Wind and solar batteries are set to attract $ $5.3 trillion of investment by 2050 , according to a projection by Bloomberg New Energy Finance ( Bloomberg New Energy Finance ). Rapid declines in the cost of the technology will cause funding to grow considerably over the next three decades , with renewables set to account for 100% of the world's energy supply. Under this projection, overall electricity demand would grow by a quarter compared to a future in which road transport and residential heat only electrify as far as assumed in the main NEO scenario. The report says wind and solar technology represent the least expensive means of adding new power-generating capacity to approximately two-thirds of the world, with that figure expected to grow over the next three decades .
Wind and solar batteries are set to attract $ $5.3 trillion of investment by 2050 , according to a projection by Bloomberg New Energy Finance ( Bloomberg New Energy Finance ). Rapid declines in the cost of the technology will cause funding to grow considerably over the next three decades , with renewables set to account for 100% of the world's energy supply. The report says wind and solar technology represent the least expensive means of adding new power-generating capacity to approximately two-thirds of the world, with that figure expected to grow over the next three decades .