Accelerating electrification and tumbling costs mean annual increases in wind and solar installations could triple in the 2030s and 2040s, said oil & gas giant BP in its latest predictions for the global energy system.

BP in its latest Energy Outlook 2022 said ambitions to tackle climate change had “increased markedly” since 2020 when the last version was published, with wind and solar tipped to account for “all or most” new power generation over the 30-year timespan covered.