Profound transformations will jolt the global electricity landscape in 2025. AI and datacenter growth are driving expectations for increased electricity demand. Competition is rising among conventional power, established renewables, and emerging alternatives. The increasing adoption of variable renewables—590 GW of solar and wind capacity added globally in 2024—creates technical and economic challenges, requiring new market designs. Additionally, recent elections have introduced political agendas and geopolitical tensions, risking supply chain disruptions and complicating climate diplomacy, which may impact business opportunities for power market stakeholders.
As 2025 begins, the Global Power and Renewables team within S&P Global Commodity Insights considers five key trends that we believe will define power and renewables markets worldwide this year.
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