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] The U.S. is expected to anchor regional demand as grid resilience priorities, rural electrification gaps, and climate-driven disruption risks accelerate decentralized energy adoption. Persistence Market Research
• [New] Asia's energy advantage: China's renewable surplus may become a strategic asset in the AI race; energy efficiency could overtake transistor density as the key constraint. Amova Asset Management - New Zealand
• [New] EIA projects in the Annual Energy Outlook 2026 Counterfactual Baseline case that total nuclear net summer electricity generation capacity will remain relatively stable, slightly increasing by 99,000 MW in 2050. EIA - Energy Information Administration
• [New] AI demand in energy networks aligns with the sharp escalation of electricity use in digital infrastructure, with data center electricity consumption estimated at 415 terawatt hours and projected to approach 945 terawatt hours by 2030, largely driven by AI workloads. Persistence Market Research
• [New] The shift to net zero is expected to enhance energy security, protecting consumers from international price hikes, and has already created 1.1 million jobs in the UK's green economy. Electricity Info
• [New] The 1,250 MW merchant transmission line, spanning 339 miles, will deliver approximately 10.4 TWh / year of hydropower from Canada to New York City under a 25-year contract with the New York State Energy Research and Development Authority. Constellation
• [New] The Renovation Wave aims to renovate 35 million buildings by 2030, at least doubling the annual rate of energy renovations in the EU. Energy
• [New] The integrated assessment takes into account that reaching 2050 energy targets earlier would require a rapid expansion of renewable power generation, increasing the need for flexibility, storage, grid management, and measures to reduce curtailment. EurekAlert!
• [New] Global electric vehicle (EV) production is projected to surpass 40 million units annually by 2030 per the International Energy Agency, with nearly all next-generation models incorporating ADAS functionality. Persistence Market Research
• [New] Crude oil prices will remain elevated, generally within the $100 range for Q2 2026, driven primarily by ongoing supply disruption concerns, geopolitical risk premiums, and tightening global energy markets. Octagon AI
• [New] Global capital spending on energy will increase about 5% in 2026, to US$ 3.4 trillion. Industrial Info Resources
• [New] Investments in battery energy storage systems is expected to grow by more than 35% in 2026, to an expected US$ 110 billion. Industrial Info Resources
• [New] US$ 2.2 trillion: Amount of projected global energy spend going to Electric Power projects in 2026. Industrial Info Resources
• [New] Worldwide fossil fuel extraction projects are expected to receive roughly US$ 1.2 trillion in capital outlays in 2026, a slight increase over 2025 spending, the energy agency forecast. Industrial Info Resources
• [New] The world is expected to make capital investments of US$ 3.4 trillion in 2026 in energy, up roughly 5% from last year's spend of US$ 3.2 trillion. Industrial Info Resources
• [New] The Department of Energy has indicated the United States is participating in a broader effort to offset supply disruptions caused by the ongoing Strait of Hormuz crisis, with significant volumes already released from emergency reserves. Ag Bull Trading
• [New] The Iran war has led to an inflation-driven repricing, as energy and supply disruptions lift inflation expectations. Candriam
• [New] Saudi Arabia's Vision 2030 and the National Renewable Energy Program have led to large-scale investment in grid modernization and distributed-energy management, creating opportunities for blockchain to support peer-to-peer trading, carbon-footprint tracking, and renewable-certification management. Precedence Research
• [New] China has invested more than USD 625 billion in clean energy projects, and it achieved its solar and wind capacity targets in 2024, which were expected to be completed by 2030. Precedence Research
• The battery storage integration segment is likely to experience the fastest CAGR of 15.3% from 2026 to 2034 due to the critical role batteries play in stabilizing intermittent renewable energy sources like solar and wind, ensuring a consistent power supply within microgrids. Market Data Forecast
• The New York State Energy Research and Development Authority has set goals of delivering 70% renewable electricity by 2030 and a zero-emission electric grid by 2040. The New York Times Company
• Global energy demand will grow by 25% from 2024 to 2050, with the demand for oil increasing by three to five million barrels per day by the early 2030s and natural gas demand expanding briskly into the 2040s. Fraser Institute
• The Department of Defense has identified energy resilience as a critical priority, recognizing that reliance on the civilian grid poses a vulnerability to military operations. Market Data Forecast

Last updated: 05 June 2026