Bloomberg New Energy Finance has just published its “New Energy Outlook”. They model two global scenarios:
The Economic Transitions Scenario based on their assessment of how the energy transition might evolve from today as a result of cost-based technology changes, and
The Net Zero Scenario, which it describes as “an economics-led evolution of the energy economy to achieve net-zero emissions in 2050.”
For the electricity sector, the mix of generation in these scenarios out to 2050 is shown here. It simply demonstrates the need (and challenge) for policy makers to find the mix of price signals, rules, regulations and incentives to accelerate change from the cost-based technology path. Electricity market design could not be more important than it is today.
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