Unit Billion dollars % of GDP Coal phase out scenario Net Zero 2050 (NGFS global scenario) Halt to coal production Coal replacement 100% solar, 0% wind 56% solar, 44% wind (42% onshore, 2% offshore) 50% solar, 50% wind (25% onshore, 25% offshore) 0% solar, 100% wind (100% onshore, 0% offshore) 0% solar, 100% wind (0% onshore, 100% offshore) Lifetime of renewable plants 30 years 50 years Investment costs fall - learning curve Learning (investment cost drop because of learning) No learning (no investment cost drop) World Developed Countries Developing Countries Emerging Market Countries Asia Africa North America Latin America & the Carribean Europe Australia & New Zealand