Bloomberg New Energy Finance
[Fortune] By 2040 the majority of the world’s energy will be clean, but new coal plants will also mean the world will be a much hotter place.
Over the next 25 years the world’s energy will slowly become cleaner and more distributed and more people will have access to electricity than ever before. But the transition from dirty to clean power won’t come fast enough, and carbon emissions from burning fossil fuels will likely lead to dangerous global temperature rises.
Those are the both uplifting, and utterly depressing, findings of a new report released Tuesday by the research group Bloomberg New Energy Finance.
The report found that by 2040, 56% of the world’s power will come from clean energy sources, compared to the current reality of two thirds coming from fossil fuels. Specifically for electricity, clean energy will provide 46% of the world electricity by 2040 with the bulk coming from wind turbines and solar panels.
Clean energy will represent 60% of the new power generating infrastructure built out over the next 25 years and will command two thirds of the total investment dollars in new power generating capacity, the report said. Solar in particular will account for 35% of new power generation infrastructure built out over the next 25 years, and $3.7 trillion will be spent on both small and large scale solar projects globally…