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As of October 2025, the all-in capex for large, long-duration utility-scale BESS projects outside China and the US is approximately $125/kWh, resulting in a Levelised Cost of Storage (LCOS) of $65/MWh. This cost reduction is driven by cheaper Chinese-manufactured equipment, longer battery lifetimes, and improved efficiencies. Consequently, dispatchable solar—storing 50% of daily generation—is estimated to cost $76/MWh, making it a highly competitive option for meeting global energy demand growth.

Since 2000, Britain's offshore wind sector has grown to 16,000 MW of capacity, providing 17% of the country's total generation in 2024 and employing approximately 40,000 people. The industry has evolved from the 4 MW Blyth wind farm to massive projects like Hornsea 2 (1.3 GW) and the under-construction Dogger Bank (3.6 GW). While the 'Contracts for Difference' (CfD) model has influenced global policy and provided price stability for consumers, the sector currently faces supply chain bottlenecks and inflation. Future growth depends on standardising turbine components, expanding national manufacturing in areas like blade technology and deep-water foundations, and leveraging new investments from Great British Energy.

Colombia is projected to face a gas supply deficit starting in 2030, with domestic production and import capacity unable to meet demand. The report argues that this vulnerability can be mitigated by implementing energy efficiency measures in the industrial sector and electrifying cooking and water heating in the residential sector. Together, these actions could reduce 2030 gas demand by 21,545 GBtu, which is 1.5 times the projected deficit for that year. The authors recommend a planned exit from gas, including a national appliance replacement programme, the reorientation of subsidies toward electrification, and the limitation of new fossil fuel infrastructure to avoid carbon lock-in.

Viet Nam, Indonesia, and the Philippines collectively drive nearly 60% of ASEAN’s power demand and emissions, with a heavy historical reliance on coal. While coal still dominates their energy mixes, all three nations are pivoting toward clean energy, attracting $4.6 billion in investment in 2024. Each country aims for renewables to exceed 50% of their installed capacity mix by 2030–2034. Viet Nam has led the region in new wind and solar generation, the Philippines operates a fully liberalised electricity market to attract FDI, and Indonesia is leveraging its mineral industrialisation to build an electric vehicle ecosystem while planning significant solar expansions.

The report examines the diverse strategies employed by three major ASEAN economies—Viet Nam, the Philippines, and Indonesia—to unlock clean energy investments. Viet Nam is focusing on gradual liberalisation and corporate power purchase agreements (DPPA) to potentially double its renewable energy share. The Philippines is leveraging a long-standing liberalised market, utilizing Green Energy Auctions (GEA) and 100% foreign ownership to attract capital. Indonesia is implementing PPA reforms to manage currency risk and integrating carbon market mechanisms to incentivise developers, with solar identified as the most viable near-term expansion option.

The analysis of 10 MW solar projects in Viet Nam, the Philippines, and Indonesia reveals that PPA pricing and capital expenditures are the primary determinants of profitability. While project returns vary by country, integrating batteries can significantly boost the Internal Rate of Return (IRR), particularly in Indonesia and Viet Nam. The report highlights that a 10 percentage point change in PPA prices or capital costs can shift IRRs by up to 45 percentage points. Beyond technical economics, the document identifies policy bottlenecks—such as curtailment in Viet Nam and permitting delays in Indonesia and the Philippines—as critical risks to investment, while noting recent regulatory efforts like the Philippines' EVOSS and Indonesia's Presidential Regulation 112 to improve bankability.

Viet Nam, the Philippines, and Indonesia are transitioning from coal-reliant economies to renewable energy hotspots, collectively accounting for nearly 60% of ASEAN's power demand and emissions. While all three have set ambitious 2030 targets for renewables to exceed 50% of installed capacity, they face bottlenecks in permitting, grid infrastructure, and financial risk. The report highlights that solar-plus-battery integration significantly improves internal rates of return (IRR), particularly in Indonesia, and emphasizes the role of market reforms—such as Viet Nam's Direct Power Purchase Agreements and the Philippines' removal of foreign ownership restrictions—in attracting private capital.

The report finds that the EU is not on track to meet its 2030 interconnection targets, with 80% of the power system expected to miss the goal. To reach an optimal grid by 2040, Europe needs to nearly double its interconnection capacity, adding 151 GW. This expansion requires an estimated €150 billion in investment, leaving a €30 billion public funding gap in the proposed 2028-2034 Connecting Europe Facility for Energy (CEF-E) budget.

The report argues that the UK risks spending billions in public funds on unproven carbon removal technologies, such as power-BECCS and DACCS, which face significant delays and high costs. It highlights that a single project at Drax biomass power station could require £30 billion in subsidies, exceeding the entire national carbon capture and storage budget. The analysis notes that no commercial-scale project has yet begun construction or captured carbon, and warns that power-BECCS may not deliver genuine removals due to feedstock and supply chain emissions. The author recommends prioritising proven decarbonisation methods like renewables and heat pumps over these high-risk technologies.

Ember argues that Indonesia's energy transition requires more ambitious emissions targets and a stronger regulatory framework, particularly for the underregulated captive coal sector. The organization recommends integrating JETP investments with long-term economic diversification in coal-dependent provinces to ensure a just transition. Ember also highlights a significant gap in solar deployment, noting that Indonesia reached only 416 MW of on-grid solar capacity last year against a 2025 target of 4.1 GW, and calls for more transparent procurement processes by PLN.

Ember argues that Indonesia's JETP 2025 scenario is insufficiently ambitious, particularly regarding the captive power sector, where it suggests that integrating solar PV could significantly reduce emissions. The brief calls for the inclusion of captive power in peaking emission targets, the removal of solar quotas, and the redirection of JETP investments toward coal-producing provinces to mitigate fiscal vulnerabilities and job losses.

India has struggled to launch its offshore wind market despite a decade of policy efforts, with two major auctions called off in 2025. The brief identifies rigid pricing structures, a lack of local supply chains for high-capacity turbines, and transmission risks as primary barriers. It argues that India should move away from blunt competitive auctions for first-of-a-kind projects and instead adopt global best practices, such as flexible tariffs, 'ready-to-build' tender packages, and compensation for grid delays, to attract investment and develop domestic industry.

Ten years after the Paris Agreement, solar energy has transitioned from a marginal source to the fastest-growing electricity source globally, with leadership shifting from advanced economies to emerging markets. Brazil, China, and India have been central to this shift, collectively accounting for 60% of new solar capacity since 2015. The report highlights how national commitments (NDCs), international financing, and industrial policies—such as Brazil's renewable energy auctions and China's manufacturing scale—have drastically reduced costs and increased global deployment. By 2025, the world reached 2.2 TW of solar capacity, with the focus now shifting toward energy storage and grid reliability to ensure 24/7 availability.

The report details the transition of solar leadership from mature to emerging economies following the 2015 Paris Agreement. It highlights the exponential growth of solar power globally, rising from 1% of generation in 2015 to 8.8% in the first half of 2025. The document specifically examines the roles of Brazil, China, and India, noting that these three countries account for 60% of all new solar capacity since 2015. It attributes this surge to national targets (NDCs), international climate finance, and the establishment of the International Solar Alliance (ISA).

In the first three quarters of 2025, record solar and wind growth exceeded electricity demand increases, leading to a forecast of no fossil fuel growth for the full year—the first such occurrence since the Covid-19 pandemic.

While global renewable energy additions continue to break records, primarily driven by solar and China, current forecasts suggest a tripling by 2030 is not guaranteed without increased government ambition and implementation. The document highlights a misalignment between rapid deployment and national targets, which risks underinvestment in critical enabling systems such as grids, storage, and flexibility. It specifically emphasizes the need to scale up wind energy through supply chain unlocking and stable policy mechanisms, while urging parallel investment in infrastructure to prevent solar curtailment and bottlenecks.

Indonesia's coal production reached a record 836 million tonnes in 2024, but is projected to fall to approximately 755-756 million tonnes in 2025. This decline is driven by a contraction in export markets, particularly in China and India, where domestic production and renewable energy deployment are displacing Indonesian imports. While Indonesia's domestic demand continues to grow—driven by the power sector and metal processing industries—it is insufficient to offset the export losses. The report notes that Indonesia's long-term coal demand trajectory remains misaligned with Paris Agreement goals.

Global renewable capacity additions are projected to reach a record 793 GW in 2025, an 11% increase over 2024. This growth is primarily driven by solar energy and the significant deployment lead of China, which is expected to account for over two-thirds of global solar and wind installations in 2025.

National renewable energy targets for 2030 have increased by only 8% since COP28, rising from 7,238 GW to 7,793 GW. This trajectory aligns with a doubling of capacity rather than the tripling goal. While solar deployment is outstripping political ambition—with national targets at 3,110 GW despite forecasts exceeding 5,700 GW—wind targets and forecasts are more aligned but both remain below the 2,742 GW required for a global tripling.

The world is currently ahead of the curve to triple renewable capacity by 2030 due to an average annual addition growth of 29% from 2023 to 2025. However, IEA forecasts suggest a potential shortfall, with the main case predicting only 9,530 GW by 2030 due to policy changes in the US and China, primarily driven by deficits in wind and hydro capacity.