The world is indeed in an energy shift. “With nuclear energy, which is the subject of renewed interest in many countries, low-emission sources”, such as wind and solar(New window), “are expected to produce more than half of the world’s electricity by 2030”, the International Energy Agency (IEA) stated on Wednesday, October 16 in its annual report.
“We have experienced the age of coal and the age of oil, and we are now rapidly entering the age of electricity, which will define the global energy system in the future and will increasingly be based on clean electricity sources,” said IEA Executive Director Fatih Birol, quoted in the press release. The OECD energy agency describes a thirst for electricity driven by industry, electric mobility, the needs of artificial intelligence and the 11,000 data centers around the world, as well as air conditioning.
International Energy Agency (IEA)
While “the growing momentum for clean energy transitions” is there, “the world is still far from a trajectory aligned with its carbon neutrality objectives” by 2050, the IEA nevertheless underlines, calling for an acceleration. “A record level of clean energy has been installed globally by 2023, but two-thirds of the increase in energy demand has still been met by fossil fuels,” the agency notes. In its report, the IEA maintains its forecast of a peak in demand for all fossil fuels (oil, gas and coal) “by the end of the decade”, forecasts that run counter to those of the oil and gas industry and the Organization of the Petroleum Exporting Countries (OPEC).