Technology can deliver a Paris compliant future...
In recent years, we have seen encouraging technology improvements, cost declines and market implementations in many easy-to-abate sectors. Cost reductions in solar PV have surprised many forecasters, and we expect costs to continue to decline. Battery costs have also been plunging dramatically, increasing the competitiveness of passenger EVs and spurring further rapid scaling of EV manufacturing.
We recently investigated Europe's lower emissions scenarios and found that zero emissions in Europe is possible and affordable — if the current fraction of GDP devoted to energy expenditures is maintained. Paris compliant scenarios require significant technology scaleups that must be weighed against 'real world' settings.
The physical and market designs of power systems will change rapidly, including a considerable buildout of the grid to cater for an ever-higher renewables share. The roll out of charging infrastructure and economic incentives for EV owners for a few more years will accelerate further scaling and electrification.