The world can shift to 100% renewable electricity sources by 2050 using today's technology and be more cost effective than the present fossil-fuel based system, according to research from Finland’s Lappeenranta University of Technology and Energy Watch Group. A new study published in Nature Climate Change shows that a transition away from fossil fuels is possible with current technology. Solar PV would cover 69% of electricity supply, wind 18%, hydro 8% and bioenergy 2%. About 31% of demand would be met by energy storage, of which 95% would be from batteries and the remainder from power-to-gas technology.
The world can shift to 100% renewable electricity sources by 2050 using today's technology and be more cost effective than the present fossil-fuel based system, according to research from Finland’s Lappeenranta University of Technology and Energy Watch Group. By 2050, 100% of power demand could be met by current renewable technologies, at a global average levelised cost of electricity (LCOE) of €52/MWh, compared with 2015’s average LCOE of €70. Solar PV would cover 69% of electricity supply, wind 18%, hydro 8% and bioenergy 2%. About 31% of demand would be met by energy storage, of which 95% would be from batteries and the remainder from power-to-gas technology.