The energy system is changing at a rate that was almost unthinkable just a few years ago. Onshore wind and solar power are expanding rapidly. The decline in costs for renewable technology and other key technologies, such as batteries and electrolysers, will impact the entire energy sector going forward. This article presents how the global energy system will transition, assuming that the growth trends we have seen in renewable technology in recent years continue over time.
Solar PV is the fastest-growing energy source in the world and production increased sharp reduction in the production costs of solar PV panels, relatively short project development time, and increasing demand for renewable energy mean that solar PV will grow faster than any other energy sources towards 2050 in the Low Emissions Scenario.
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