Global Energy Transformation Accelerates: IEA Foresees Clean Energy Dominance by 2030
In its latest report, the International Energy Agency (IEA) has unveiled a profound shift in the global energy landscape, with far-reaching implications for the next decade.
October 25, 2023. By News Bureau
By 2030, if nations adhere to their energy and climate commitments, the world may witness a tenfold increase in electric cars on the roads, solar photovoltaic (PV) energy surpassing the United States' entire power output, and renewable energy accounting for almost half of the global electricity production, up from 30 percent today.
Additionally, electric heating systems, particularly heat pumps, are projected to outpace fossil fuel boilers in sales.
This transition towards clean energy is inevitable, according to Dr. Fatih Birol, the IEA's Executive Director, who underscored the urgent need for governments, businesses, and investors to support this shift.
Furthermore, the report predicts a decline in global demand for coal, oil, and natural gas by 2030, marking the first time such a scenario has been constructed based on existing policies.
Nonetheless, even with these advancements, the IEA warns that global temperatures could still exceed the 1.5°C limit set in the Paris Agreement if more stringent measures aren't adopted.
To meet climate targets, the report suggests strategies like expanding renewable capacity, enhancing energy efficiency, reducing methane emissions, and phasing out fossil fuels.
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