BP's Energy Outlook 2024: Navigating the Future of Energy

Both scenarios predict a substantial increase in renewable energy capacity, particularly from wind and solar power. Under the Current Trajectory, wind and solar capacity is expected to grow eightfold by 2050 compared to the 2022 levels. In the Net Zero scenario, this expansion is even more dramatic, with a 14-fold increase. This rapid growth is supported by continuing declines in technology and production costs, making renewables increasingly competitive with traditional energy sources. You can see the comp ...