The renewable energy transition promises to reduce carbon emissions, but it’s happening at different speeds around the world. Read on for some key insights from BloombergNEF’s New Energy Outlook 2019, which provides a detailed road map to the future.
The New Energy Landscape
1. The Old World Will Move the Fastest
Most regions are moving toward cleaner energy generation but not at the same pace. Europe is forecast to be almost fossil fuel-free by 2050. The U.S. lags the world.
Share of energy generated from renewables, including hydro
2. In Asia, Coal Will Rise, But Fall Again
Coal-fired electricity will peak in China in 2027 and in India in 2038.
Electricity generated from coal
3. Most New Gas Power Will Be On-Demand
Peaker plants, which are more responsive to changing needs, will push growth.
Cumulative installed capacity
4. The Money Is Headed for Onshore Wind
Over the next 30 years, the world will invest about $2 trillion in new electrical capacity from fossil fuels and more than $11 trillion in zero-carbon technologies.
Forecast investment in new capacity through 2050
5. $4 of Every $10 Spent on New Capacity Will Go to Asia
The region will get $5.8 trillion in new capacity investments through 2050, roughly three-quarters of which will go to China and India.
Forecast investment in new capacity in selected nations through 2050
6. Battery Investors Go Big
State programs and lower costs will encourage investment in utility-scale.
Forecast investment in new capacity through 2050
7. Where Green Power Is Cheapest Today
Clean (and dirty) energy prices vary globally. Coal is costly in the U.K.
Levelized cost of electricity, 1H 2019
8. The Debt Market for Sustainable Projects Has Exploded
Green bonds have driven sustainable debt issuance since 2012. Last year, financial, corporate, and mortgage-backed issuers accounted for two-thirds of sales.
Sustainable debt financing issued
9. Green Technologies to Grow More Affordable
The relative costs of solar and wind will fall well below those of coal and gas.
Cost of electricity generation
10. Not Everyone Is Participating In the New Energy Boom
The number of U.S. solar jobs has climbed 159% since 2010, but women are disproportionately left out of the clean energy workforce—and underpaid within it.
Solar labor
POWERGEN
is the event that showcases the energy transition. Join us in New Orleans this November 19-21 to learn about all the latest technologies and market trends affecting the energy industry today.
