23 - 25 June 2019 06/23/2019 06:00 AM 06/25/2019 10:00 AM America/Los_Angeles AOGC 2019 FORGING A NEW ENERGY FUTURE Kuala Lumpur Convention Centre

NEWS

When, why and how is the global energy transition going to happen?
The great fuel switch is already underway – we do the maths
"The pendulum is starting to swing. The leading players recognize it and will commit an increasingly higher proportion of capital to power and renewable into next decade." Simon Flowers, chairman and chief analyst, Wood Mackenzie
What is a global energy transition?
An energy transition disrupts the status quo. A new energy source emerges, leading to a structural and permanent change in supply, demand, energy mix and prices.

At stake are the fortunes of energy and infrastructure companies, end-use customers, financial and service companies, supply chain participants and technology providers.

All will face both threats and opportunities.

"Accelerated technological advancements have created a bridge between futuristic goals of smart connected cities with autonomous systems and a large-scale commodity switch. The result is that the energy transition seems less the plot of a sci-fi movie and more of a feasible, albeit ambitious, plan." Prajit Ghosh, global head of power & renewable strategy, Wood Mackenzie
What's the time frame for transitioning to an age of power and renewable?
With the current global energy transition well under way, two primary technology drivers have emerged: renewable and the use of electric-based technologies in transportation. In this recent report, we outline how those two drivers will lead to sustainable technologies — such as autonomous driving and the wider application of advanced grid-edge and machine learning applications — effectively becoming the norm by 2035, less than 20 years away.

By 2035, close to 20% of global power needs will be met by solar or wind. Similarly, upwards of 20% of all miles traveled globally by cars, trucks, buses and bikes will use electric motors rather than gasoline or diesel.

After 2035, we expect to see adoption rates for renewable generation and electrified transport increase rapidly as they become the default choice across many energy systems around the world. So much so that half of all new power plants constructed globally are either solar or wind, or a hybrid combination with storage. Plus, half of all additional miles traveled by road will use an electric vehicle.
What's next for companies and investors?
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