New Energy
Iran Energy Shock Supports Boom in Renewables and Electrification
Solar power will be the single-largest source of electricity by 2032, BloombergNEF researchers said in their annual New Energy Outlook report.
Solar panels near Chinguetti, Mauritania.
Photographer: Kang-Chun Cheng/BloombergThe world’s hunger for electricity, as demand rises almost everywhere, will lead to solar becoming the dominant source of power early next decade, according to new analysis from BloombergNEF.
Surging demand from data centers, population growth, rising incomes and more battery-powered vehicles are all boosting demand for electricity, researchers wrote in BNEF’s annual New Energy Outlook on Tuesday. The report concludes that rapid electrification is set to accelerate the transition to clean energy.