One of the world’s leading energy companies, BP is predicting renewable energy sources to be influential in shaping the global energy sources by 2040. The report released by BP proposed that renewable energy will grow in five-folds within the next twenty-two (22) years to provide 14% of the world’s primary energy. A growing competition in solar and wind-sourced energy will be a major factor in the expected energy shift. And its rapid development is expected to be enhanced by government policies and technology advancement, according to the 2018 energy outlook. “We’re seeing a number of forces come together to make global energy markets increasingly competitive. Demand grows less quickly as we get better at using energy more efficiently,” says Spencer Dele, Chief Economist of BP group. Spenser also revealed that most contributions to the energy transition will come from Asia, with China and India contributing about 50%. “All the […]