Bloomberg New Energy Finance forecasts the increase in the share of renewables up to 50% in 2050. The key factor of alternative generation capacities increase is a rapid decline of electricity prices produced from untraditional sources and continuous storages development, which help to save additional “green” electricity.
However, common traditional energy sources, e.g. coal and nuclear generation are still operational. But the share of coal generation will decrease from 37% to 12% in the world balance, while nuclear generation will occupy 21%.
According to the forecast, investors will invest about $13 trillion in the development of renewables during the next 30 years and the growth in demand for electricity over the same period will be 62%. One of the most important reasons for investing in renewables, apart from the sector's productivity and production costs is people’s desire to reduce atmospheric emissions and containment of temperature in line with the Paris Agreement.
Tags: renewable energy