Electricity is the cornerstone of economic development and human prosperity. Reliable access to affordable and clean electricity unlocks the potential to meet foundational socioeconomic needs, including goals for industrialization, education, and public health.
For the first time, global demand for each of the fossil fuels shows a peak or plateau across all WEO scenarios, with Russian exports in particular falling significantly as the world energy order is reshaped.
DNV’s annual Energy Transition Outlook presents the results from our independent model of the world’s energy system. It covers the period through to 2050 and forecasts the energy mix, supply and demand globally and in 10 world regions.
Global electricity demand growth was met entirely by renewable power in the first half of 2022, halting the rise in fossil fuels.
The report highlights key energy security concerns during energy transitions and provides governments, notably within the Group of Twenty (G20), with policy recommendations for maintaining and improving energy security, while accelerating clean energy transitions to address the triple crises.