Renewable Energy will reach 49 percent in India by 2040: Report
New Delhi: As batteries and new sources of flexibility bolster the reach of renewables, the renewable energy will be reaching 49 percent in India, 55 percent in China, 74 percent penetration in Germany and 38 percent in the U.S. by 2040 anticipates newly released Bloomberg New Energy Finance`s (BNEF) annual long-term analysis of the future of energy- 2017 New Energy Outlook (NEO).
“Wind and solar energy account for 48 percent of installed capacity and 34 percent of electricity generation world-wide by 2040.
This is compared with just 12 percent and 5 percent today. Installed solar capacity increases 14-fold and wind capacity fourfold by 2040.