What it is
BloombergNEF's flagship annual report models the global energy transition across electricity, transport, industry, and buildings through 2050. It tracks technology cost curves, investment flows, and policy impacts with granular country-level data. The 2023 edition covers three scenarios: Economic Transition, Net Zero, and Green.
Why we picked this
If you want to understand where the energy transition is heading based on economics rather than politics, BNEF is the benchmark. Investors, utilities, and governments use these projections to allocate capital. The cost curve data alone is worth the read.
Key takeaways
- Li-ion battery pack prices fell 90% from approximately $1,400/kWh in 2010 to $139/kWh in 2023, and are projected to fall below $100/kWh before 2025.
- BNEF's global solar benchmark hit a record low of $41/MWh in the second half of 2023.
- In markets representing roughly 60% of global electricity generation, building new solar or wind is now cheaper than running existing coal and gas plants.