The world is set to experience a massive expansion in the role of electricity, according to a major new forecast released today. But despite a coming surge in the use of batteries and renewables the expected pace of change across the energy industry is still not sufficient to meet global climate targets.

The new forecast, the second in an annual series from Norwegian risk management giant DNV GL, predicts electricity’s share of global energy demand will almost double to 45 per cent by 2050, driven by a sharp rise in electric car ownership around the world.

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