Electricity production is on a sustained charge
Renewable cost reductions and increasing storage availability will fuel exponential electricity growth
Electricity will more than double its share in global final energy demand by 2050, rising from 19pc today to 40pc in mid-century, according to our estimate of the most likely outcome of the ongoing energy transition. The forecast is based on our Energy Transition Outlook model that captures data and insights of hundreds of colleagues working on oil, gas, wind and solar power worldwide. Using electricity rather than fossil fuels is more energy efficient in many applications, such as vehicle propulsion. Consequently, using more electricity typically reduces final energy demand. Moving from thermal to wind, solar and hydropower also improves the energy system efficiency, as thermal power plant
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12 December 2025
The latest edition of our annual Outlook publication, titled 'The shape of energy to come: Creating unique pathways and managing shifting alliances', is available now
12 December 2025
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The removal of the ban on oil and gas exploration and an overhaul of the system sends all the right messages for energy security, affordability and sustainability
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