BloombergNEF’s (BNEF) New Energy Outlook 2025 highlights the rapid growth of renewable power generation, predicting an 84% increase in renewable capacity by 2030. The report outlines the transition to a lower-carbon energy system, where cost-competitive renewable technologies meet the growing global demand for electricity.

BNEF’s Economic Transition Scenario (ETS) forecasts that power demand will rise by 75% by 2050, driven by factors such as economic growth, electric vehicles, and expanding data centers. As renewable energy sources like wind and solar become more cost-competitive, they are expected to play a crucial role in meeting this rising demand. By 2050, solar, wind, and other renewable sources are projected to provide 67% of global electricity, up from 33% in 2024.

The report also highlights the significant impact of data centers, which are set to become one of the largest drivers of electricity demand, accounting for 8.7% of global power consumption by 2050. To meet this demand, BNEF estimates that an additional 362 GW of power generation capacity will be needed by 2035.