EnergyWatch

Analyst agency: Global energy costs will decline from 2030

In slightly more than ten years, the global consumer will be so energy efficient that the demand for energy will stagnate. Meanwhile, wind and solar power will grow and grow, according to a new study.

Photo: Mainstream Renewable Power

Monday, international analyst firm DNV GL issued a report which at first glance should be cause for celebration among those in the green energy industry. The report, Energy Transition Outlook, shows that the demand for energy will begin to ebb from 2030 due to a far more effective utilization of energy resources.

At the same time, wind and solar will continue growth rates, and in 2050 renewable energy will represent close to half of the global energy supply. And while the consumption of gas will decline from 2035, oil consumption will flatten from 2020 to 2028 before declining sharply, and coal will soon be history.

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