Bloomberg sees a solar power takeover
Source: Climate Spectator, 2 July 2014
Bloomberg New Energy Finance foresee that by 2030 the world’s power mix will have transformed: from today’s system with two-thirds fossil fuels to one with over half from zero-emission energy sources. Renewables will command over 60% of the 5,579GW of new global capacity and 65% of the $7.7 trillion of power investment.
The analysis, led by Australian Seb Henbest, solar PV will dominate, taking up a fifth of the capacity additions and investment to 2020. But fossil fuels by virtue of its historical dominance will maintain a 54% share of generation – albeit down from 67% in 2013.
BNEF optimistically declare, “economics - rather than policy - will increasingly drive the uptake of renewable technologies.”
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