Fig. 3

Power and storage capacities, power generation and storage throughput from 2015 to 2050. During the first steps of the transition most of new installed capacities are represented by wind turbines, as the least cost source of electricity during this time in most regions. Later with cost decline of PV and battery storage technologies, and utilization of most efficient wind generation sites, the share of PV in new installed capacities becomes dominant. Some wind turbine capacities are reinstalled in the later periods of the transition to substitute decommissioned old turbines. Overall growth of cumulated installed capacities is initiated by both growth of the power demand and the generally lower FLh of RE sources. Substantial growth of storage technologies capacities starts after 2030, when the VRE generation share exceeds 50% in most of the regions. PV photovoltaics, RE renewable energy