Bloomberg New Energy Finance report says coal usage will continue decrease due to lower costs to implement clean power generation. Combined with increased use of energy storage, renewables provide reliable power to meet customer expectations.
Each year, Bloomberg New Energy Finance peers far into the future to predict the trends that will shape energy markets in the years to come. Its New Energy Outlook 2018 report has just been released, and it sees demand for electricity rising as more electric vehicles come to market, but a sharp decline in coal-fired generating plants, thanks to the continued decline in prices for solar and wind energy. It also finds the market for battery storage both in front of and behind the meter has surged over the past year and will continue to grow faster than previously expected. The full report is only available to Bloomberg subscribers, but a public version is available online. Battery Storage To Increase Dramatically The growth of battery storage is the headline of the NEO 2018 report. “Wind and solar are set to surge to almost ’50 by 50′ – 50% of world generation by 2050 – on the back of precipitous reductions in cost, and the advent of cheaper and cheaper batteries that will enable electricity to be stored and discharged to meet shifts in demand and supply,” Bloomberg New Energy Finance claims. This year’s outlook is the first to highlight […]