Full Title: Energy Transition Outlook 2025
Author(s): DNV
Publisher(s): DNV
Publication Date: April 3, 2025
Full Text: Download Resource
Description (excerpt):
Emissions peaking is, of course, good news, and a milestone for humanity. However, since emissions are cumulative, we must now focus on how quickly emissions decline. Worryingly, this forecast decline is very far from the trajectory required to meet the Paris Agreement targets. The ‘most likely’ energy transition described in the pages that follow is one that leads to warming of 2.2°C by the close of this century. If we want a faster transition, we must understand what is working and what is not.
This Outlook quantifies the many efficiencies gained from a doubling of electrification globally in the next 25 years. These efficiencies result in very large cumulative benefits that should give policymakers justification to tackle the difficult hard-to-electrify sectors while doubling down on renewable technologies, including much-needed short-term support for offshore wind.