Global energy demand to continue growth with shift to renewable energy: BP

The global energy demand would continue to grow for at least part of the period to 2050 and over this time, the structure of energy demand would shift to a declining role for fossil fuels by an increasing share for renewable energy and electricity, according to a BP’s latest report.

The report titled ‘BP Energy Outlook 2020’ is based on three scenarios, which are alternative assumptions about policies and societal ‎preferences and are designed to help explore the range of outcomes possible over the next 30 ‎years.

The ‘Rapid’ scenario assumes policies resulting in a sharp increase in carbon prices while the ‘Net Zero’ reinforces ‘Rapid’ with major shifts in societal behaviour. The third scenario is ‘Business-as-Usual’.

ET Energy World
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