Sunday, September 27, 2020
Home Reports DNV GL: Energy Transition 2020

DNV GL: Energy Transition 2020

The Energy Transition 2020 Outlook covers the period through to 2050 and forecasts the energy transition globally and in 10 world regions.

Due to delayed economic growth and behavioural changes, global energy demand is forecast to reduce by 8 per cent in 2020 and will continue to fluctuate 6-8 per cent lower through to 2050 than in an equivalent non-COVID situation. The drop-off in demand will influence consumption for all energy sources: oil and coal are most severely impacted, followed by gas, with renewables least affected.

In a few decades, power systems in most regions will be dominated by solar and wind – boasting CLRs of between 16 and 28 per cent for the core technologies. But not all sectors can be electrified and hydrogen is increasingly being seen as key to decarbonisation targets.

However, despite a rapidly growing share of renewables, the energy transition that DNV GL forecasts is not fast enough to bring the world to within reach of the goals established by the Paris Agreement. The Outlook forecast points towards warming of 2.3°C by the end of this century, a level considered dangerous by the world’s scientific community.

Read the full report here.

Most Popular

Kosovo to expand its wind capacity with 57.5 mln euros EBRD loan

Kosovo, a country heavily reliant on coal, took a major step towards the decarbonisation of its electricity sector with the help of a 57.5 mln euros loan from the EBRD to finance the construction of a 105 MW wind farm.

PGNiG Upstream Norway acquires two new fields in the North Sea

PGNiG Upstream Norway signed an agreement with Norske Shell to acquire interests in Kvitebjørn and Valemon, two producing fields in the North Sea. The gas produced will be sent to Poland after the Baltic Pipe link is launched.

Antje Kanngiesser appointed new CEO of the Alpiq Group

Antje Kanngiesser has been appointed as the new CEO of the Alpiq Group, the leading Swiss electricity producer.

Taking account of social and environmental impacts ahead of the World Tourism Day

Tourism has been among the hardest hit of all sectors by the COVID-19. On this World Tourism Day, the pandemic represents an opportunity to rethink the future of the tourism sector, including how it contributes to the sustainable development goals.