DNV GL forecasts 50 percent renewables worldwide by 2050

DNV GL, a quality assurance and risk management company in the oil and gas, energy and maritime industries, has published its first Global Energy Transition Outlook. According to the authors, global energy demand will reach a plateau from 2030 onwards, and by 2050 renewable energies will account for almost half of the world’s energy mix. However, the most important source of energy will still be gas, which will replace crude oil in this role around the year 2034. The use of coal has already reached its zenith today.
According to the report, global CO2 emissions will be halved by 2050. However, this is not enough to achieve the targets agreed in the Paris climate agreement. The global energy turnaround outlined in the report, on the other hand, will not result in a significant increase in total annual energy expenditure. Their share of global gross national product would even fall from around five percent today to three percent. Costs for wind and photovoltaics will be reduced by a further 18 percent and 16 percent respectively. The report is available for free download.
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