The company’s new report outlines the acceleration of energy transition through the rapid uptake of renewable energy.
DNV GL had global experts from technology, policy, markets and financial disciples as well as industry leaders contribute to the report and outline their strategies to accelerate the transition and define the necessary steps to meet the 2050 climate goals.
Titled Transition Faster Together: Renewable solutions, strategies and policies for a clean energy future, the report forecasts that by 2050, 66 per cent of the world’s electricity will be generated from renewable energy sources.
DNV GL also predicts another significant rise in renewables owed to decreasing cost of energy for onshore and offshore wind projects, the availability of lower costing and more efficient solar modules and advanced energy storage solutions.
Focus areas – being technologies, new business models, policies and regulations and investment – are outlined in the report to demonstrate where concentrated efforts can enable the large-scale uptake of renewable energy to help limit the global temperature rise to 1.5°C and meet the Paris Agreement goals.
DNV GL CEO Ditlev Engel said it is global knowledge that we need to change the forecast to prevent a rise in the average global temperature to 2.4°C above pre-industrial levels.
“To do so, we must transition to a clean energy future faster, much faster,” he said.
“Although there is no silver bullet, there are steps that governments, businesses and society can take.
“Innovation is thriving and can deliver change at a rapid pace; but we need a combination of measures with technology, business models, policy and investment all working together to move towards a low-carbon future.”
Click here to read the full report.
For more information visit the DNV GL website.
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