Low Emissions Scenario
The energy sector is in the midst of a rapid transition with profound technological, political and market-based changes. In order to deepen our understanding of market trends, Statkraft develops long-term scenarios that provide insight into how global energy markets could transition in the future.Scroll down to see highlights
Solar and wind power will be cheaper
We estimate the power sector globally reaches a renewable share of 80 per cent by 2050.
In 2035 solar power will become the largest source of power generation on a global basis and cover almost 40% of all electricity generation. Wind power will cover 30%.
Energy-related greenhouse gas emissions in 2050 will be about 44 per cent lower than today with emissions following a pathway that is consistent with the two degree target.
By 2050, electricity will cover over 40 per cent of energy consumption in the buildings, industry, and transport sectors. The scenario expects that almost all new passenger vehicles sold will be fully electric in 2050.
Low priced clean electricity will give more people access to power and electrification will be an important climate solution.
The cost of solar power falls with 50% and wind power with 40% by 2050.
The cost of increasing the climate ambition from 2 to 1,5 degrees is lower than 1% of GDP and by far lower than the cost of doing nothing.