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Building Global Energy Interconnection
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Renewable energy will be world’s main power source by 2040, says BP

Renewable energies will be the world’s main source of power within two decades and are establishing a foothold in the global energy system faster than any fuel in history, according to BP.

 

The UK-based oil company said wind, solar and other renewables will account for about 30% of the world’s electricity supplies by 2040, up from 25% in BP’s 2040 estimates last year, and about 10% today.

 

In regions such as Europe, the figure will be as high as 50% by 2040. The speed of growth was without parallel, the company said in its annual energy outlook.

 

While oil took almost 45 years to go from 1% of global energy to 10%, and gas took more than 50 years, renewables are expected to do so within 25 years in the report’s central scenario.

 

In the event of a faster switch to a low carbon economy, that period comes down to just 15 years, which BP said would be “literally off the charts” relative to historical shifts. (Source: The Guardian)

 

Link:

https://www.euractiv.com/section/climate-strategy-2050/news/renewable-energy-will-be-worlds-main-power-source-by-2040-says-bp/