According to BloombergNEF experts, by the year 2050, 11.5 trillion dollars in the electric power sector will be involved, of which 8.4 trillion dollars will be spent on wind and solar power, and 1.5 trillion dollars will be spent on other technologies in the industry.
50 to 50
By 2050, the whole world should switch to 50% of energy from natural phenomena: sun, wind, water, etc. Renewable energy sources are expected to supply 87% of electricity in Europe by 2050, 55% in the United States, 62% in China and 75% in India.
Europe shows that renewable energy can reach a very high penetration at a low price. By 2050, renewable sources should account for 87% of the energy generation, where wind and solar power play a leading role.
Photo: State Agency on Energy Efficiency and Energy Saving of Ukraine
The transition to 50% renewable energy depends on the cheaper cost of technology, equipment and other tools that stimulate the development of sustainable energy. It is projected that by 2050 the cost of the average PV plant will be reduced by 71%, while the sources of wind energy will fall by 58%.
According to experts, solar and wind energy in the world are cheaper compared to the construction of new large-scale coal and gas installations.
$ 548 billion will be invested in battery power by 2050. Of these, two-thirds are set at the network level and one third at the level of households and enterprises.
A cheaper battery provides more opportunities to improve the supply of electricity from wind and sunshine, so these technologies can help meet demand even when there is no wind and no sun.
As a result, renewable energy will increasingly deprive the energy market of coal, gas and nuclear energy, "said the chief author of Bloomberg New Energy Finance, Seb Genbec.
On the photo: Seb Henbest
According to Bloomberg, currently coal mining is 38%, but it is planned to reduce it to 11% by 2050.
The research shows that renewable energy sources are becoming more and more relevant and demanding at a time when traditional energy sources go back to the background and eventually cease to exist.
About Bloomberg NEF research in details: