The growth in renewable power generation will be especially strong in developing regions. Source: Bloomberg New Energy Finance

It also projected that in 2040, fossil fuels would still generate 44 percent of all power globally, down from 67 percent in 2014. For that reason, and because growing populations and emerging economies are increasing the demand for electricity, emissions will increase and peak in 2029 with more coal burning in developing countries offsetting the growth of renewables and the transition from coal to natural gas in developed countries like the U.S. But it found that even in the U.S., carbon emissions will only fall 22 percent over 2005 levels by 2030, rather than the U.S. Environmental Protection Agency's goal of 30 percent.

Electricity use will expand mainly in developing nations, but that demand can be met in large part by distributed solar. Source: Bloomberg New Energy Finance