Oil Demand Peaks, Africa’s Clean Transport & Solar Storage Breakthroughs
From oil demand nearing a peak in China to record-low solar and storage costs, the energy transition continues to reshape global markets in unexpected ways. A new U.S. study reimagines how electrification could have halved energy demand over decades, while Africa is forging its own unique route to electric transport. Meanwhile, Chile pushes ahead with a massive solar-wind-battery project, underscoring the accelerating pace of clean energy investment worldwide.
⛽ China’s Oil Demand to Peak by 2027
China’s shifting economic structure and surging electric vehicle sales are pushing its oil consumption toward an earlier-than-expected peak. The IEA projects demand will top out in 2027, marking a turning point for the world’s largest crude importer. Beyond that, global oil demand growth is expected to grind to a halt by the end of the decade, reshaping energy markets that have long depended on China’s seemingly unending appetite.
⚡ Reimagining U.S. Energy with Full Electrification
A new study explores what U.S. energy demand might have looked like from 1960 to 2023 under a fully electrified system powered by wind, water, and solar. Researchers found overall end-use demand could have been cut by more than half — 56.7% lower — without blackouts, even during variable weather. The analysis highlights how electrification and renewables could deliver both carbon-free energy and major efficiency gains at lower cost.
🌍 Africa’s Distinct Route to Electric Transport
Africa’s journey to clean mobility is unfolding differently than in regions leading the EV transition. With relatively low vehicle ownership and widespread reliance on motorcycles, scooters, and informal public transport, the shift to electrification is taking a unique shape. Local startups, innovative financing, and solar-powered charging swaps are emerging as key solutions, helping chart a path tailored to the continent’s transport needs.
🔋 AES Launches Giant Hybrid Project in Chile
AES has broken ground on a massive 1.6 GW renewable energy complex in Chile, combining 925 MW of solar, 380 MW of wind, and 300 MW of battery storage. Slated for full operation in 2026, the project builds on Chile’s rapid expansion of renewables, which already supplied 43% of the country’s power in early 2025. The development marks another step in Chile’s push toward a fully decarbonised grid.
☀️ Solar + Storage Costs Keep Falling
The cost of solar paired with storage fell another 22% in 2024, and is down 43% since 2019, according to new data from Ember. At $104 per megawatt-hour, the combination is now cheap enough to supply 60%–97% of electricity demand in many regions. Analysts say this continued cost decline strengthens the case for 24/7 renewable power, with storage smoothing out solar’s variability and enabling deeper decarbonisation.