Net Zero by 2050: Solar and Wind Energy

In an age where technology has virtually taken over and is gaining control of the day to day activity of today's average man, the demand for electricity which is technology's life-source is astonishingly on the rise.

 Recent research conducted by BloombergNEF, it was discovered that man's current electricity demand is at a shocking 62% and which is his highest demand ratio ever since the invention of electricity in 1821 by Michael Faraday. The wake of the shift from fossil fuel has pushed man to seek energy sources which will compensate for this. With this data, a massive $13.3 trillion has been sunk into new projects that relate to renewable energy by investors in 2019 alone.

As we speak more money is billed to be invested in renewable energy, as investors envision more than half of the planet getting its electricity needs from both solar and wind energy, by 2050.

A new deal signed in Paris by various countries of the world called the Paris Climate Agreement has placed complying countries under duress to make do with carbon emissions or cut it down to the barest minimum by 2030. Fossil Fuel is a very large contributor to the menace called carbon or toxic emissions, globally. Most first and second world countries, as we speak are taking giant leaps in switching altogether from fossil fuel to renewable energy which is noiseless, smokeless and clean, altogether making renewable energy, be it solar or wind, environmentally-friendly.

To drive the nail to the head, lead analyst on the BloombergNEF report, Matthias Kimmel, had the following to say - To get emissions where we want them to be, we need something else. We need other technologies, to make deeper fossil fuel cuts, at a reasonable cost, a reality.

Investors are making sure that wind and solar energy account for 50% or more of Earth's electricity supply come 2050, while other renewables like nuclear and hydro will account for an additional 21% of Earth's electricity supply by 2050.

Termed, The Power Shift or Vision 2050, this drive to make the planet a better place by providing clean and affordable electricity to it's inhabitants through renewable energy, is one that is nearing actualization, with the day.

Suffering a drastic plunge and risking an outright exit from the energy market is a one-time-key player, Coal. As we speak, Coal which was once a key contributor in global electric power generation has within this decade suffered a 37% plunge, which is expected to deepen to a 12% by 2050.

Other renewable energy sources that will compensate for the remainder of electric power needed to light up the whole planet, include - fuel cells, the technology that harvests electric energy off ocean tide, and geothermal devices.

With the drop in the price of renewable energy devices globally, the Power Shift Project is coming up at an 85% rate faster than anticipated and with this, it might hit a 90% completion stage by 2040, hopefully.