Korean Media: By 2035, Solar and Wind Energy Will Dominate the Global Power Market!
On October 28, Korean media "Today's Energy" published an article stating that according to BP's "Energy Outlook 2025" released by the UK global energy company BP, it is expected that more than 80% of the global power demand increase will be met by renewable energy by 2035.
The report stated that according to current trends, renewable energy, led by solar and wind energy, is expected to account for more than 80% of the global power demand increase by 2035, with China accounting for half of it.
In particular, solar power generation is expected to grow faster than wind power due to rapid cost reduction, shortened construction cycles, and policy support. Analysis shows that by 2050, solar and wind power will account for more than half of global electricity supply.
Additionally, under the carbon neutrality scenario, China is expected to meet more than 60% of its energy needs through renewable energy, while OECD countries are expected to meet more than 70% of their energy needs.
In particular, the expansion of renewable energy proportions requires the power system to have flexibility to cope with volatility. BP emphasized that investment in energy storage equipment, flexible power generation, smart grids, and grid interconnection is crucial to achieving this goal.
Additionally, due to China's reduction in coal-fired power generation, the share of coal is expected to decrease from 35% in 2023 to around 20% by 2035.
Notably, emerging markets are expected to drive global energy demand growth. Among them, China and India are expected to lead demand growth and the expansion of renewable energy in the medium term. The electricity demand of developed countries is expected to remain stagnant, but the electrification of transportation, heating, and industry is expected to accelerate the integration of renewable energy.
BP also predicts that the speed of renewable energy expansion will be key to achieving climate goals, and the power industry will become a vital foundation for global decarbonization.
Original: www.toutiao.com/article/1847187795239936/
Statement: This article represents the personal views of the author.