The BP Energy Outlook outlines the “most likely” path for the global energy landscape – supply and demand – over the next 20 years.
The Energy Outlook considers a base case, which outlines the “most likely” path for energy demand based on assumptions about future changes in policy, technology and the economy. In the base case, world GDP more than doubles, but unprecedented gains in energy efficiency, mean that the energy required to fuel the higher level of activity grows by only around a third over the Outlook.
“We expect that the mix of fuels to change quite significantly over the next 20 years, gas to grow quickly, also strong growth in renewables like solar and wind.”
Spencer Dale, BP Chief Economist
Fossil fuels remain the dominant form of energy powering the global expansion: providing around 60% of the additional energy and accounting for almost 80% of total energy supplies in 2035. Renewables grow rapidly, almost quadrupling by 2035 and supplying a third of the growth in power generation.
Beyond the base case, the BP Energy Outlook examines some of the key issues that will shape energy supply and demand through to 2035, and explores possible alternative outcomes.
To view the BP Outlook Report please click here.
(Source: BP plc)