A Bloomberg New Energy Finance (BNEF) report plots out global power markets for the next 25 years.
If accurate, solar energy will soon dominate, and electric cars will go mainstream.
The forecast states coal and gas are in terminal decline because of the “beautiful math” of declining solar and wind costs.
Peak Fossil Fuel Usage
In contrast to peak oil forecasts that have been in vogue, BNEF says the World is on the Brink of Peak Fossil Fuels for Electricity.
It’s not that we running out, but rather solar and wind will become so cheap, it will cost too much to use fossil fuels.
Here are the eight shifts BNEF sees coming.
Seven of Eight
That was one of the best Bloomberg articles I have seen in a long time.
BNEF laid out some nice ideas to consider, marred slightly with global warming nonsense in point eight.
If the report is even close to being accurate, geopolitical questions and concerns hit the spotlight.
Geopolitical Questions and Consequences
- How much carnage did the US needlessly cause in the Middle-East over oil?
- How quickly will the oil producing countries be in serious trouble?
- Are tensions with India about to pick up?
- Other than India (and perhaps even India), countries sitting on stockpiles of coal, may have little use for those stockpiles.
It remains to be seen if things play out that way, but if so, huge changes are coming, by 2025.
For trends of a different nature, please see Mary Meeker on Internet Trends – An Excellent Presentation.
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