Daily Update — April 3, 2025
EU Solar Potential; US State Crypto Adoption Trends; and the Evolving Private Credit Landscape
Today is Thursday, April 3, 2025, and here’s your curated selection of essential intelligence on global markets from S&P Global. Subscribe to be notified of each new Daily Update.
Energy Transition & Sustainability
Solar flexibility solutions can boost EU's competitiveness: SolarPower Europe
At the SolarPower Summit in Brussels, SolarPower Europe emphasized the need for enhanced storage and flexibility capacities to optimize the potential of solar photovoltaic power in bolstering Europe's energy security. At the event, it was highlighted that a shift to an energy system that prioritizes electricity flexibility and renewables could lead to a 25% reduction in European day-ahead electricity costs by 2030. Improved flexibility could decrease solar curtailment by up to 49% by 2040, yielding annual net cost savings of €160 billion and reducing distribution grid investments by at least 27% by 2030.
To further these goals, SolarPower Europe announced the creation of a European battery storage platform aimed at showcasing successful storage case studies to advocate for improved storage policies at the European level. The potential for battery energy storage systems is substantial, with projections indicating a capacity of 11 GW by 2030.
Digital Assets
Cryptocurrency Is Growing Within US State Reserves And Statewide Pension Plans
Cryptocurrency represents a small portion of US state reserve and pension holdings, but many states are considering policy changes to integrate bitcoin and other crypto into their financial frameworks. This trend is driven by increasing investor interest and the development of regulatory structures for crypto, including stablecoins. The emergence of crypto exchange-traded funds alters the risk profile of crypto by shifting the complexities and risks of direct ownership to established financial entities, making crypto investments more accessible to fund managers.
S&P Global Ratings’ recent assessment of the US crypto landscape categorized states into four groups for crypto’s inclusion in state reserves and pension trusts: states that prohibit or recently rejected the holding of crypto; states that have had limited discussions or not considered crypto; states that are exploring or planning for the inclusion of crypto; and states that allow or hold crypto.
Register for S&P Global Ratings’ upcoming webinar on the institutional staking of digital assets, Digital Assets: Institutional Crypto Staking.
Private Markets
Listen: Navigating the Evolving Landscape of European Direct Lending
Howard Sharp, chairman and co-head of direct lending at Alcentra, joined the latest episode of “Private Markets 360°” to share insights on the evolving private credit landscape, the significance of relationships in the industry and what the future holds for private markets.
Explore S&P Global Market Intelligence’s private markets solutions to position your business for success with integrated data, software and expertise.
In case you missed it
- US banks' commercial and industrial loan delinquencies increased while the total value of such loans dipped in the fourth quarter of 2024.
- M&A in Asia-Pacific, measured by the aggregate value of deals, increased in February, indicating growing optimism for bigger deals as interest rates stabilize.
- Fuel switching contributed to lower US power sector gas demand in March, a trend that, based on current natural gas prices, could continue this summer.
Upcoming events
- Latin America Spotlight: Corporate and Infrastructure Ratings | April 8 (Webinar)
- Apple, Nvidia, and the APAC in the Tariff Era | April 9 (Webinar)
- Sustainable1 Summit 2025 | April 30 (In-person: London) and June 26 (In-person: Singapore)