Bloomberg New Energy Finance is now out with its yearly outlook — one that puts green energy in the driver seat and coal deep in the ground. But cutting edge technologies could easily alter those predictions.
The research firm is forecasting that coal use, globally, will fall from 38% today to 11% by 2050. Meanwhile, wind and solar electricity will make up 50% of the world’s energy mix — a function of the falling price of the underlying technologies as well as $548 billion being invested in storage capacity by 2050. On top of that, the report says that CO2 emissions will fall by 38% during that time.