Energy Transition Outlook 2017: a global and regional forecast of the energy transition to 2050
According to this report India will rely on solar for more than half of its electricity generation from about 2030, and an overwhelming majority by 2050.
The world is approaching a watershed moment as energy demand is set to plateau from 2030, driven by greater efficiency with wider application of electricity. A rapid decarbonization of the energy supply is underway with renewables set to make up almost half of the energy mix by 2050, although natural gas will become the biggest single source of energy. These are some of the findings of DNV GL’s inaugural Energy Transition Outlook, a report that charts the world’s energy future to the middle of the century. Energy efficiency will improve faster than global economic growth due to the rapid electrification of the world’s energy system, leading to a plateau in energy demand from 2030. Renewable energy sources will continue to rise, making up nearly half of global energy supply by 2050, cutting energy-related CO2 emissions in half by that time. Gas supply will peak in 2035, but will still be the biggest single source of energy by mid-century. Oil supply will flatten out in the period 2020 to 2028 and then fall significantly to be surpassed by gas in 2034. The world will manage the shift to a renewable future without increasing overall annual energy expenditure, meaning that the future energy system will require a smaller share of GDP.