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In the global push for climate-friendly infrastructure, no task
is more central than the modernization of the world’s
electric power sector.
By 2050, renewable sources — wind, solar and hydro — are projected to produce two thirds of the world’s electricity, and electricity is expected to be the world’s main way of consuming energy. (See charts below.) Employing variable renewable energy on this scale is a massive undertaking, one that entails sweeping changes across the electricity value chain and presents opportunities for investors to pursue both financial and sustainability objectives.
In this dynamic and competitive market, we believe investors need to:
Climate concerns are now combining with technological advances to transform a sector which, despite the mainstreaming of wind and solar power, still relies mainly on fossil fuels and centralized architectures that date back a century or more. We believe this deep, durable trend presents attractive opportunities for investors equipped to act on them.
A growing role for renewables—and also for electricity
Left: Current and projected sources for electricity generation
Right: Electricity’s share of final energy demand
Sources: Left: BlackRock using data from IEA, Bloomberg New Energy Finance, May 2019. Right: BlackRock, using data from DNV-GL, May 2019. Final energy demand accounts for direct use of energy carriers in transport, buildings and manufacturing. Power generation is excluded. PJ: one quadrillion joules.,Important Information: Any opinions or forecasts represent an assessment of the market environment at a specific time and are not intended to be a forecast of future events or a guarantee of future results. There is no guarantee that any forecasts made will come to pass.