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BloombergNEF Report Projects Solar Leading Global Electricity Generation by 2032
BloombergNEF released its annual energy outlook on Tuesday forecasting that solar power will surpass coal as the largest source of global electricity by 2032 if current deployment trends continue. The report also projects continued growth for renewables through 2050 and slower electrification in the United States.
May 19, 11:49 AM·1m read1 source
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BloombergNEF released its annual energy outlook on Tuesday forecasting that solar power will surpass coal as the largest source of global electricity by 2032 if current deployment trends continue. 2 percent. 9 percent.
BloombergNEF analysts wrote that three energy shocks this decade—Covid-19, the war in Ukraine, and the Iran war in the Middle East—have highlighted volatility in the current energy system. 9 percent. 1 percent by 2050. The report notes that large-load facilities such as data centers are driving additional electricity demand, with global data center capacity reaching 84 gigawatts in 2025, up 20 percent from 2024.
Regional Differences and U.S.
6 percent of total electricity demand worldwide. The report states that China, India, and Europe are expected to see electrification dominate over fossil fuels by the early 2040s. The United States is projected to reach the point where electricity becomes the dominant fuel in 2047.
U.S. transition to the Trump administration’s support for coal and natural gas and its push to slow renewable energy development.
