Shell, the world’s sixth-largest oil and gas company, just published a future "sky" scenario that's getting a lot of attention. That potential future: By 2050, renewables could overtake oil, gas and coal as the primary energy source; by that date, it could be “impossible” to purchase a new internal combustion car; and by 2070, there could be 10,000 carbon capture plants operating globally. Shell's energy transition report is receiving mixed reactions. Many energy experts are hailing Shell for putting together such an ambitious document. A lot of environmentalists are cynical, since oil and gas still play a prominent role in the company's future vision. In this week's episode, we're going to walk through the different scenarios outlined by Shell. We'll also discuss what Shell's business might look like beyond 2050, as the company acquires more electricity retailers, EV charging assets and renewable energy developers. This podcast is supported by Wunder Capital, the easiest way to invest in large-scale solar energy projects across the U.S. With Wunder, you can help finance renewable energy projects while earning up to 7.5 percent annually. Get started here to diversify your portfolio and support American solar projects. This podcast is brought to you by Shoals, the gold standard for solar and storage balance-of-systems solutions. Learn more about how Shoals can make your project operate at the highest level. Recommended reading: Subscribe to The Interchange podcast via Apple Podcasts, Google Play, Stitcher or wherever you find your audio content.
An aggressive scenario outlined by oil and gas company Shell predicts power from renewable sources could overtake oil, gas and coal as the world's primary energy source by 2050. The report says that if current trends continue, global electricity demand will increase to about 50 billion kilowatt hours per year in 2030.