Heating, Hydrogen And Efficient Homes Will Be The Keys To ‘Deep Decarbonization’

Renewable energy is now indisputably part of the mainstream electricity sector – part of what Michael Liebreich, the founder of Bloomberg New Energy Finance, calls “the new orthodoxy of the Three-Third World”. He says that “by 2040 one third of global electricity will be generated from wind and solar; one third of vehicles on the road will be electric; and the world’s economy will produce one third more GDP from every unit of energy”. The fact that we are on track for the Three-Third World is quite extraordinary. And it is probably unstoppable: wind, solar and battery costs will continue to fall faster than any mainstream energy forecasters expect. The bad news are that even though we are on track to achieve the Three-Third World by 2040, it will not be enough to reach the goals of the Paris Agreement. Electricity currently meets only just over 20% of the world’s final energy needs; and even if you add in the proportion of oil going into passenger cars and light trucks and you are still only addressing about a third of final energy consumption.

Source: https://www.forbes.com/sites/mikescott/2018/03/19/heating-hydrogen-and-efficient-homes-will-be-the-keys-to-deep-decarbonization/#3c837a5efea2

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