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Bankers Think Solar Will Grow Faster Than IEA Forecast

Bankers Think Solar Will Grow Faster Than IEA Forecast

Trying to stabilize worldwide temperatures will need huge investments in efficient solar energy in the near term, however these investments are feasible and will save billions of dollars in upcoming decades, which was recently detailed in a report from Citigroup.

Citigroup analysts created a scenario that around the year 2040 the electric sector could stay leaning toward fossil fuel – which breaks down as roughly 40%coal, 22% natural gas and 6% renewable energy. In another scenario, the percentage of fossil fuel would reduce from the 64% of today to 28%. Concurrently, consumption of power would increase at a slower pace due to efficiency measurables, while solar and wind create 22% of the combined electricity.

For more please visit greentechmedia.com

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