This is very revealing report on the current state of the ‘energy transition’ by Michael Cembalest, Chairman of Market and Investment Strategy for J.P. Morgan Asset Management group. Highlighted in the analysis is the rapid growth in renewables – particularly solar – in recent years. Globally, the combination of wind and solar power generation has passed nuclear and will surpass hydropower in 2025. However, as Michael states, “Yet after $9 trillion globally over the last decade spent on wind, solar, electric vehicles, energy storage, electrified heat and power grids, the renewable transition is still a linear one; the renewable share of final energy consumption is slowly advancing at 0.3%–0.6% per year.” The 53-page report is Michael and team’s 15th Eye on the Market Energy Paper. There are more than 150 well researched charts and tables with a revealing 9-page executive summary leading off. I encourage anyone with an interest in energy to look it over. Powering good!
Heliocentrism: Objects may be further away than they appear: Eye on the Market