Green Building Community

Energy Forecast: The Economy Will Shift From Using Two-Thirds Fossil Fuels in 2017 to Two-Thirds Renewable Energy in 2050

YijunW CA, United States 0 Ratings 53 Discussions 0 Group posts

Posted by: YijunW

2018 Bloomberg New Energy Outlook Brief Report

Bloomberg publishes a long-term economic analysis of the world’s power sector up to 2050 each year, called New Energy Outlook (NEO).

NEO* 2018 sees $11.5 trillion to be invested internationally in new power generation capacity between 2018 and 2050, with 73 percent going to wind and solar and a further $1.5 trillion other zero-carbon technologies such as hydro and nuclear.

NEO also predicts that cheap renewable energy and batteries will fundamentally reshape the electricity system, as the economy transitions from two-thirds of fossil fuels in 2017 to two-thirds of renewable energy in 2050.

By 2050, wind and solar technology will provide close to half of the total electricity globally with hydro, nuclear and other renewables. NEO expects by the end of 2050, only 29% of the electricity production worldwide to result from burning fossil fuels, down from 63% today.

The outlook also reports the cost of an average photovoltaic power plant and wind energy are expected to fall by 71% and 58% by 2050. In a global perspective, by 2050, renewables will supply 87% of electricity in Europe, 55% in the U.S., 62% in China, and 75% in India.

To view more, please visit



Please be kind and respectful!

Please make sure to be respectful of the organizations and companies, and other Rate It Green members that make up our community. We welcome praise and advice and even criticism but all posted content and ratings should be constructive in nature. For guidance on what constitutes suitable content on the Rate It Green site, please refer to the User Agreement and Site Rules.

The opinions, comments, ratings and all content posted by member on the Rate It Green website are the comments and opinions of the individual members who posts them only and do not necessarily reflect the views or policies or policies of Rate It Green. Rate It Green Team Members will monitor posted content for unsuitable content, but we also ask for the participation of community members in helping to keep the site a comfortable and open public forum of ideas. Please email all questions and concerns to