Solar to dominate energy by 2035, but AI data centers will keep fossil fuels in business

The missing piece in this report was the Iran War, which started when BloombergNEF was too far along in the process to make any major changes. The team did test the effects of two scenarios on various countries’ dependence on energy imports. 

Under the economic transition scenario, in which decarbonization is driven largely by dollars and cents rather than regulations, every country would reduce its reliance on foreign energy, including oil powerhouse Saudi Arabia. Under a net-zero scenario, which sees regulations driving deeper decarbonization, every country would be able to virtually eliminate its reliance on energy imports.

“The transition, which in many ways is cost efficient, is actually good for energy independence,” Kimmel said.