Renewable sources of energy will provide nearly half of the world’s electricity by 2050, according to the U.S. Energy Information Administration.
Currently, 28% of global electricity is generated from renewable energy sources such as hydropower, wind and solar technologies.
In its International Energy Outlook 2019, EIA projects that renewables will collectively increase to 49% of global electricity generation by 2050. Of the top three renewable sources, EIA expects solar’s share of generation to grow the fastest and hydroelectric’s share to grow the slowest.
China likely will see the most growth in solar generation, followed by India, the United States and European countries in the Organization for Economic Cooperation and Development, EIA said.
As more solar power systems have been installed, installation costs have gone down. What’s more, solar resources are generally more abundant than wind resources and typically follow predictable daily and seasonal generation patterns, EIA said.
