Study: global energy transition misses climate targets

Study: global energy transition misses climate targets

By 2050, half of the world’s energy will come from renewable sources such as solar and wind power and nuclear energy. The other half will still come from fossil fuels such as gas, oil and coal. Today, they account for more than 80 percent. They have either already passed their zenith, like coal, or will start to decline in the future, oil as early as 2023 and gas in 2036, according to the latest energy study by the norwegian technical group DNV GL. It thus largely confirms its own forecast from a year ago.

According to the experts’ analyses, energy consumption will reach its peak in 2035 and will not increase any further. This is due to the increasing share of electrical energy and the digital control of energy production and distribution. This will make energy production considerably more efficient. The global energy revolution will be accompanied by a massive expansion of power grids. According to DNV GL, around $30 trillion (€25.45 trillion) will be invested in energy infrastructure worldwide by 2050.

Electricity will be abundantly and cheaply available in the future, schroter said. "Generation costs will drop significantly," said the energy expert. "We will see innovations that no one can yet imagine today."As early as 2027, every second car newly registered in europe will be an electric vehicle. Electricity for charging electric cars will be available free of charge in some cases.

Although DNV GL’s energy study is one of the few to predict declining energy consumption in the future, it too sees the paris agreement’s climate targets in jeopardy. By the end of this century, about 770 gigatons more CO2 will have been emitted into the atmosphere than allowed to limit global temperature rise to 2.0 degrees celsius. The authors of the study expect a rise of 2.6 degrees by 2100.

The group’s experts are not alone in their skepticism. Other long-term energy studies by major corporations, multinational organizations and associations are also moving in a similar direction. Just a few days ago, the head of the world meteorological organization (WMO), petteri taalas, had also announced that the climate targets of the paris agreement had not been met. Within the EU, efforts are therefore being made to save even more CO2 by 2030 than has been planned to date.

DNV GL is a technical testing and consulting company headquartered in oslo, norway. It employs more than 12.700 employees worldwide who inspect and analyze industrial plants, power stations, ships and other technical objects, as well as providing advice in the field of energy. A large proportion of them are involved in energy in one way or another, so the company has a lot of expertise in this area.

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