By 2050, electricity is expected to come from 100% renewable energy sources. But… Is it possible to achieve a 100% renewable energy supply for everyone on the planet?

RENEWABLE ENERGY AS THE MAIN SOURCE OF ENERGY

In the long term, consuming energy from renewable energy sources is not only the best option but the only option because the way we currently produce and use energy is not sustainable. Fossil fuels such as oil, coal and gas are the main contributors to climate change, and only with sustainable renewable energy sources can we guarantee energy for all people in the future and avoid an environmental catastrophe.

By 2030, according to the International Energy Agency (IEA), oil and gas production will fall by 40-60%. However, energy consumption and demand for energy is not slowing down and several energy companies are already increasingly extracting unconventional oil and gas, such as shale gas, but at an unprecedented cost in economic, environmental and social terms.

2050 will be the year when renewables overtake coal, oil and gas, according to the latest BloombergNEF report. By that year, the demand for electricity will grow, partly driven by the rise of electric vehicles. In addition, the consumption of renewable energy sources for the population’s energy needs will drive down their production costs, something we are already seeing today.

The definitive conquest of renewables by 2050 is already starting to become a reality and the investment summit is being led by solar and wind energy, as opposed to fossil fuels, which will receive much less investment for the generation of new plants.

Countries such as the United States have already seen renewables overtake coal in electricity generation, with an output of 68.5Gw/hour. This is a historic and encouraging figure due to the development of new wind and solar farms.

So… What is expected from renewable energy in 2050?

  • Wind and solar will account for 96% of the total energy supply from renewables.
  • Greenhouse gas emissions will be reduced.
  • Renewable energy will employ 35 million people
  • Renewables will become more cost-effective, bringing their cost down to 53 euros/MWh.