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Maguire: US clean energy capacity grows slower, but wider by 2025
This year, the pace of adding new solar, wind, and battery capacity in the U.S. has slowed down nationally and in some key states, which is hurting sentiment for clean energy. Climate trackers should take heart in the fact that growth has continued outside of Texas and California. According to data collected by the energy data platform Cleanview by mid-2025, combined installations of solar and wind power systems, as well as battery storage, are expected to increase by around 7% from the previous year in 2025. This would be the smallest percentage increase in these energy technologies over the past decade. It comes in the wake of aggressive cuts in support for clean energy since U.S. president Donald Trump took office. Climate activists are especially alarmed at the slowing of capacity growth in Texas, and California. These two states account for more than a third combined of the nation's clean energy capacity. However, they have grown less this year than the average. While there is plenty to worry about for those who track clean energy, there are also signs that the U.S. transition to energy may continue to expand outside the major clean energy states even though it slows down in 2025. SOLAR SLOWDOWN Cleanview data indicates that solar power has grown at the fastest rate of any clean energy generation in the last five years. The national capacity increased by 181% between 2020 and 2025 to 136,250 Megawatts (MW). The total U.S. capacity of solar has increased by 27% annually since 2020. However, the growth in 2025 is only 10% higher than in 2024 due to a sharp decline in developer activity. California and Texas, the two states that produce the most solar energy, have combined to grow at a rate of 8% in 2025. This is lower than the average growth rate in the US due to the slowest capacity growth ever recorded in California. Florida, Nevada Georgia and Virginia, all of the top 10 solar states, also saw capacity growth that was well below national average. Arizona, Ohio, and Indiana, all of which were in the top 10, posted growth rates that were well above the national average, sustaining the overall growth trend. WIND WOES The growth of wind power capacity has slowed down in recent years, due to the cost increase for parts and labor as well as the difficulty in finding new sites suitable for wind farms. The 1.8% increase in U.S. total wind capacity this year has been the smallest increase in U.S. annual wind power footprint at least since 2010. Only Texas (+2,1%) and Illinois (+4,5%) have seen growth this year that is above the national average, while the remaining seven states in the top 10 have not yet recorded any increase in wind energy capacity since 2024. It is worth noting that states outside of the top 10 wind producers have increased their capacity this year by 3% compared to the total for 2024, helping the total national increase even though the wind-producing states are still treading water. BATTERY BUFFERS In recent years, battery energy storage systems have grown at the fastest rate in the clean energy sector. They will continue to grow faster than wind and solar farms by 2025. Cleanview data indicates that the total installed utility-scale BESS capability was 33,212MW by mid-2025. This is an increase of 22% over 2024. California and Texas, respectively, have shown growth rates of 11% and 14 % below the national average in 2025. Arizona, Nevada Massachusetts and Idaho, all of which are in the top 10 for battery capacity, have seen capacity increases that are far greater than the national average. Batteries are expected to continue being the main growth driver for U.S. Clean Energy Capacity in the future, with federal support still available for battery systems under the Trump Administration even though incentives for solar and winds power have been slashed. Take-outs in Combination As of mid-2025 the combined capacity of solar, battery and wind systems reached 325.700 MW, a rise of 7%, or 20,700MW, from last year. Texas, Arizona, California, and Indiana are the top 10 states in terms of combined solar, battery, and wind capacity. Florida and Illinois have also increased their clean energy footprints. This was mainly due to battery systems. These markets will continue to be attractive for battery developers in the future, given that local utilities need to reduce grid strain. Batteries are also in high demand for areas where there is a surplus of solar power that utilities wish to use at peak times. This suggests that even if solar and wind power capacity continues to be slowed down as federal funding is phased out, clean technology's overall footprint will continue to grow as more batteries are installed. These are the opinions of the columnist, an author for. You like this article? Check it out Open Interest The new global financial commentary source (ROI) is your go-to for all the latest news and information. ROI provides data-driven, thought-provoking analysis on everything from soybeans to swap rates. The markets are changing faster than ever. ROI can help you keep up. Follow ROI on You can find us on LinkedIn.
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Asian shares rise, dollar defensive after mild inflation data
The U.S. Dollar was weaker on Wednesday as data revealed both the resilience of major economies and the necessity for central banks remain accommodative. Wall Street reached new heights Tuesday due to the increasing certainty that the Federal Reserve would cut interest rates in a month. Japan's Nikkei surpassed the 43,000 mark for the first and cryptocurrency ether reached a four-year high. Euro Stoxx futures for the entire region rose by 0.5%. German DAX futures also rose by 0.5%. FTSE futures climbed by 0.2%. U.S. Stock Futures, S&P 500 eminis were flat. The much-anticipated U.S. Inflation readings showed that President Donald Trump's new tariff regime has not yet reached consumer prices. A report in Japan showed that manufacturers were more confident after the United States signed a trade deal. In a client note, Paco Chow (dealing manager at Moomoo Australia & New Zealand) wrote: "It is clear that investors will pile money into the markets, especially tech stocks, regardless of their high price tags." Chow explained, "They are riding on 95% of the odds that the Fed will cut rates in five weeks. They feel comfortable knowing inflation is just creeping up and not running wild." The MSCI All Country World Index reached a new high of 949.19. The Nikkei index of Japan's stocks rose by 1.2% and reached a new peak for the second consecutive session. U.S. Labor Department figures showed that the consumer price index increased 2.7% over the past 12 months, a rate slightly lower than the 2.8% predicted by economists. A survey that tracks the Bank of Japan’s quarterly Tankan business survey revealed that the sentiment index of Japanese manufacturers improved for a third consecutive month. A report also showed that wholesale inflation in Japan slowed down in July. This confirms the central bank's belief that raw material cost pressures will subside. The S&P 500 benchmark and the Nasdaq index hit new highs on Wall Street after President Trump issued an executive order that suspended triple-digit tariffs on Chinese imports. According to CME FedWatch, traders are now pricing in 94% of a Fed rate cut in September. This is up from 86% just a day earlier and 57% about a month ago. Investors were on tenterhooks because the data came after a shockingly weak jobs report released on August 1. It had the potential of stoking concerns about stagflation. Trump nominated White House advisor Stephen Miran as a temporary replacement for a vacant seat on the board of directors at the U.S. Central Bank, causing speculation over presidential interference in monetary policies. The White House stated that it was "the plan", and the Bureau of Labor Statistics will continue to release its monthly employment report, which is closely watched after Trump's choice to lead the agency E.J. Antoni proposed to suspend its release. Chris Weston said that speculation the report would be stopped had "done USD no favours" and only encouraged foreign investors to review their hedge ratios for U.S. investment, he added. The dollar rose 0.1% to 147.95 Japanese yen. After a 0.5% increase in the previous session, the euro gained 0.1% at $1.1683. The dollar index which measures the greenback's value against a basket major counterparts, fell for a second consecutive day. Ether rose 1% to $4,679.47 - the highest price since December 2021. U.S. crude oil rose by 0.2% to $63.27 per barrel. Gold spot rose 0.2%, to $3350.09 an ounce.
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Thyssenkrupp reports unexpected quarterly loss
Thyssenkrupp Nucera, a German supplier of hydrogen equipment, reported an unexpected loss for the third quarter on Wednesday. The company continues to experience project delays in a weak market for hydrogen. Clean-tech companies are worried about what U.S. president Donald Trump's plans for taxation and spending will mean for this industry. They fear that his tax and expenditure plans will stifle the U.S. green hydrogen industry because they will remove crucial tax credits. Thyssenkrupp reported a net profit of 1 million euros, below the analysts' poll conducted by Vara-research. This compares to a 7-million euro profit during the same period of last year. It said that the company's cash flow was positive for the first nine-month period of the financial year. In a recent statement, CFO Stefan Hahn stated that "Thyssenkrupp continues to generate a positive free cashflow even in this challenging market for hydrogen solutions." The company has also confirmed its guidance for the full year. When reporting its third quarter results in July, the Hydrogen Group slightly increased its profit expectation for its financial year 2025. The company's orders fell by 77% during the last quarter, compared to the previous record-breaking quarter. Thyssenkrupp Nucera In December, it said that it would quickly move resources to other sectors if U.S. policy proved detrimental for the sector. Orsted, a wind farm developer, announced earlier this week that it had completed a new wind farm. Asking shareholders After potential investors were turned off by Donald Trump's anti-wind power stance, shares plunged to record lows. In a Wednesday statement, Chief Executive Werner Ponikwar stated that Europe is the most promising market for green hydrogen production. $1 = 0.8568 euro (Reporting and editing by Matt Scuffham, Marleen Kaesebier and Tom Kaeckenhoff)
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Authorities say that a small fire was started by drone debris at a Russian refinery.
Authorities reported on Wednesday that a small fire started by debris from an abandoned drone at the Slavyansk Oil Refinery in Russia’s Krasnodar region was quickly extinguished. The Russian defence ministry announced on Telegram that 46 Ukrainian drones were destroyed overnight by their air defense units, including five in the Krasnodar area. The ministry only reports drones that were downed and not the number of drones launched by Ukraine. The administration announced on Telegram that there were no reported casualties. The fire was quickly extinguished. "Emergency and special services have arrived at the scene." The regional administration posted that a car had caught fire in the refinery. The reports could not be independently verified. Ukraine did not immediately comment on the reports. Ukraine claims that its attacks inside Russia are aimed at destroying infrastructure vital to Moscow's military efforts, such as energy facilities. Slavyansk is a private refinery with a daily capacity of approximately 100,000 barrels. It supplies fuel both for domestic use and for export. Volgograd is also included in the overnight Ukrainian drone attacks, according to the regional governor. The governor of Volgograd said that drone debris had fallen on a 16 story residential building, forcing the residents to flee their homes. Volgograd, the city is the administrative center of a larger region with the same name. The Russian Defence Ministry said that its units destroyed eleven drones over Volgograd overnight. Reporting by Lidia Kelley in Melbourne, editing by Himani Sarkar & Clarence Fernandez
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Stock markets in Europe celebrate a mild inflation rate
Rocky Swift gives us a look at what the future holds for European and global markets. Stock markets around the world are experiencing record highs, from Wall Street, to Japan, and Vietnam. Equity indexes in Asia are also a sea green. The data in the United States, and other major markets, are in a Goldilocks Zone of inflation that is not too hot. This allows the central banks to continue the flow of easy money. The MSCI All Country World Index, a measure of global shares, reached a record high. Japan's Nikkei index also broke through the 43,000 mark for the first. Bitcoin's rival cryptocurrency ether jumped up to a nearly four-year high. According to CME FedWatch, traders are pricing a 94% probability that the Federal Reserve will reduce its key interest rate by September. This is up from 86% just a day earlier and 57% about a month ago. New Zealand is expected to follow Australia's lead next week. Bank of Japan rate hikes are being pushed back. The BOJ's quarterly Tankan Business Survey was tracked by a poll, which showed that the sentiment index of Japanese manufacturers improved for the second consecutive month. Another report revealed a slowdown in wholesale inflation across the country. The dollar is still the worst performer since U.S. president Donald Trump started his on-again-off-again tariff war in April. The greenback faces a new challenge as partisanship creeps into U.S. economic data and monetary policy. Trump nominated White House advisor Stephen Miran as a temporary filler for a vacant Fed board seat. The White House stated that it was "the Plan" for the Bureau of Labor Statistics to continue publishing its monthly employment report, which is closely watched by the public. This follows Trump's appointment of E.J. Antoni as the new head of the agency. Antoni had previously proposed that the report's release be suspended. The data calendar is light in Europe and America, but equity futures point to another positive day in both markets. Trump is planning to meet Russian president Vladimir Putin on Friday to try to end the war. Meanwhile, small groups of Russian soldiers have pushed deeper into eastern Ukraine. The European leaders are worried that the summit will result in peace conditions being imposed to a Ukraine which has been illegally reduced. Markets could be influenced by key developments on Wednesday. Germany's final Consumer Price Index (CPI) for July United Kingdom RICS Housing Survey July
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Iron ore prices rise on tight global supply and output restrictions
The price of iron ore futures rose on Wednesday. This was boosted by reports that steel production in northern China had been curtailed ahead of an upcoming military parade and signs of tightening supply globally. As of 0328 GMT, the most-traded contract for January iron ore on China's Dalian Commodity Exchange was trading 0.57% higher. It was 799.5 Yuan ($111.32), per metric ton. The benchmark iron ore for September on the Singapore Exchange rose 0.07% to $104.5 per ton. Market sentiment was impacted by reports that steel mills were ordered to reduce production in order to maintain clear skies for a military display to mark the end of World War Two on September 3. Analysts from ANZ said that the steel industry is highly sensitive to production controls mandated by the government. The short-term effect of these cuts are usually higher steel prices and profit margins. This allows the cost of inputs like iron ore, to increase. Global iron ore exports have also declined due to the fall in shipments by Australia, the top producer. Hexun Futures, a broker, stated that on the demand side, steelmills are replenishing their inventories as needed, and daily average hot metal output, an indicator for iron ore consumption, is high. Galaxy Futures, a broker, says that domestic construction steel is contributing less to the iron ore market, but manufacturing and crude steel imports are still relatively high. A Brazilian dam collapsed in 2015, which halted the company's operations for years. The court has now approved Samarco to exit bankruptcy proceedings. Coke and coking coal were both up on the DCE, but coking coal was down by 0.63%. The Shanghai Futures Exchange steel benchmarks mostly fell. Rebar fell by 0.03%; wire rod dropped 0.17%; and stainless steel declined 0.42%. Hot-rolled coils rose 0.09%.
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Trinidad Awards Deepwater Blocks to Exxon
Exxon Mobil could invest as much as $21.7 billion in Trinidad and Tobago if the U.S. energy major finds reserves in a large deepwater area it was awarded on Tuesday to explore for oil and gas in the Caribbean country, Energy Minister Roodal Moonilal said.Moonilal was speaking at an event in Port of Spain where a production-sharing contract was signed with Exxon, marking its return to the country after 20 years.Reuters reported last week that government had agreed to grant Exxon access to an area equivalent to seven blocks and located northwest of its prolific Stabroek block offshore Guyana."What we are awarding today is larger than the surface area of the country," Moonilal said.Exxon and Trinidad's government negotiated the deal in "record time," Exxon's Vice President of global exploration John Ardill said at the signing ceremony, adding that the company wants to use its knowledge about the Caribbean geology and replicate its success in Guyana.Exxon's initial exploration plan will need a $42 million investment for 3D seismic and up to two exploration wells, Trinidad's officials said. The first well could be drilled after completing seismic, to begin in six months, Ardill added.An Exxon spokesperson said the company is the operator of the block and holds 100% interest.An Exxon-led consortium has confirmed more than 11 billion barrels of recoverable oil and gas at the neighboring waters of Guyana."While this is still frontier exploration, it has great potential in this ultra deepwater area," Ardill said, referring to Trinidad.Trinidad has had some success in deepwater exploration by consortia including companies BHP, Woodside, BP and Shell. Some of the discoveries are advancing to commercial developments, the minister said.If reserves are confirmed by Exxon, it could move even faster than it did in Guyana to begin output because Trinidad has oil and gas infrastructure in place.Exxon plans to use its equipment and resources between Guyana and Trinidad and Tobago to expedite exploration, according to Ardill.Trinidad's Prime Minister Kamla Persad has promised that her country will review fiscal terms to further attract investment for its energy sector."Trinidad will not wait for the end of any energy era," she said. "Our principle is simple: investment goes where it is welcomed and stays where it is well treated."(Reuters - Reporting by Curtis Williams and Marianna Parraga; Editing by Mark Porter and Marguerita Choy)
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Gold prices rise as dollar weakens and rate cuts fuel bets
Gold rose on Wednesday as a result of a weaker US dollar. Investors were focused on the U.S.-Russia war in Ukraine talks this week, and bets on lowering interest rates in September had been reaffirmed by mild U.S. data. As of 0239 GMT, spot gold rose 0.2% to $3,351.46 an ounce. U.S. Gold Futures for December Delivery gained 0.1% at $3,401.60. Tim Waterer is the chief market analyst for KCM Trade. He said that the fall in USD allowed a modest bounce in gold prices. The precious metal was oscillating at around $3,350 ahead of Friday's Trump-Putin summit. If the meeting in Alaska does not resolve anything, and if the war in Ukraine continues to escalate, gold may be pushed back toward $3,400. The White House stated on Tuesday that the summit between U.S. president Donald Trump and Russian president Vladimir Putin was "a listening exercise" for the President, lowering expectations of a quick ceasefire agreement between Russia and Ukraine. The Consumer Price Index in the United States (CPI) increased 0.2% in July after a 0.3% rise in June, according to data released Tuesday. The CPI increased 2.7% on a year-overyear basis. The dollar index extended declines, making greenback-denominated assets more affordable to holders of other currencies. The markets are pricing about 90% of a Federal Reserve interest rate reduction in September. At least one more is expected before the end of the calendar year. Gold that does not yield thrives in an environment of low interest rates. The United States and China extended their tariff truce by another 90 days to ease trade tensions on the market. This will prevent the imposing of triple-digit duty rates on the goods of each other. Investors now await more U.S. Economic Data due later this Week, including the U.S. Producer Price Index (PPI), weekly jobless claims and retail sales. Spot silver increased 0.7%, to $38.14 an ounce. Platinum rose 0.4%, to $1341.80, and palladium gained 0.3%, to $1132.89. (Reporting and editing by Sherry Jac-Phillips, Subhranshu Sahu and Brijesh Patel in Bengaluru).
Eni confirms buyback and cuts capital expenditure, despite posting a smaller-than-expected profit drop
Eni, the Italian energy company, reported Thursday a net profit drop of 11% for the first three months adjusted. This was less than expected.
The adjusted net profit was 1.41 billion euro ($1.60 billion), down from 1.58 million euros in the first three months of 2024. However, it was above the analyst consensus of 1,15 billion euro compiled by the firm.
As a result of lower oil prices, state-controlled group announced it would reduce its planned net capital expenditures this year below 6 billion euro as part several mitigation measures worth 2 billion euros.
Eni has confirmed its distribution strategy, which shareholders will be voting on in May. This includes a 1.5 billion euro share buyback.
A weakening economy has led the group to lower its Brent oil price expectation from $75 per barrel to $65.
The forecasts for natural gas prices and refining margins were also revised downward. This had a negative impact on the underlying cash flow of operations (CFFO) which was now estimated at 11 billion euro this year. ($1 = 0.8821 euro) (Reporting and editing by Francesca Landini)
(source: Reuters)