Half the world’s electricity will be sourced from wind, solar and batteries by 2050, according to research from BloombergNEF (BNEF). The firm’s latest New Energy Outlook puts this investment opportunity at $13.3 trillion dollars with wind and solar taking $5.3 trillion and $4.2 trillion respectively. The key driver for this is the falling cost of the electricity produced from these sources, the levelized cost of energy (LCOE). In two-thirds of the world both wind and solar are now the cheapest options for adding new power capacity. The combined contribution of wind and solar is forecast to jump from 7% to 48%.

Source: Forbes June 20, 2019 21:00 UTC