Fossil fuel use could be completely eliminated by 2090, if appropriate investments are made, according to the European Renewable Energy Council.
In a report published with Greenpeace, the council claimed that the expense of changing the world's economy so it did not rely on fossil fuels would be costly, but worthwhile.
The report claims that $14.7 trillion would have to be spent by 2030 to achieve the goal of a fossil-fuel free economy.
"Renewable energy could provide all global energy needs by 2090," claimed the report.
It highlighted various mechanisms governments could adopt to ensure the changes came about such as ending subsidies to fossil fuel and nuclear projects as well as establishing cap and trade markets for carbon dioxide emissions.
Meanwhile, an environmental expert at US jet manufacturer Boeing told the Guardian that biofuel for use in aircraft could be approved "much sooner than anybody thought".
He told the newspaper: "We are thinking that within three to five years we are going to see approval for commercial use of biofuels - and possibly sooner."
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