The Energy Outlook explores the forces shaping the global energy transition out to 2040 and the key uncertainties surrounding that transition. It shows how rising prosperity drives an increase in global energy demand and how that demand will be met over the coming decades through a diverse range of supplies including oil, gas, coal and renewablesThe mix of fuels in global power generation shifts materially, with renewables gaining share at the expense of coal, nuclear and hydro. The share of natural gas is broadly flat at around 20%.
Renewables account for around two-thirds of the increase in power generation, with their share in the global power sector increasing to around 30%. In contrast, the share of coal declines significantly, such that by 2040 it is surpassed by renewables as the primary source of energy in the global power sector.
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