This update highlights how strategic investment, policy support, and industrial innovation are accelerating the development of CO₂ storage infrastructure. While Europe is on a clear path to meet and exceed its Net-Zero
In the last fifty years, Norway has accumulated an enormous oil wealth. But the Norwegian oil age is nearing an end, as demand for oil and gas is expected to decrease. In the
The latest edition of the European Market Monitor on Energy Storage by LCP Delta and The European Association for Storage of Energy (EASE), released today, highlights Europe''s rapid expansion in energy storage capacity, which
Commercial roadmap includes: first joint bGen TES projected expected to launch in 2027, three projects worth $50 million by 2030, and develop a pipeline of 15-20
In the last fifty years, Norway has accumulated an enormous oil wealth. But the Norwegian oil age is nearing an end, as demand for oil and gas is expected to decrease. In the years ahead, Norway must develop new
More ambitious policies in the US and Europe drive a 13% increase in forecast capacity versus previous estimates New York, October 12, 2022 – Energy storage installations around the world are projected to reach a
DNV, the independent energy expert and assurance provider, forecasts that capture and storage capacity is expected to quadruple by 2030. Up to now, growth has been
This investment represents a clear pathway to supplying 100% of U.S. energy storage projects with American-made batteries by 2030. A pro-business environment,
Across all segments, including residential, commercial and industrial, and utility-scale, energy storage had year-over-year deployment growth in 2024. "The energy storage industry has quickly scaled to meet the moment
In 2023, the commercial and industrial (C&I) energy storage sector saw a significant uptick in installations, marking a pivotal moment with 4.77 gigawatt-hours (GWh) of energy storage capacity added. This surge was
Norway''s energy collaboration with the EU and European players has become closer and more important not only in the oil and gas sector, but also for new value chains such as offshore
Several key factors influence the ROI of a BESS. This article explores the various factors influencing the return of investment of BESS.
Up to 2030, continued strong growth in less energy-intensive service industries is expected, in line with structural changes that have occurred in recent decades.
6 天之前· Located in Norway, Northern Lights is the world''s first CO2 transport and storage project open to industry, owned equally by TotalEnergies, Equinor and Shell. Operational since 2024, the first phase of the project can store up to
Battery energy storage – a fast growing investment opportunity Cumulative battery energy storage system (BESS) capital expenditure (CAPEX) for front-of-the-meter (FTM) and behind-the-meter
Energy shifting and flexibility services provided by energy storage are indispensable for system reliability and securing supply of energy to cope with moments of low renewables and also
TotalEnergies, in partnership with Equinor and Shell, has announced the Final Investment Decision (FID) for the second phase of the Northern Lights carbon capture and
By 2025, battery prices could dip below $100/kWh, making energy storage an even more cost-effective solution. 🏛️ Tailwinds of the IRA: The Inflation Reduction Act (IRA) helps accelerate record-setting growth in energy
The material-based hydrogen energy storage market is projected to grow globally at a CAGR of 12.1% between 2025 and 2035, supported by advancements in solid
Tripling renewable capacity by 2030 depends on 93% of growth from solar and wind, requiring greater energy system flexibility from clean sources - energy storage offers this cost-effectively;
Oslo, Norway – Cumulative investment in carbon capture and storage (CCS) is expected to reach USD 80 billion over the next five years, according to DNV''s new Energy Transition Outlook: CCS to 2050 report. DNV,
The aim is to further promote the integration of renewables into the wider energy system which will stimulate energy storage growth in turn. Additionally, IRENA has conducted a study on electricity storage costs and
Up to now, growth has been limited and largely associated with pilot projects but a sharp increase in capacity in the project pipeline indicates that CCS is at a turning point.
This investment represents a clear pathway to supplying 100% of U.S. energy storage projects with American-made batteries by 2030. A pro-business environment, supported by stable tax and trade policy and
Wind power is the only solution to Norway''s future energy needs. Norway will fall into an electricity deficit due to delays in building out wind power, according to DNV''s
EASE has published an extensive review study for estimating Energy Storage Targets for 2030 and 2050 which will drive the necessary boost in storage deployment urgently needed today.
As the energy transition quickens, global carbon capture, utilization and storage (CCUS) projects are on track to pull more than 550 million tonnes of CO2 out of the atmosphere every year by 2030, Rystad Energy
The Northern Lights project is expanding its carbon capture and storage (CCS) capacity, with the big oil firms making their final investment worth around $714 million. This will help lower carbon emissions from industries in
Russia''s invasion of Ukraine has raised Norwegian energy exports in the short term, but will lead to a steeper decline in natural gas demand in the long term. Record-high electricity prices now
According to Wood Mackenzie, there is 83 GWh of installed energy storage capacity in the United States, including nearly 500,000 distributed storage installations. Current
The 2024 Energy Storage Industry Report explores current trends, investments, and tech advancements shaping the global market. This report examines the industry''s growth
Transport — including road, rail, aviation, and maritime — accounted for 25% of Norwegian final energy demand in 2021, almost entirely in the form of oil as fuel (86%). Overall energy demand was 235 petajoules (PJ) in 2021.
The structure of the industrial sector is another factor that affects the final energy use . Manufacturing industries, for example, use more energy than service industries; thus, changes in industrial structure will impact the overall energy consumption in Norway.
Norway’s share of electricity in final energy demand will reach 58% in 2050, far higher than any of the regions.
Total energy demand in the residential sector in Norway in 2015 was 46.28 TWh; in 2020, a slight decrease of 0.77 TWh was observed. Energy consumption in the residential sector consists of space heating (103.5 PJ), electrical appliances (34.6 PJ), and some small cooling demand (0.2 PJ).
In 2050, Norwegian gas exports will be 48 billion m3/yr, which is a decline from historical levels. Norway supplies close to 25% of Europe's gas demand (NPD, 2022). In parallel with the declining gas demand in Europe towards mid-century, Norway’s gas exports (including NGLs) will start to decline within this decade.
The Energy Transition Norway report highlights the significance of energy systems resilience, especially given the EU’s historic reliance on Russian oil and gas, and the recent energy price spirals.
