Renewables will account for all or most of the increase in global power generation!

According to BP, renewables will dominate new power growth. The oil major said wind and solar energy will expand rapidly, underpinned by continuing falls in their costs and an increasing ability of power systems to integrate high concentrations of variable sources. As a result, the share of renewables in global primary energy will increase to between 35% and 65% by 2050 from around 10% in 2019?in the three scenarios.

The average rate of increased clean power capacity in the accelerated and net zero scenarios is 600GW to 750GW a year in the 2030s and 700GW to 750GW in the 2040s. Emerging economies account for more than 75% of deployment in the accelerated and net zero scenarios, with China accounting for about 25%. The report said the rate of renewables acceleration is dependent on a range of factors scaling at a similar rate.