranks in half on the top 50 leaderboard, with more than 2 GW of combined project additions breaking ground. The lion’s share of those capacity additions were attributable to Broad Reach, which moved up to the sixth spot by adding eight projects unde ..read more

Renewable energy adoption continues to rise, signaling a promising shift towards sustainable power sources. Industry challenges persist, from grid operation perspectives to new regulatory policies and supply chain constraints. To stay on top of the latest developments in this area, you should attend CLEANPOWER 2024. Enverus Intelligence® Research (EIR) identifies five key trends you should know before attending this year’s CLEANPOWER to give you an added advantage. From solar power to energy storage innovations and transportation electrification, these trends are shaping the future of renewabl ..read more

CALGARY, Alberta (April 23, 2024) — Enverus Intelligence Research (EIR), a subsidiary of Enverus, the most trusted generative AI and energy-dedicated SaaS company, is releasing its summary of 1Q24 upstream M&A activity. Following last year’s blockbuster $192 billion in U.S. upstream consolidation, 1Q24 would be on track to surpass that record with $51 billion in announced deals. However, EIR is pumping the brakes on another record-setting year as deal activity has slowed significantly in March and Q2 appears to have already lost momentum. “Deals at the start of 2024 were driven by the same ..read more

Europe’s energy market is weathering a storm of transformations. With natural gas inventory at peak levels thanks to a diversified supply chain and falling prices, traders and analysts face an evolving challenge unlike any other. Amid this flux, Enverus’s MarketView® emerges as a pivotal tool, tailored with 122 fresh gas, power and energy transition products for the European sector, enabling professionals to steer through the tumultuous market with finesse. The Complexity of Supply Dynamics Consider the present scenario where Europe’s gas storage brims at 59%, a figure set to rise. With Marke ..read more

The levelized cost of energy (LCOE) serves as a valuable measure for assessing the economic viability of a specific project or energy source. Put simply, a lower LCOE suggests that a project is more efficient in generating electricity. This metric is primarily influenced by three main factors: initial capital investment, ongoing operational expenses and the total electricity output throughout the asset’s lifespan. As depicted in Figure 1, most regions exhibit after-tax LCOEs ranging from $30 to $40 per megawatt-hour (MWh), with the exception of NYISO. In NYISO, LCOEs are comparatively ..read more