Renewables could make up 77% of globe’s energy supply by 2050, according to IPCC report

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on reddit
Reddit
Share on email
Email

By 2050, nearly 80% of the world’s energy could be supplied by renewables, according to a new report from the UN’s Intergovernmental Panel on Climate Change (IPCC). The paper, which has taken more than 120 researchers over three years to produce, also claims that an investment of anywhere between US$2,850 and US$12,280 billion could be required to fund this green energy boom over the next 20 years.

Should these figures prove accurate, it would be a boon to an industry that was estimated to contribute just 13% to the global energy supply three years ago. Naturally, this growing reliance on solar, bioenergy, geothermal, hydropower, tidal and wind will also benefit the environment by cutting greenhouse gas emissions by 220 to 560 gigatonnes over the next 40 years.

The 1,000-page report has been approved by governments in 194 nations and analyses more than 164 scenarios on the long-term viability of renewables replacing fossil fuels. Four of these scenarios were investigated in detail and they showed that the renewables sector could account for as much as 77%, or as little as 15%, of global energy output in 2050. These wildly disparate numbers were mirrored in findings on the decadal investment, with figures ranging from US$1,360 – 5,100 billion for the period up until 2020 and US$1,490 – 7,180 billion for 2021 to 2030.

The report also revealed that solar was one of the energy sources with the most potential. At present, the sector contributes only a fraction of a percent of the world’s energy supply, but in some of the IPCC’s more optimistic forecasts, this number could rise to as much as 33% by 2050.

While the majority of scenarios saw solar account for around 10% of total energy production, the scope for growth remains considerable. Nevertheless, actual deployment is still dependent on continued innovation, cost reductions and supportive legislation.

The IPPC paper also stipulates that the aforementioned growth is heavily reliant on considerable governmental support. “The potential role of renewable energy technologies in meeting the needs of the poor and in powering the sustainable growth of developing and developed economies can trigger sharply polarised views,” said Youba Sokona, co-chair of the IPCC working group that unveiled the report in Abu Dhabi. “This IPCC report has brought some much-needed clarity to this debate in order to inform governments on the options and decisions that will needed if the world is to collectively realise a low carbon, far more resource efficient and equitable development path.”

10 November 2021
The solar tracker market continues to mature at breakneck speed, with designs and component selections becoming ever-more complex in the pursuit of better project economics. But a more simplistic design could deliver a triple benefit of lower Capex, EPC and Opex costs. This webinar will set out the ideal single axis tracker design for utility-scale solar farms. The design leapfrogs from decades of experience, with a comprehensive understanding and attention to the three cost structures of Capex, EPC and Opx. Sun and Steel Solar has prototyped a single axis tracker designed to deliver up to US$0.03/W in real savings compared to existing single axis trackers on the market. That’s US$30 million for every gigawatt deployed.
15 November 2021
The 10th edition of the famous Metallization and Interconnection Workshop, MIW2021, will take place in the Thor Central venue in Genk, Belgium, on Monday, November 15, and Tuesday, November 16, 2021 as a face-to-face meeting. We are longing for direct exchange of knowledge and ideas after a long time. Hopefully you can be part of it! But of course, the organizors will keep an eye on the evolution of the Covid pandemic. It will be assess carefully, whether the workshop can be held without major risks or excessive restrictions. We are looking forward to exciting talks, discussions and meetings and to welcoming you in Genk!
23 November 2021
The solar, storage and EV industries in the UK are going from strength to strength. There is no better place for the community to meet, share ideas and do business than Solar & Storage Live from 23-25 November at the NEC.There’s something for everyone; more than 150 exhibitors, a high-level conference, a start up and innovation zone, a poster zone, strategic partners to network with and much more. 
24 November 2021
In this webinar we will assess how these technical parameters and land characteristics can make a difference, in order to correctly make the choice between 1P or 2P trackers. There will be a comparison of the behaviour of Soltec’s 1P tracker, SFOne, and its 2P tracker, the SF7.
1 December 2021
Understand fully the technical and logistical supply chains that determine the production and performance of solar modules, including all related factors impacting quality, reliability & bankability. This event will be run online with streamed content, access to session recordings and chat/messaging tools for delegates to connect.
2 December 2021
Intersolar is the world’s leading exhibition & conference series for the solar industry. As part of this event series, Intersolar India in Mumbai is India’s most pioneering exhibition and conference for India’s solar industry. It takes place annually and has a focus on the areas of photovoltaics, PV production and solar thermal technologies. Since 2019, Intersolar India is held under the umbrella of The smarter E India – India’s innovation hub for the new energy world.

Read Next

October 27, 2021
Colombia has awarded contracts to 11 solar PV projects with a combined capacity of 796.3MW in its third renewable energy auction.
October 27, 2021
Microinverter supplier Enphase Energy reported record quarterly revenue in Q3 2021 but stressed the importance of price increases to help offset price volatility in its supply chain.
October 27, 2021
Spanish utility Iberdrola has expanded its investment in renewables and smart grid projects to €7.03 billion (US$8.15 billion) but its net profit suffered, falling 10.2% to €2.4 billion (US$2.78 billion), according to its recent financial results for 2021 release today.  
October 27, 2021
India installed around 8,811MW of solar between January and September 2021, a 280% increase on the same period of 2020, according to JMK Research & Analytics.
October 27, 2021
Swiss fund manager SUSI Partners is acquiring a portfolio of more than 200MW of distributed solar PV and wind assets in Chile, marking its first investment in Latin America.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
November 10, 2021
8am (PST) | 5pm (CET)
Solar Media Events
December 1, 2021