Global Scans · Energy · Weekly Summary

WHAT'S NEXT?: By 2025 solar energy will be the cheapest energy option globally. In 2040, oil and natural gas are expected to make up nearly 60 percent of global supplies, while nuclear and renewables will be approaching 25 percent. Improvements in energy efficiency in lighting and home appliances are expected to continue to push residential electricity use lower. The burning of coal will fall out of favor. Transportation energy consumption will be rising in correlation to growth in automated vehicles in the coming years.

• [New] When compared to an extremely optimistic benchmark projecting reduced environmental impacts of conventional animal agriculture by 2030, cultivated meat produced using renewable energy can reduce the carbon footprint of beef by up to 92%, pork by 44%, and be competitive with chicken. The Good Food Institute
• [New] The IRENA's World Energy Transitions Outlook calls for a tripling of annual renewable power capacity additions from around 300 gigawatts to 1000 GW on average until 2030 globally. INTERNATIONAL DAYS
• [New] Moving the current average global efficiency rate of coal-fired power plants from 37.5% to 47.5% by deploying more advanced technology could cut 2 gigatons of CO2 emissions while allowing affordable energy for economic development and poverty reduction. Society for Mining, Metallurgy & Exploration
• [New] The International Energy Agency forecasted a record global oil surplus of 4.0 million bpd for 2026. Barchart.com
• [New] Africa has become strategically central to the global green transition owing to its vast reserves of critical minerals, significant renewable energy potential, and youthful labour force. Tess
• [New] If SMR technology delivers at scale by the early 2030s, the long-term AI energy trajectory becomes sustainable. AI Business Weekly
• [New] Microsoft signed a $16 billion, 20-year deal to restart Three Mile Island Unit 1 - renamed the Christopher M. Crane Clean Energy Center - for 835 MW of nuclear power targeting 2028 operation, to secure carbon-free baseload power for its AI data centers per Zylos AI's energy research. AI Business Weekly
• [New] Between now and 2030, an estimated USD 670 billion must be directed each year towards grids, with further investment required to rapidly scale up energy storage solutions, facilitate renewable integration and safeguard grid stability. Global Renewables Alliance
• [New] Researchers at the University of Illinois Urbana-Champaign are investigating whether microwave energy could help produce French fries that absorb less oil without losing the qualities consumers expect. ScienceDaily
• [New] Saudi Arabia aims to generate around 50% of its electricity from renewable sources by 2030 as part of its long-term energy strategy. GCC BUSINESS WATCH
• [New] Continued innovation in lightweight composite arm structures, energy-efficient servo drives, and integrated AI controllers is expected to sustain its leadership through 2033, especially as factories pursue greater process flexibility. Persistence Market Research
• [New] The global LNG demand will rise by ~60% by 2040, reaching 630-718 million tonnes / year, supported by Asia's demand, industrial growth, and the energy transition. Straits Research
• [New] Large tech companies have committed to sourcing clean power for their data centers: Google has promised to power its data centers using 100% clean energy by 2030, and Meta matches its data centers' electricity use with renewable energy. Foreign Affairs Magazine
• [New] Finland's sand battery is one of the first commercial-scale technologies to demonstrate what long-duration thermal energy storage could look like. Yahoo Tech
• [New] Supported by INL and the Department of Energy, Deployable Energy's achievement marks a milestone in microreactor technology, with more advanced reactors expected to be online. Idaho Labor Market Information
• [New] New York State has expanded its energy storage ambitions, with the Public Service Commission approving a roadmap to deploy 6,000 MW of storage by 2030. Office of the New York City Comptroller Mark Levine
• [New] North America is predicted to dominate globally in 2026 with a share of about 40.1%, as it has one of the world's most advanced maritime industries, supported by increasing investments in naval modernization, commercial shipping, offshore energy, and port digitalization. Persistence Market Research
• [New] On storage, NYSERDA plans to procure 3 GW of new bulk energy storage through Index Storage Credit contracts by 2028 as part of the broader goal of deploying 6 GW of total storage by 2030. Constellation
• [New] Annual investment in nuclear energy needs to triple to USD 250 billion a year to meet projections of a more than tripling of capacity by 2050. World Nuclear News

Last updated: 07 August 2026