@article{LudererMadedduMerfortetal.2021,
  author    = {Luderer, Gunnar and Madeddu, Silvia and Merfort, Leon and Ueckerdt, Falko and Pehl, Michaja and Pietzcker, Robert C. and Rottoli, Marianna and Schreyer, Felix and Bauer, Nico and Baumstark, Lavinia and Bertram, Christoph and Dirnaichner, Alois and Humpen{\"o}der, Florian and Levesque, Antoine and Popp, Alexander and Rodrigues, Renato and Strefler, Jessica and Kriegler, Elmar},
  title     = {Impact of declining renewable energy costs on electrification in low-emission scenarios},
  series = {Nature energy},
  volume    = {7},
  journal   = {Nature energy},
  number    = {1},
  publisher = {Nature Publishing Group},
  address   = {London},
  issn      = {2058-7546},
  doi       = {10.1038/s41560-021-00937-z},
  pages     = {32 -- 42},
  year      = {2021},
  abstract  = {Cost degression in photovoltaics, wind-power and battery storage has been faster than previously anticipated. In the future, climate policy to limit global warming to 1.5-2 °C will make carbon-based fuels increasingly scarce and expensive. Here we show that further progress in solar- and wind-power technology along with carbon pricing to reach the Paris Climate targets could make electricity cheaper than carbon-based fuels. In combination with demand-side innovation, for instance in e-mobility and heat pumps, this is likely to induce a fundamental transformation of energy systems towards a dominance of electricity-based end uses. In a 1.5 °C scenario with limited availability of bioenergy and carbon dioxide removal, electricity could account for 66\% of final energy by mid-century, three times the current levels and substantially higher than in previous climate policy scenarios assessed by the Intergovernmental Panel on Climate Change. The lower production of bioenergy in our high-electrification scenarios markedly reduces energy-related land and water requirements.},
  language  = {en}
}