Monday, September 30, 2013

Shock Fact: Bloomberg New Energy Finance Forecasts Wind & Solar Will Total 33% Of Global Generation Capacity By 2030

The scale of the global solar and wind boom is still poorly understood within the energy industry and certainly within important media and political circles.  Simply put, it is gargantuan!

A new report from Bloomberg New Energy Finance underlines just how big the global solar and wind tsunamis are.  BNEF forecasts that wind and solar will be 33% of global generation capacity by 2030.

Today wind and solar total 7% of global electric generation capacity.  BNEF forecasts that wind jumps from today's 5% of global capacity to 17% by 2030, while solar soars from 2% today to 16%.

While wind and solar will constitute 33% of global capacity, if BNEF is accurate, they will not provide 33% of electric power produced by 2030. Due to the lower but improving capacity factors of wind and solar, they may provide between 10% to 15% of all electricity actually produced by 2030.

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