Wind and solar energy will generate half of the global electricity by 2050, driven by cost reductions, as well as the arrival of cheaper batteries that will allow the storage and discharge of electricity.
This is reflected in the report New Energy Outlook (NEO) 2018, an investigation by Bloomberg New Energy Finance (BNEF), which considered the development of country-by-country power systems and the cost dynamics of different technologies.
The analysis highlights the reduction from 38% to 11% of the generation of electricity through the use of coal, which is strongly disadvantaged by the costs that – in this case – will drive wind, solar and battery generation.
The director of BNEF in Europe, Middle East and Africa and lead author of the study, Seb Henbest, points out that a global investment of US $ 11.5 billion in new energy generation capacity is expected between 2018 and 2050.
The study details that of this total, US $ 8.4 billion will be allocated to wind energy and alone, while about US $ 1.5 billion will be invested in other carbon-free technologies such as hydro and nuclear. For the issue of battery capacity, an estimated US $ 548 billion by 2050.
The research contemplates an approach to electricity generation in Mexico, noting that it will increase more than three times in the next three decades, from 76GW today to 260GW in 2050. “Solar energy will represent 30% of total capacity by 2050”, quote the study.
The New Energy Outlook (NEO) also targets the drop in the cost of lithium-ion batteries, which have fallen by almost 80% per megawatt-hour since 2010. “Prices will continue to fall as the manufacture of electric vehicles develop throughout the decade of 2020, “he concludes.
