Wind and solar will produce 50% of global energy generation by 2050

Wind and solar have a 50% chance for global energy generation by 2050, this is according to the Bloomberg New Energy Finance (BNEF)’s New Energy Outlook (NEO) 2018, published this week.

This year’s outlook is the first to highlight the huge impact that falling battery costs will have on the electricity mix over the coming decades.

BNEF predicts that lithium-ion battery prices, already down by nearly 80% per megawatt-hour since 2010, will continue to tumble as electric vehicle manufacturing builds up through the 2020s.

Published in ESI Africa, 22nd June, 2018