We're heading for serious overcapacity in the battery market. Good news for automakers and EV buyers, but challenging times ahead for new entrants to the battery game.

More in my latest for BloombergNEF here:
bloomberg.com/news/newslette…

The world's largest economies have made limited progress in boosting their decarbonization policies over the past year.🚨

Our G-20 Zero-Carbon Policy Scoreboard found that members scored on average only 49% - just a 1% rise from 2023. bloom.bg/4aoEEEp

The oil and gas sector is shifting away from renewables and power in its decarbonization efforts.

Low-carbon molecule technologies, such as carbon capture and storage, renewable fuels and advanced materials are becoming the new darlings of the industry. bloom.bg/3J6uhsV

With 4.4M units sold globally in Q4, and 13.7M in 2023 as a whole, electric vehicles made up 18% of total passenger vehicle sales in the world last year.

But a slowdown in growth is on the horizon. More on what we think 2024 looks like for EVs. ⚡️🚗 bloom.bg/3J6kLGd

A new disclosure agreement from Citi and J.P. Morgan will help investors gauge progress on banks' clean energy financing ratios, or the proportions of their low-carbon to fossil-fuel financing activity. bloom.bg/3IYIMPF

The race to net-zero will require $4.8 trillion annually from 2024 to 2030.

But if you consider this number as just a fraction of global GDP, the challenge becomes not whether the world has enough money, but if it can be mobilized to the right places. bloom.bg/4aQHH8v

Are electric vehicles really that clean?

The answer is a resounding yes. EVs have lower lifecycle emissions than gas cars - and by 2030, the difference will be even starker. bloom.bg/4cp1KMH

United Airlines has emerged as the top buyer of sustainable aviation fuel, securing 2.9 billion gallons through off take agreements and investments and putting the airline far ahead of any competitors. bloom.bg/3vnANbG

Solar installations are set to jump in Brazil 📈

The country accounted for 80%+ of the total clean energy investment in Latin America last year, driven by small-scale plants of 5 megawatts or less. bloom.bg/3IGyd3A

Last week, our annual event, Barrel of Tomorrow Houston, convened members of the energy industry, capital markets community and government to discuss how oil, gas and heavy industry can adapt to a low-carbon world.

Thank you to our speakers and attendees! bloom.bg/49THIs4

China is defying the EV slowdown narrative.

In 2023, EVs hit 20% of global vehicle sales with China leading the pack. And the country's clean-truck market, one of the hardest segments to electrify, is picking up speed.

Read more from Colin Mckerracher. bloom.bg/3TghEjG

Cheap gas is here to stay. ⛽️

Despite marginal growth in supply, we expect YoY growth in base-case global LNG demand over summer 2024 to improve just 1%, keeping a lid on prices.

More in our 2024 Global Gas Summer Outlook. bloom.bg/3IsfQyX

The photovoltaic industry added ~444 gigawatts of new capacity in 2023, a 76% growth on 2022 build. Prices of solar modules are at record lows, and supply of components is plentiful. What else is in store for the PV Market? Read more in our Q1 outlook. bloom.bg/48LXYKr

European Uber drivers are shifting to electric vehicles 5x faster than the general population.

But electrification of ride-hailing services must be further accelerated to meet the goals of the Paris Agreement. More here. bloom.bg/3PdhLvb

Bearish sentiment is prevailing for global gas markets as North Asia and Europe close this winter at healthy inventory levels and US gas storage levels are above the 5-year average.

What does the summer hold? Join us on March 12 to discuss. bloom.bg/3IpOn10

Despite high interest rates and disrupted supply chains, the clean energy transition thrived in 2023 thanks to federal policies.

Read more in our Sustainable Energy in America 2024 Factbook. bloom.bg/3IhSNH6