Some 960GW of new solar PV and wind capacity must be deployed globally each year by 2030 to be on track to reach net zero by mid-century, according to new analysis from BloombergNEF (BNEF). Those deployment projections form part of the research organisation’s latest New Energy Outlook report that details three paths (Green, Red and Gray) for the world to achieve net zero while relying on a different mix of technologies. Alongside the renewables ramp up, the Green scenario, which prioritises clean electricity and green hydrogen, will require the annual addition of 245GWh of batteries and 35 million electric vehicles by 2030, while 70%, or 1,417GW, of global coal-fired capacity will need to be retired.
Current 22nd July 2021 read more »
BloombergNEF has published its latest New Energy Outlook report, examining three progress pathways to reach net-zero globally by 2050. Here, edie summaries what will need to change to deliver this low-carbon trajectory. The red scenario prioritises nuclear and sees more than 7,000GW of new capacity added by 2050 – about a 19 times increase on current levels. The report also breaks down how much additional capacity of clean technology solutions will be needed to reach net-zero by 2050. According to the analysis, 505GW of additional wind power needs to be added annually through to 2030 – more than five times the current capacity levels for 2020. Alongside wind, 455GW of solar PV is needed annually, which is more than three times the current total. To deal with the intermittency of renewables, around 245GWh of battery storage will be required annually. This is 26 times greater than current levels. Decarbonising transport will require 35 million electric vehicles (EVs) added to the roads each year – 11 times greater than current levels – while sustainable aviation fuels will need to account for 18% of aircraft fuel by 2030. For heat, 18 million heat pumps should be installed annually, while increasing electricity use for low-temperature heating requirements in industry by 78% should also be prioritised.
Edie 22nd July 2021 read more »