Per a PwC report, over 190 countries have committed to achieve the objectives of the Paris Agreement of 2015, which set a massive reduction of carbon emissions until reaching neutrality in terms of energy. These ambitions are sustained through subsidies, incentives, investments and carbon pricing systems.
Estimates of the International Renewable Energy Agency show that, in order to build a system to generate electricity from renewable resources until 2050, investments of $13 trillion are needed globally to consolidate electricity transmission and distribution networks alone.
Even though on the short and medium term, petroleum, coal and natural gas will continue to represent large percentage of the raw material used to produce electricity and heat, the energy transition is in progress.