Wind capacity will have to grow ninefold
Obstacles to renewables growth can be addressed
Supply chain resilience, intermittency issues and ageing grids all stand in the way of decarbonising power supply
The amount of electricity generated by wind and solar will have to rise dramatically by 2050 in order to reach the goals of the Paris Agreement, according to figures from consultancy Rystad Energy. The bulk of growth will come from solar, where annual installations will have to grow sixteenfold, to a peak of 2,200GW/yr in 2039. Meanwhile, wind will have to grow ninefold to reach 553GW/yr in the same year. “We can overcome these challenges” Frimann-Dahl, Rystad Energy Overall, solar and wind will each require $1tn/yr to grow to supply 88pc of electricity demand globally by 2050, up from 10pc currently. The main challenges in reaching this goal are: supply chain resilience, intermitten
Also in this section
13 December 2024
Prices in world’s largest compliance market have risen this year but remain below those seen in the EU
11 December 2024
Policymakers need to step up with a long-term, global strategy if the energy transition is ever to be a success
11 December 2024
CCUS and other carbon management technologies are gaining traction around the world, but heightened policy risk and other pressures will make 2025 a challenging year in some regions
10 December 2024
Tightened standards have helped improve the outlook for the voluntary carbon market, which is set for a record year and poised for long-term growth
