Norwegian oil major Equinor in an update to its annual long-term energy market outlook said the share of electricity in the world’s final energy consumption is slated to rise from about 20% today to between 52% and 85% in 2050 – depending on how ambitious global energy transition efforts are.

In parallel, power generation by wind and solar would increase from 7% of global electricity production in 2018 to between 32% and 52% in 2050.