New Energy Outlook 2017 is Bloomberg New Energy Finance’s latest annual long-term forecast for global power, based on detailed analysis country-by-country and technology-by-technology of electricity demand, costs of generation and structural changes in the electricity system. It draws on the expertise of 65 analysts and researchers around the world specialising in the energy transition. The assessment focuses on the cost of wind and sola technology, battery storage, electricity demand, electric vehicles and consumer dynamics, but also coal, gas and oil markets are considered.
The main points of the Outlook are the following:
- The document predicts a percentage of 34 percent of electricity generation by wind and solar by 2040.
- Price reductions amount to 66 percent for solar PV by 2040, 47 percent for onshore wind and 71 percent for offshore wind.
- The market for lithium-ion batteries is projected to increase tenfold from today.
- Only 35 percent of new coal power plants that are in planning will be built due to the cost reductions in renewable energies. Coal-fired power generation will peak in 2026.
- Although considerable progress is projected in the power sector, the developments will not suffice the targets contained in the Paris Agreement.
An executive summary of New Energy Outlook 2017 is available for download.