The world has embarked on its third energy transition: a relatively rapid shift in favour of low-carbon energy. Electricity needs to take market share from all other forms of energy, as we electrify transportation and heating. As the world electrifies, solar and wind are set to become the dominant and far more economical power sources, growing from 0.2 per cent of the world's power generation mix in 2000 to 7 per cent in 2017, and this could grow to 80 per cent by 2050. Electric vehicles will dominate new car sales by the same time. Investment is required across all the related value chain.