65 researchers from BNEF gathered data on the evolving cost of clean energy technologies across the world. (Image via: NES Global Talent)

The Wind and Solar Will Comprise 50% of Electricity Power in 2050

Kirana Chandra Mumpuni Budiana
Business & Industry
Environmental Energy & Material
Jun 19, 2019
2321
The electricity demand already increased to 62% and investors pump $13.3 trillion into new projects. Another factor is the dropping cost of lithium-ion battery. The lead author of the study, Seb Henbest, said that the cheap battery cost means more possibility in delivering electricity from wind and solar. Even when the wind isn’t blowing and the sun isn’t shining, the technologies will still be working.

According to BNEF, in 2050, solar and wind will supply almost 50% of the world’s electricity. Another 21% will be hydro, nuclear and other renewable energy resources. The biggest failure will be coal in the power sector. The coal share of global generation plunging will drop from 37% today to 12% by 2050. As for the cost of wind and solar power, they had dropped by 49% (wind power) and 85% (solar power). That means they are cheaper than new coal or gas plants in the world.

The world needs to eliminate greenhouse gas emissions from the electricity sector. So renewable technologies can provide about 13,000 terawatt hours of generation by 2050, according to BNEF. Even if every nation eliminate emissions from the power sector, there are still many greenhouse gases came from cars, trucks, ships, airplanes, heating systems, and agriculture. Europe is the lead of renewable energies shifting, as predicted they will supply 92% of region’s electricity. China and India will still use coal, but they will get almost two-thirds of their power from wind and solar. As for the U.S., they will get 43% of their power from renewable energies in 2050.

Source: https://www.bloomberg.com/news/articles/2019-06-18/the-world-will-get-half-its-power-from-wind-and-solar-by-2050

electricity , power , renewable , energy , Wind , Solar , BNEF , research , organization , global