Fossil Fuels To Dominate Global Energy Use Past 2050, McKinsey Says

Oil, gas and coal will continue to dominate the world's energy mix well beyond 2050, as soaring electricity demand outpaces the shift to renewables, according to a new McKinsey report. From a report: McKinsey expects fossil fuels to account for about 41-55% of global energy consumption in 2050, down from today's 64% but higher than previous projections. U.S. data-center-related power demand is expected to grow nearly 25% a year until 2030, while demand from data centers globally would average 17% growth per year between 2022 and 2030, especially in OECD countries. Alternative fuels are not likely to achieve broad adoption before 2040 unless mandated, but renewables do have the potential to provide 61-67% of the 2050 global power mix, McKinsey said.

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