The global energy demand is set to grow by more than a quarter to 2040 according to the World Energy Outlook 2018 by the International Energy Agency (IEA). The growing trend is mainly due rising incomes and an extra 1.7 billion people, mostly added to urban areas in developing economies.
Renewables is the technology of choice, reaching two-thirds of global capacity additions to 2040. The share of renewables in generation is expected rising to over 40% by 2040, from 25% today.
New Energy Outlook 2018 by BloombergNEF sees USD 11.5 trillion being invested globally in new power generation capacity between 2018 and 2050, with USD 8.4 trillion of that going to wind and solar.