The bulk of the world's demand for energy could be met through renewable sources by 2050, according to the Energy Report, produced through a collaboration between WWF and Ecofys.
The report says that the share of oil, coal, gas and nuclear power in the global energy mix could be brought down to 5% over the next four decades.
Proper energy saving measures can bring down total energy requirements by 15% from 2005 levels.
To achieve this, investments worth $4.8tn need to be made by 2035 on modernising electricity grids and setting up more wind farms and solar parks.
Other recommendations are to encourage the use of public transport, reduce wastage of food, develop durable or recycled materials and develop action plans to promote the use of renewable energy.