2050 Mass Renewable Energy Scenario

Global energy company BP released its “Energy Outlook 2020”. The report predicts a shift in energy consumption. By 2050, renewable energy will be the primary energy source, replacing oil, which was the main source in 2018.

By 2050, BP predicts renewable energy (including biofuels) will dominate up to 44% in the rapid scenario. Meanwhile, in the net-zero and business-as-usual (BAU) scenarios, renewable energy consumption will reach 59% and 22%, respectively. In 2018, renewable energy consumption accounted for only 5% compared to other energy sources.

The prediction focuses on three potential energy scenarios: rapid, net-zero, and BAU. The rapid transition scenario is similar to the net-zero scenario. Both assume that strict government policies on emissions and rising carbon prices will accelerate the growth of renewable energy. However, the net-zero scenario assumes that consumers will change their behavior and preferences towards renewable energy.

The BAU scenario is based on government policies, technological developments, and consumer preferences. These three factors will develop, but at the same rate as in recent years. Therefore, there will not be much change between the current and future conditions.