World to Reach “Age of Renewables” by 2035

A new Wood Mackenzie's report forecasts that the world will shift from the age of oil and gas to the age of renewables by 2035, at which point nearly 20% of global power needs will be met by solar or wind.

According to Wood Mackenzie’s, not only will solar and wind play a major role in power generation by 2035, but EVs will do so too. The research has shown that over 20% of all miles travelled around the world by cars, trucks, buses and bikes will be with electric motors instead of gasoline or diesel. Oil demand displaced from EVs is expected to double to almost 6 million barrels per day by 2040. 

Share this post


Link to post
Share on other sites

That some would say was a rather conservative out look, with the trends in the market.

Share this post


Link to post
Share on other sites

I can see 15 to 20%. Renewables are a good partial solution. I read the zillion page paper by Wood MacKenzie last year. I think there are actually three time lines. One assuming pro-government. One assumes a mixed bag (kind of like today), and the other was government fights it (it does in many areas). Even with government fights it, as storage progresses those with money will progress to being off-grid capable as the economics allow it. And by 2050 or something lots of renewables. Economics will ultimately drive it, not green house gas issues. 

So much power is shifting to storage, laptops, phones, you could do much of your house that way with LEDS. Technology can drive your consumption way down. 

But as power consumption requirements are going up in most of the world, this doesn't necessarily mean traditional is shrinking, it slows the growth.

 

  • Like 1

Share this post


Link to post
Share on other sites
Sign in to follow this  
Followers 0