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Starace: Bloomberg New Energy Outlook

Franceso Starace at the presentation of the Bloomberg New Energy Outlook (NEO)

The Enel Auditorium in Rome hosted the presentation of Bloomberg NEF's New Energy Outlook 2019 (NEO) on July 10th. Enel CEO’s, Francesco Starace, opened proceedings. The report highlights how in 2050 half of the world’s energy and 92% of that in Europe will be produced by wind or solar power (the current figure is 7%). This represents exponential growth and it goes hand in hand with a major reduction in the production of electricity from coal (from 37% to 12%). But that’s not enough. According to the report, “Major advances in decarbonisation in other segments of the world economy will be necessary in order to combat climate change.”

The electric car exists, it is a reality, and we have seen its benefits in economic terms

Francesco Starace, Enel CEO

In an interview with Affari Italiani, Starace underlined how the outlook confirms that "What until recently was just a vision, as of today is something that is tangible as well as feasible.” Energy from renewable sources not only creates benefits for the environment, but also for the economy. It’s therefore necessary to "focus on new technologies," as Enel has been doing for a number of years. Besides, the numbers show that "this path is good both for the company and for the planet.”

In the interview the Enel CEO also focused on electric mobility, which was the subject of an ad hoc study “The Electric Vehicle Outlook 2019,” which integrates the BNEF report. As Starace says "The electric car exists, it's a reality.” According to the study’s forecasts, the number of electric vehicles in circulation will exceed 500 million by 2050 (currently there are more than 5 million). Around 2025 the price of full electric cars will be in line with that of traditional vehicles, while in 2040 57% of new vehicles will be electric. Moreover, the public recharging infrastructure grew by 20% over the course of 2018: China is the leader (304 thousand charging points) followed by Europe (190 thousand), while the USA is still at 61 thousand. These numbers are expected to grow further over the coming years.

In conclusion, Francesco Starace talked about the energy transition: "It will happen quickly and we believe that this is a step forward to a cleaner world, with a lower environmental impact, which will be open to all.”



Enel editorial staff