Renewable energy is set to be generating 50% of global electricity by 2050.
The New Energy Outlook (NEO) 2018 says that the continuing fall in the cost of batteries will massively increase the ability to store off-peak electricity and sell it when demand is high, which will enable renewable technologies--particularly wind and solar projects--to take an increasing share of the electricity market.
Europe’s electricity market will be 87% renewable in Europe by 2050, while India’s will be 75% renewable, China’s 62% and 55% in the U.S., the report says.
However, U.S. President Trump’s battle to save the coal industry looks doomed, with coal-powered generation set to make up just 11% of global electricity generation by the middle of the century, down from 38% today, according to Bloomberg New Energy Finance.
