Welcome to DNV’s inaugural Energy Transition Outlook. As a company, we are highly exposed to the radical changes affecting every part of the energy value chain, and it is critical that we understand the nature and pace of these changes. To the extent that this study does advance understanding, we are proud to offer it as a service to all stakeholders in the transition, present and future.
We forecast that by mid-century, primary energy supply will be split roughly equally between fossil and renewable sources. That presupposes a very substantial growth path for renewable energy, but not enough, we calculate, to bring humanity on track to reduce climate emissions in line with the climate goal agreed in Paris in 2015. That should be a wake-up call to all stakeholders in the energy system. The industry that we know and serve has taken bold steps in the past; even bigger strides are required into the future. I hope our 2017 report makes for stimulating reading and provides food for thought — and action.