Electricity production is on a sustained charge
Renewable cost reductions and increasing storage availability will fuel exponential electricity growth
Electricity will more than double its share in global final energy demand by 2050, rising from 19pc today to 40pc in mid-century, according to our estimate of the most likely outcome of the ongoing energy transition. The forecast is based on our Energy Transition Outlook model that captures data and insights of hundreds of colleagues working on oil, gas, wind and solar power worldwide. Using electricity rather than fossil fuels is more energy efficient in many applications, such as vehicle propulsion. Consequently, using more electricity typically reduces final energy demand. Moving from thermal to wind, solar and hydropower also improves the energy system efficiency, as thermal power plant

Also in this section
3 July 2025
European Commission introduces new flexibilities for member states to ease compliance with headline goal
1 July 2025
Supportive government policy, deforestation threat and economic opportunity drive forward the region’s monetisation of forest carbon
27 June 2025
TotalEnergies’ delayed FID for its Venus project will likely set back first oil, but Windhoek has other irons in the fire
26 June 2025
Last year was one of records for renewables but also for oil, gas and coal, as the energy transition progresses in an increasingly uneven way, according to the Energy Institute’s latest annual report