Solar PV Could Dominate World Energy Generation by 2050
A global carbon neutral electricity system can be achieved by 2050.
A 4-year study which tackled finding the most effective way to reach the internationally adopted 1.5°C Paris Climate Treaty by 2050. It says that a transition to 100% renewable energy “is not only feasible, but also cheaper than the current global energy system”.
Energy Watch Group and LUT University found that it is not a matter of technical viability but about political will.
Solar photovoltaic would be the main source of electricity with a chunky 69% wedge of the all-renewable pie (see chart below) and the LCOE (Levelised Cost of Electricity) would drop from 54€ (in 2015) to 53€ in 2050 – lower than it is today!
It’s also worth noting that the report predicts that the majority of energy jobs by 2050 will be in solar PV and battery storage – jobs lost to fossil fuel sectors will be more than compensated by an additional 15million jobs in these renewable sectors.
Another interesting point is that the report predicts that a new storage sector will emerge – a trend that can already be seen in small-scale generation, now battery costs are plummeting.
Read the full report here
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