Bloomberg New Energy Finance (BNEF) has published the New Energy Outlook 2018 Report.
Focusing on the electricity system, the New Energy Outlook (NEO) combines the expertise of over 65 in-house country and technology-level specialists in 12 countries to provide a unique assessment of the economic drivers and tipping points that will shape the sector to 2050.
Bloomberg NEF data indicate that the world has now installed more than 1,000 gigawatts (GW) of wind and solar power.
This wind and solar generation capacity installed is evenly balanced between the two: 54% wind and 46% solar.
This milestone is a sign that the world is making a clear progress towards a low-carbon transition, showing growing investment in renewable energy.
The report also estimates that by 2050, renewables supply 87% of electricity in Europe, 55% in the U.S., 62% in China and 75% in India.
"By 2050, wind and solar technology provide 48% of total electricity – “50-by-50” – with hydro, nuclear and other renewables providing a further 23% of zero-carbon electricity." Seb Henbest, BNEF
Read the full report here.