Photovoltaic and solar-thermal plants may meet most of the world’s demand for electricity by 2060 — and half of all energy needs — with wind, hydropower and biomass plants supplying much of the remaining generation, Cedric Philibert, senior analyst in the renewable energy division at the Paris-based agency, said in an Aug. 26 phone interview.
“Photovoltaic and concentrated solar power together can become the major source of electricity,” Philibert said. “You’ll have a lot more electricity than today but most of it will be produced by solar-electric technologies.”
The solar findings, set to be published in a report later this year, go beyond the IEA’s previous forecast, which envisaged the two technologies meeting about 21 percent of the world’s power needs in 2050. The scenario suggests investors able to pick the industry’s winners may reap significant returns as the global economy shifts away from fossil fuels. More >>>