The old definition of energy is now obsolete, Cohen & Steers posits in a recent report titled Changing the imperative from “energy transition” to “energy addition.”
Although the renewable-energy market share is set to double from 17 percent in 2022 to 35 percent in 2040, the investment management company believes traditional energy will not be replaced. On the contrary, it will have a meaningful role to play alongside alternative energy sources in meeting global energy demand.
Renewable-energy sources such as solar and wind cannot meet the world’s increasing energy needs alone, according to Cohen & Steers. Even with the rollout of policies designed to boost adoption of renewable sources, the firm believes traditional energy sources will continue to dominate market share throughout the next 20 years, given the benefits of in-place infrastructure and reliability of these assets.
Cohen & Steers forecasts the collaboration of traditio