Renewables to Provide Half of the World’s Electricity By 2050

Published onOctober 4, 2019

Renewable energy sources including hydropower are set to account for 49 percent of the world’s electricity generation by 2050, up from 28 percent in 2018, the U.S. Energy Information Administration (EIA) said on Wednesday. Last year, as much as 96 percent of the 28-percent share of renewables in global electricity generation came from hydropower, wind, and solar energy, the EIA says in its International Energy Outlook 2019 (IEO2019). The share of solar power in electricity generation will grow at the fastest pace through 2050, while the share of hydropower will rise at the slowest rate, according to the IEO2019. “As more solar power systems have been installed, installation costs have experienced the steepest cost declines of all renewable technologies in recent years, and EIA expects that they will continue to decline as a result of learning-by-doing effects,” EIA said.

Source: https://oilprice.com/Latest-Energy-News/World-News/Renewables-To-Provide-Half-Of-The-Worlds-Electricity-By-2050.html