Quantcast
Environmental News for a Healthier Planet and Life

BP Admits Renewables Will Grow Faster Than Natural Gas in Next Two Decades

Business
BP Admits Renewables Will Grow Faster Than Natural Gas in Next Two Decades

One of the largest fossil fuel companies in the world has the data to back up the rise in renewable energy that must of us expect in the future.

According to BP's Energy Outlook 2035, renewable sources likes solar and wind will grow at a faster rate than natural gas over the next two decades. Renewables are slated to grow by an average of 6.4 percent per year, while natural gas will only increase by 1.9 percent each year.

In 21 years, the world will get 14 percent of its power from renewable energy, compared to the 5 percent it received in 2012. BP predicts the European Union will be especially green by 2035 with 32 percent renewables.

On a global scale, carbon-free sources—renewables, hydro and nuclear—will combine to provide 37 percent of the world's power by 2035. That's a five percent increase from 2012.  

“Including biofuels, renewables are expected to have a higher share of primary energy than nuclear by 2025," the report reads.

Graphic credit: BP

On their own, renewable sources will overtake nuclear by 2028. Meanwhile, coal is expected to drop from 43 percent in 2012 to 37 percent in 2035.

Even a BP executive seemed mildly enthused about competition within the energy sector.

"[The report] highlights the power of competition and market forces in unlocking technology and innovation to meet the world’s energy needs," BP Group Chief Executive Bob Dudley said. "These factors make us optimistic for the world’s energy future.”

Despite the predicted rise in renewable energy deployment, BP says greenhouse emissions will rise by nearly one-third during the same period. Shale is slated to grow during that period, but not enough to offset emissions.

"The case for shale gas is crumbling," Tony Bosworth, Friends of the Earth energy campaigner, told The Guardian. "Experts say it won't lead to cheaper fuel bills, and now BP says it won't cut carbon emissions either."

Visit EcoWatch’s RENEWABLES page for more related news on this topic.

A hiker looking up at a Redwood tree in Redwoods State Park. Rich Wheater / Getty Images
By Douglas Broom
  • Redwoods are the world's tallest trees.
  • Now scientists have discovered they are even bigger than we thought.
  • Using laser technology they map the 80-meter giants.
  • Trees are a key plank in the fight against climate change.

They are among the largest trees in the world, descendants of forests where dinosaurs roamed.

Read More Show Less

EcoWatch Daily Newsletter

A female condor above the Hopper Mountain National Wildlife Refuge in Ventura County, California. Mel Melcon / Los Angeles Times via Getty Images

One environmental downside to wind turbines is their impact on birds.

Read More Show Less

Trending

Kentucky received record-breaking rainfall and flooding this past weekend. Keith Getter / Getty Images

Kentucky is coping with historic flooding after a weekend of record-breaking rainfall, enduring water rescues, evacuations and emergency declarations.

Read More Show Less
The Forest Vixen's CC Photo Stream. Flickr / CC BY 2.0

Spring is coming. And soon, tree swallows will start building nests. But as the climate changes, the birds are nesting earlier in the spring.

Read More Show Less
An Exxon oil refinery is seen at night. Jim Sugar / Getty Images

Citigroup will strive to reach net-zero greenhouse gas pollution across its lending portfolio by 2050 and in its own operations by 2030, the investment group announced Monday.

Read More Show Less