Global Emissions Going Down
Wind, PV sends energy emissions into decline from 2027; Renewables will account for 56% of global electricity generation by mid-century
27 October (reNews)
“Capacity from “super-competitive” wind and solar power will contribute to a steady fall in emissions in energy generation from 2027…[The BloombergNEF’s (BNEF) New Energy Outlook (NEO) 2020] shows that from 2027 energy emissions fall at a rate of 0.7% per year to 2050…based on uptake of electric vehicles and improved energy efficiency across industries, in addition to “huge buildout of ‘super-competitive’ wind and solar power”…[which] will account for 56% of global electricity generation by mid-century and together with batteries take 80% of the $15.1trn invested in new power capacity over the next 30 years…
…[T]he drop in energy demand due to the coronavirus pandemic will remove some two and a half years’ worth of energy sector emissions between now and 2050…[and, though] the economic recovery will lead to an increase, emissions from fuel combustion in the energy sector will “never again” reach 2019 levels…[C]oal-fired power peaks in China in 2027 and India in 2030, collapsing to 12% of global electricity generation in 2050…[Natural gas] is the only fossil fuel to keep growing…up 0.5% year-on-year to 2050, growing 33% in buildings and 23% in industry where there are few economic low-carbon substitutes…[E]nergy sector emissions will put the world on course for a 3.3 degrees Celsius temperature increase by 2100…” click here for more
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