The shift toward low carbon energy sources will take time and require a major change in the electricity industry, a new study says.
The study by IHS CERA and the World Economic Forum looks at the challenges of the shift to renewables and other energy sources, as the world attempts to actively push an energy transition for the first time. It was presented Tuesday at the IHS CERAWeek in Houston.
Significant changes by the industry would be necessary to make the shift, the study said.
Wind, solar and biomass have less energy density than other sources and are more geographically dispersed. That would require a system based more on local production, requiring significant investments in transmission to get the power where it is needed.
Another challenge for the power industry is the variability of wind and solar power. Generators would have to compensate for these sources and have backups.
(Read More: Oil Supplies Are Key Topic at Annual CERA Week)