Wind and solar to ‘dominate’ future of electricity by 2040

Wind and solar to ‘dominate’ future of electricity by 2040

Renewable energy is indeed the future, according to Bloomberg New Energy Finance’s latest report, which forecasts technologies such as wind and solar to “dominate” the future of electricity by 2040, making up 48% of the world’s installed capacity and 34% of electricity generation.

“This year’s report suggests that the greening of the world’s electricity system is unstoppable, thanks to rapidly falling costs for solar and wind power, and a growing role for batteries, including those in electric vehicles, in balancing supply and demand,” said Seb Henbest, lead author of NEO 2017 at BNEF.

Renewable energy-generated electricity will rise 169% by 2040, and reach 74% penetration in Germany, 38% in the US, 55% in China and 49% in India. Read More…

 

 

 

 

Credit By: PV Tech

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