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EV Special Report New Energy Outlook 2020

NEO 2020 Climate Scenario:
•BNEF has produced a Climate Scenario, to sit alongside its core
Economic Transition Scenario. This year, it investigates a clean
electricity and green hydrogen pathway to holding temperatures
to well below 2 degrees.
•This pathway describes a low-carbon future energy economy
supplying 100,000TWh of clean electricity by 2050. This is five
times all the electricity produced in the world today and would
require a power system that is 6-8 times larger in terms of total
capacity. Two-thirds of this energy would go to direct electricity
provision in transport, buildings and industry, the remaining third
to manufacturing hydrogen.
•For green hydrogen to supply just under a quarter of final energy
we would need 801MMT of fuel and an additional 36,000TWh
of electricity-that’s 38% more power than is produced in the
world today. Doing this with wind and PV might be cheapest,
but it would require 14TW of capacity covering 3.5 million square
kilometers -an area roughly the size of India.
•According to BNEF a clean electricity and green hydrogen
pathway requires between $78 trillion and $130 trillion of new
investment between now and 2050 to cover growth in electricity
generation and the power grid, as well as manufacturing, storing
and transporting hydrogen.