Leading analysts and consultants Wood Mackenzie have recently released a report stating that 2035 is the year that the world is expected to move away from oil and gas energy to renewables.
Is this a quick enough transition?
What is the significance of the year 2035?
According to analysts, to achieve the switch, also known as the Global Energy Transition (GET), just a 20% market share or 50% of sales activity within the global economy is required.
We don’t think that this goes far enough….
It is widely recognised that the only viable future for the planet is a world of 100% renewable energy sources. It is now also widely becoming realised that this will be the most cost-effective solution to the world energy problem.
Electrification of vehicles, together with solar and wind power sources are key to the 100% strategy. Wood Mackenzie define that “…by 2035, the convergence of the two will usher in the age of renewables”. By this point, acceptance of autonomous driving and sustainable technology will also be considered the norm.
Currently power and transport account for 70% of global coal demand, 50% of oil and 30% of gas, so it is these areas that the firm believe the focus should be on.
Global warming and 2035
The intergovernmental panel on climate change have just released a report that states unprecedented changes in all aspects of society are required to avoid the 1.5°C limit that they have set for global warming.
To achieve this, the world economy will need to invest $2.4 trillion dollars before 2035 to reach the point predicted here, and, more importantly, a net-zero carbon emission target of 2050.
But why are we telling you all of this? Simple. Because we have a product that we know can reduce or replace oil usage, one household, business, or building at a time. And small steps lead to a big change.
Sources and credit: https://www.pv-magazine.com/2018/10/18/2035-the-renewable-energy-tipping-point/