The bank’s research says volatile oil prices and surging electricity demand highlight the urgent need for a diversified energy mix to safeguard economic and energy security. The need for diversified energy sources is rapidly reshaping global power generation. Renewables and advanced technologies are projected to supply the majority of global electricity by 2100. Overall, increased global investment in renewables, including nuclear, solar and wind, is paving the way for a more stable and resilient future.
The key innovations to watch are:
1. Fusion reactor technology
2. Solar power
3. Onshore and offshore wind
4. Geothermal energy generation
5. Energy storage systems
6. Energy independence and resiliency