Energy Outlook said in its annual BP that renewable energy will grow faster than expected and will account for over one third of the growth in global power generation by annual . It predicted that renewables will increase by 0.5% per year, resulting in a 9% share of total primary energy mix. Faster-than-expected technology cost reductions and the anticipated government policies that will support low-carbon energy contributed to the company's increased forecast for renewables growth to 25% . 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. Faster-than-expected technology cost reductions and the anticipated government policies that will support low-carbon energy contributed to the company's increased forecast for renewables growth to 14%. 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.