Deep Freeze Risk Raises Stakes for Europe’s Gas Supply

The first generation of wind turbines is now approaching retirement. Developers across Europe, the US and China thus find themselves at a crossroads: should they refurbish and extend the life of existing wind fleets, or dismantle them and build new projects from scratch? Wind technology has evolved considerably over the last 20 years, maintenance costs can be steep, and new projects generally boast bigger turbines with far greater capacity. However, the dismantling of older projects incurs significant costs, the regulatory approval process for new projects can be intricate, and the disposal of turbine components often presents an environmental and logistical challenge. On today’s show, Dana Perkins is joined by co-host Kobad Bhavnagri, BloombergNEF’s global head of strategy. Together, they speak to Oliver Metcalfe, BNEF’s head of wind research, about the research note “Wind End of Life 2025: Global Repowering Surges by 2035.” Complementary BNEF research on the trends driving the transition to a lower-carbon economy can be found at BNEF<GO> on the Bloomberg Terminal or on bnef.com Links to research notes from this episode: Wind End of Life 2025: Global Repowering Surges by 2035 - https://www.bnef.com/insights/37547See omnystudio.com/listener for privacy information.

Winter is coming, and with it a rise in demand for natural gas. With growing liquified natural gas exports from the US now crossing the Atlantic and filling European storage, the continent looks to be well prepared for the coming winter. However, BloombergNEF weather analysts are forecasting that this winter could be a cold one, with the possibility of reduced wind speeds eating into turbine generation, piling even further pressure on natural gas reserves. So just what impact could these unfavorable weather conditions have on gas commodity prices, and with the “third wave of liquefied natural gas” set to flood global markets, could we be facing an upcoming supply glut? On today’s show, Dana Perkins talks with BNEF weather analyst Jess Hicks and gas team senior associate Olympe Mattei-D’Ornano about the note “European Gas Winter Outlook 2025-26: Final Crunch?” Complementary BNEF research on the trends driving the transition to a lower-carbon economy can be found at BNEF<GO> on the Bloomberg Terminal or on bnef.com Links to research notes from this episode: European Gas Winter Outlook 2025-26: Final Crunch? - https://www.bnef.com/insights/37391 Weather Shifts Stir Europe’s Power Markets - https://www.bnef.com/insights/37673See omnystudio.com/listener for privacy information.

The US power grid is under mounting strain from aging infrastructure, slow interconnections and regional bottlenecks, while demand, complexity and variability are on the rise. Building a future-ready grid will require major investment, smarter infrastructure and policy reform. So just what can be done to expand transmission capabilities to meet oncoming energy challenges in the US? At the BloombergNEF Summit Houston, Ethan Zindler, BloombergNEF’s head of country and policy research, moderated a panel “Revolutionizing the Grid.” This episode brings listeners that panel, which featured Page Crahan, general manager of Tapestry at X, Alphabet; Michael Skelly, co-founder and chief executive officer of Grid United; Frank Kreikebaum, senior vice president and chief of engineering at Smart Wires; and Rina Harris, vice president of strategic business growth and engagement at CenterPoint Energy. To learn more about BNEF’s Summits taking place around the world and to see recordings of BNEF Talks at previous Summits, head to https://about.bnef.com/summit/.See omnystudio.com/listener for privacy information.

Copper is a cornerstone of the world’s infrastructure. From transportation to the energy transition to massive new data centers, demand for the metal is everywhere, and supply is feeling the crunch. Copper demand is forecast to outstrip supply by 6 million metric tons a year come 2035, but at the same time, market economics are limiting exploration and some mines are even closing up shop. So who is going to win, and who may lose out, in the global battle for a limited critical resource? On today’s show, Tom Rowlands-Rees talks with Rosemary Katz, a senior associate from BNEF’s metals and mining team, about her note “Tracking Copper in Data Centers 2025-2035: Supply Crunch.” Complementary BNEF research on the trends driving the transition to a lower-carbon economy can be found at BNEF<GO> on the Bloomberg Terminal or on bnef.com Links to research notes from this episode: Tracking Copper in Data Centers 2025-2035: Supply Crunch - https://www.bnef.com/insights/37209See omnystudio.com/listener for privacy information.

Despite the gloomy headlines in the US, global investment into clean energy technologies is still rising. The first half 2025 saw a record $386 billion flowing towards clean tech, a 10% rise from the same period last year. Yet despite the continuing rise in investment numbers, the devil lies in the details. For instance, solar was propelled by small-scale installations, while utility-scale investment waned. And the regional investment picture is fragmented, with declines in investment figures in the US possibly indicating capital reallocation to other markets. On today’s show, Dana Perkins talks with the BloombergNEF’s Head of Clean Energy, Meredith Annex, about her team’s note “2H 2025 Renewable Energy Investment Tracker: Record High.” Complementary BNEF research on the trends driving the transition to a lower-carbon economy can be found at BNEF<GO> on the Bloomberg Terminal or on bnef.com Links to research notes from this episode: 2H 2025 Renewable Energy Investment Tracker: Record High - https://www.bnef.com/insights/37317See omnystudio.com/listener for privacy information.

Artificial intelligence needs power, and lots of it. If all the data centers in the current US pipeline get built, they could suck up the electricity from 100 nuclear power plants and still be left wanting more. One obvious solution for supplying this massive demand is natural gas, which is plentiful and cheap in the Lower 48, and now has the enthusiastic backing of the Trump administration. But with a global shortage of turbines and lucrative liquefied natural gas contracts competing for supply, gas generation faces an obstacle course rather than a smooth road to running the country’s data centers. On today’s show, Tom Rowlands-Rees talks with BloombergNEF gas market analyst, Henry Eaton, about his recent note “Fueling the Cloud: Data Centers’ Bond With US Gas.” Complementary BNEF research on the trends driving the transition to a lower-carbon economy can be found at BNEF<GO> on the Bloomberg Terminal or on bnef.com Links to research notes from this episode: Fueling the Cloud: Data Centers’ Bond With US Gas - https://www.bnef.com/insights/36619See omnystudio.com/listener for privacy information.

The One Big Beautiful Bill Act has reshaped the US clean energy landscape. Designed to scale back major US decarbonization programs while promoting fossil fuels, the OBBBA has severely restricted the rollout of solar, wind and energy storage projects while also taking direct aim at electric vehicles. The impact of the new law has been dramatic, but could it have been worse? And what does the whiplash between presidential administrations mean for the feasibility of future investments in the US? On today’s show, Tom Rowlands-Rees talks with BloombergNEF’s head of country and policy research, Ethan Zindler, who also previously worked as climate counselor to former US Treasury Secretary Janet Yellen. Joining them is senior policy associate for North America Derrick Flakoll, and together they discuss recent BNEF notes including “One Big Bill, Many Impacts for US Energy Economy” and “New US Clean Energy Tax Rules Could Have Been Worse.” Complementary BNEF research on the trends driving the transition to a lower-carbon economy can be found at BNEF<GO> on the Bloomberg Terminal or on bnef.com Links to research notes from this episode: Trump Signals Deeper Cuts to Clean-Tech Factory Subsidies - https://www.bnef.com/insights/37297 New US Clean Energy Tax Rules Could Have Been Worse: React - https://www.bnef.com/analyst-reactions/t11xthgp9vd100 Trump Slams the Brakes on US Wind and Solar Growth - https://www.bnef.com/insights/37073 One Big Bill, Many Impacts for US Energy Economy - https://www.bnef.com/insights/37051See omnystudio.com/listener for privacy information.

Right now, there are technologies that can pull carbon dioxide directly out of the air. That could be a critical tool in a world where climate change is rampant. Yet to fulfill this carbon removal potential, the sky-high costs of direct air capture need to fall. Today, capturing a metric ton of carbon dioxide with DAC costs around $900 on average, presenting a huge challenge to scaling the technology when there are more affordable alternatives available. So what is the cost outlook for direct air capture, and which technology type offers the most financially viable means of growth? On today’s show, Tom Rowlands-Rees is joined by Brenna Casey, an associate on BNEF’s sustainable materials team, to discuss findings from her report “Out of Thin Air: The Cost of Scaling Direct Air Capture”. Complementary BNEF research on the trends driving the transition to a lower-carbon economy can be found at BNEF<GO> on the Bloomberg Terminal or on bnef.com Links to research notes from this episode: Out of Thin Air: The Cost of Scaling Direct Air Capture - https://www.bnef.com/insights/37093See omnystudio.com/listener for privacy information.

The Trump administration’s ‘Liberation Day’ tariffs are reshaping global trade flows. With the US currently renegotiating its trade positions with traditional partners and rivals alike, the tariffs’ true impact is yet to be fully understood. Even the handful of new deals that have been struck offer little guidance, as they break from the legally binding forms that international trade deals traditionally take and their contents remain largely undisclosed. Assessing the geopolitical landscape has thus become critical for making business decisions. On today’s show, Dana Perkins is joined by Jennifer Welch, chief analyst of Bloomberg’s geoeconomics team, and Antoine Vagneur-Jones, BloombergNEF’s head of trade and supply chains, to delve into the decisions currently shaping global trade. Complementary BNEF research on the trends driving the transition to a lower-carbon economy can be found at BNEF<GO> on the Bloomberg Terminal or on bnef.com Links to research notes from this episode: US Energy Trade and Tariff Indicators: June 23-July 28 - https://www.bnef.com/insights/37117 Trump Tariffs Are Thrashing the US Energy Storage Market - https://www.bnef.com/insights/36483 Solar and Battery Makers Stung by Latest Trump Tariffs - https://www.bnef.com/analyst-reactions/t0h9c7gpqq6j00 To find out more about Bloomberg's geoeconomics research, email us at [email protected] omnystudio.com/listener for privacy information.

Cutting industrial emissions has long been one of the most intractable hurdles in the energy transition. That may finally be changing, as a new generation of smart technologies not only paves the way for abating industrial emissions but promises to do so at scale. Four companies emerged victorious in this year’s BloombergNEF Pioneers challenge dedicated to decarbonizing heavy and light industry: AtmosZero, Circ, Rondo and Everdye. On today’s show, Tom Rowlands-Rees is joined by guest host Benjamin Kafri, co-chair of BNEF Pioneers, to interview the leaders of these companies. Complementary BNEF research on the trends driving the transition to a lower-carbon economy can be found at BNEF<GO> on the Bloomberg Terminal or on bnef.com Links to research notes from this episode: Climate-Tech Companies to Watch in 2025: BNEF Pioneers - https://www.bnef.com/insights/36311See omnystudio.com/listener for privacy information.