BP said in its annual Energy Outlook that renewable energy will grow faster than expected and will account for over one third of the growth in global power generation by 2035. It predicted that renewables will increase by 6.6% per year, resulting in a 9% share of total primary energy mix. BP likened the surge in renewable power to oil’s growth at the beginning of the 20th century. The report also noted that solar PV capacity is forecast to double from 2010 levels to more than 1 gigawatt (GW) by 2030. Coal growth will slow by 0.5% p.a., to an all-time low of 25% share of the primary energy mix, with gas becoming the world's second largest fuel source.
BP said in its annual Energy Outlook that renewable energy will grow faster than expected and will account for over one third of the growth in global power generation by 2035. It predicted that renewables will increase by 6.6% per year, resulting in a 9% share of total primary energy mix. The report also noted that solar PV capacity is forecast to double from 2010 levels to more than 1 gigawatt (GW) by 2030. Coal growth will slow by 0.5% p.a., to an all-time low of 25% share of the primary energy mix, with gas becoming the world's second largest fuel source.