00:00A new report has found that wind and solar-led energy systems can deliver electricity at similar or lower cost than today's fossil fuel-based systems.
00:10According to the Energy Transitions Commission, electricity is predicted to provide up to 70% of global energy consumption in a decarbonized energy system.
00:20Today, it only accounts for 20%.
00:23Total global electricity demand could triple by 2050.
00:27This demand could be reached by new generation wind and solar power.
00:33The report also shows that China could achieve fully renewable power systems, a total cost of $47 per megawatt hour by 2050, well below today's average wholesale prices.
00:46Lord Adair Turner is the chair of the Energy Transitions Commission and joins us now.
00:51Lord Adair, thank you so much for your time.
00:53Donald Trump said this week in Scotland that wind-powered energy was the most expensive.
01:00Has he got it completely wrong?
01:02Yes, he's got it completely and utterly wrong.
01:05And indeed, China is the clearest indication of how wrong that is.
01:09You're seeing dramatic reductions in the cost of wind turbines in China and very significant deployment of very cheap wind power installations, wind farms.
01:23And across many parts of the world where there is good wind, of course, it depends on the wind resource,
01:28onshore wind is one of the cheapest ways to produce electricity, along with solar, which in sunny parts of the world is even cheaper.
