It is possible that renewable energy could supply 100% of the world’s needs by 2050, says the World Wide Fund for Nature (WWF) in The Energy Report released this month.
The 256-page report, which took two years to compile, presents a global energy scenario that moves away from conventional fossil fuels to renewable sources by mid-century.
“This report shows such a transition is not only possible but also costeffective, providing energy that is affordable for all and producing it in ways that can be sustained by the global economy and the planet,” says James Leape, director general of WWF International.
“I hope it will inspire governments and business to move boldly to bring the renewable economy into reality.”
The report notes that increases in capital expenditure will be necessary to install renewable energy on a huge scale, modernise electricity grids, transform goods and public transport and improve the energy efficiency of existing buildings.
But the investments will begin to pay off in about 2040, when the savings will start to outweigh the costs.