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Bloomberg New Energy Outlook says 50% renewables by 2050

  Bloomberg’s annual New Energy Outlook (NEO) report has been released, and projects that the global energy mix will be 50% by 2050, driven by falling renewable and battery storage costs. The projection makes for grim reading for fossil fuels, and the NEO believes that even nuclear won’t gain ground thanks to the capabilities of today’s renewable-based technologies. As more and more renewables are installed, typically in a decentralized manner nearer the points of consumption, the need for smart grid technologies will grow. Without such systems in place, renewables can’t grow to the level projected by Bloomberg, as the utilities and distribution companies will need to be able to see real-time consumption data so that they can optimize delivery and…

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