New Laws of Commercial Registration and Trade Names take effect on Thursday    Civil Defense warns of heavy rains across Saudi Arabia until Monday    Saudi Exchange suspends trading of seven companies over financial disclosure delays    New fleet of 76 public transport buses starts operation in Jeddah on Tuesday Environmentally friendly electric buses introduced for first time    Foreign investors are allowed to engage in real estate business outside Makkah and Madinah Commercial speculation should not be the purpose of real estate transaction    EU preparing 'further countermeasures' to protect its interest, von der Leyen says    Tesla sales plunge after backlash against Elon Musk    Musk's X is suing India, as Tesla and Starlink plan entry    Israel announces expansion of military operation in Gaza to seize 'large areas' of land    US cancels visa of Nobel Peace Prize winner Oscar Arias    Danish prime minister refutes US claim on Greenland on visit to the Arctic territory    Aubameyang fires Al Qadsiah into King's Cup final with stoppage-time winner over Al Raed    Cristiano Ronaldo joins Fatal Fury: City of the Wolves    Saudi Arabia welcomes trilateral border treaty between Tajikistan, Kyrgyzstan, and Uzbekistan    Swedish table tennis legend Jörgen Persson appointed head coach of Saudi national team    Danilo Pereira fires Al Ittihad into King's Cup final with dramatic stoppage-time double    Screen time in bed linked to insomnia, study finds    Mexico bans junk food in schools to fight childhood obesity epidemic    Sweet sales surge ahead of Eid as Saudi chocolate imports top 123 million kg in 2024    Saudi creatives shine at Jeddah's Fawanees Nights with art, fashion, and storytelling    Bollywood actress vindicated over boyfriend's death after media hounding    Grand Mufti rules against posting prayers and preaching in mosques on social media    King Salman prays for peace and stability for Palestinians in Ramadan message King reaffirms Saudi Arabia's commitment to serving the Two Holy Mosques and pilgrims    Bollywood star Saif Ali Khan 'out of danger' after attack at home in Mumbai    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Study forecasts huge surge in electric vehicles in next 20 years
Published in Alriyadh on 02 - 02 - 2017

Use of electric vehicles could surge to account for around 35 per cent of the global road transport market over the next two decades and cause a drop in demand for fossil fuels, energy experts reported in Thursday.
Falling costs of electric vehicles and solar technology could mean forecasting models used by major energy companies are "seriously underestimating low-carbon advances," according to analysis by financial think tank Carbon Tracker and the Grantham Institute for climate change at Imperial College London.
Electric vehicles are likely to account for some 35 per cent of the road transport market by 2035 and more than two-thirds of the market by 2050, the report said.
It said its expected growth trajectory would see electric vehicles displace some 2 million barrels of oil per day by 2025 - the same volume that caused an oil price collapse in 2014-15 - and 25 million barrels per day by 2050.
Solar photovoltaic (PV) systems, including energy storage costs, could supply 23 per cent of global power generation by 2040 and 29 per cent by 2050, "entirely phasing out coal and leaving natural gas with just a 1-percent market share," it said.
"Electric vehicles and solar power are game-changers that the fossil fuel industry consistently underestimates," said Luke Sussams, a senior researcher at Carbon Tracker.
Sussams said more innovations could even "make our scenarios look conservative in five years' time."
"Most low-carbon pathways analysis considers what needs to be done to meet ambitious climate targets like 2 degrees Celsius," said Ajay Gambhir, a senior researcher at Imperial College, referring to the international target for limiting global warming this century.
"Here we've looked at what would happen to the global energy system and global temperature if the lowest-cost options are deployed, in light of the latest projections of PV and EV costs," Gambhir said.
The forecast growth for solar PV and electric vehicle technology could help limit global warming to around 2.3 degrees Celcius by 2100, the study said.


Clic here to read the story from its source.