Dive Brief:
- Wind could generate up to 18% of electricity worldwide by 2050, according to a new report from the International Energy Agency (IEA). Nearly 300 GW of wind generate 2.6% of global power today.
- IEA projects renewable energy will provide between 57% to 71% of global electricity, with 22% to 32% of those renewables being variable.
- IEA projects annual investments in wind will double from $78 billion in 2012 up to $150 billion per year.
Here's a graphic depicting IEA projections of the global electricity mix by 2050. Click to enlarge.
Dive Insight:
IEA cites upgrades wind technology and "the changing global energy context" as the main drivers behind their lofty prediction. Cost of land-based wind is just about cost-competitive with other generation resources, IEA says, while offshore wind is "expensive and technically challenging today, but has an important long-term potential."
