Goldman Sachs recently released a report highlighting the significant role of power generation in the push towards decarbonisation. With global demand projected to soar in the coming years, power generation is expected to play an even bigger role in reducing carbon emissions. The report indicates that power generation currently contributes 35% of global carbon emissions, making it a key focus area for decarbonisation efforts. Renewables, with their mature technologies and decreasing costs, are identified as dominating the low-cost end of the carbon abatement spectrum. The analysis forecasts a substantial increase in renewable power capacity by 2030, with a particular emphasis on utility-scale batteries and hydrogen as key supporting technologies. Goldman Sachs anticipates utility-scale batteries for energy storage to reach approximately 3,000 GW by 2050, underlining the importance of energy storage solutions in the transition to a low-carbon future. Furthermore, hydrogen is highlighted as a potential solution to address the seasonal mismatch between power demand and renewable energy output, showcasing its versatility in the decarbonisation journey. Overall, the report underscores the pivotal role of power generation and the rapid electrification trends across sectors in achieving global decarbonisation goals.