BNEF NEO: “Every year a big surprise” …2018’s is wind & solar at nearly 50% of global electricity by 2050

“Wind, solar and batteries are set to become far more deeply entrenched in the generation mix of almost every country than anyone has so far thought possible”: Seb Henbest, BNEF team leader.

“That is the headline message of the NEO 2018. In fact, we claim solar and wind have already won the race for cheap, bulk electricity – it just hasn’t finished playing out yet. In the report, we strip away policy drivers and show how economics alone might deliver a least-cost system filled with clean energy by the middle of the century. At its heart, NEO is a technology story. It is the story of a shift from resource economics and fuel extraction, to manufacturing, where large-scale production of thousands of small modular components in a competitive environment drives incremental innovation and dramatic cost declines.”

Fabulous stuff. But ….a prediction: another undershoot of ultimate reality. And maybe to be revised down as soon as next year!  A comment most surely not to be interpreted as lack of appreciation of this team and its work.

Image: from article

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