Renewables Projected to Dominate Global Power by 2035
A new Statkraft report shows renewable energy gains helping secure power grids as global electricity demand rises.
Updated on Oct. 13, 2026 in Electric Vehicles
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Renewable energy will likely become the world's primary source of electricity by 2035, according to the Green Transition Scenarios 2026 report published by Statkraft. The report highlights how electrification through technologies like electric vehicles and heat pumps is central to improving global energy security.
Why it matters
Electrification serves as the foundation for industrial competitiveness and reduced reliance on energy imports. By replacing fossil fuel alternatives, these transitions aim to cut energy-related CO2 emissions by up to 56 percent by 2050.
Renewable sources accounted for 48 percent of EU electricity in 2025, up from 38 percent in 2021. Norway currently generates 98 percent of its electricity from renewable sources.
The players
Statkraft
Statkraft is a leading company in hydropower internationally and Europe's largest generator of renewable energy.
The details
The report finds that electric vehicles use 60-90 percent less energy than internal combustion engines, while heat pumps cut heating energy consumption by 50-80 percent. These efficiencies are critical as global electricity consumption is expected to climb by 50 to over 100 percent by 2050.
Timeline
2021: EU renewable electricity generation reached 38 percent.
2025: EU renewable electricity generation reached 48 percent.
2035: Renewables are expected to become the dominant global electricity source.
2050: Target year for projected global electricity consumption and emissions goals.
Roadmap
This transition marks a departure from legacy fossil fuel dependence, positioning electrification as the primary driver for industrial growth. Automakers and energy firms are shifting strategies to align with a grid where renewables provide the dominant share of power.
Drivers can expect increased availability of cleaner charging options as grids integrate more renewable capacity. Over time, these shifts aim to stabilize energy costs and support the long-term affordability of electric vehicle ownership.
The takeaway
The move toward renewable power is essential for maintaining energy security in an era of rising demand. Implementing energy-efficient technologies like heat pumps and electric vehicles helps consumers reduce their personal energy consumption while supporting a broader transition.
Further reading
Learn more about the evolution of energy infrastructure in our Electric Vehicles section.
Live Poll
Is the transition to renewable energy currently improving your nation's long-term industrial competitiveness?
