20 Jan '12, 5pm

BP Predicts Renewables Growth Will Outpace Fossil Fuels

BP Predicts Renewables Growth Will Outpace Fossil Fuels

BP has confirmed renewables will remain the fastest growth sector in the global energy market over the next two decades. However, it has also warned that, without major technological breakthroughs, the roll-out of green technologies will fail to deliver net reductions in greenhouse gas emissions. The company's annual Energy Outlook report , released this week, predicts that the global switch in favor of renewable energy means that the sector, including biofuels, will grow at an average of 8 percent a year through to 2030. It will far outpace natural gas, the fastest growing fossil fuel, which is expected to expand at 2 percent a year. But the report also predicts that, with global energy demand likely to grow 39 percent over the period, the renewables sector will still only account for about 19 percent of global energy output by 2030, with fossil fuels accounting for the r...

Full article: http://www.greenbiz.com/blog/2012/01/20/bp-predicts-renew...

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