The energy transition is continuing, with renewable energy’s share of global power output predicted to double in the next 15 years, while total fossil fuel demand is expected to peak before 2030, according to McKinsey’s annual report.
This year’s Global Energy Perspective is published at a time when global energy markets are confronted with unprecedented levels of uncertainty, including the Russia-Ukraine conflict. Despite this, the long-term shift to low-carbon energy systems is gaining traction and, in some respects, speeding up, with renewable power, hydrogen, and synfuels playing a particularly important role.
