The International Energy Agency (IEA) released its World Energy Outlook 2023 (IEA report)
Quick summary:
- Just based on current policy settings, by 2030 clean technologies play a significantly greater role.
- This includes almost 10 times as many electric cars on the road worldwide;
- Solar PV generating more electricity than the entire US power system does currently;
- Renewables’ share of the global electricity mix nearing 50%, up from around 30% today;
- Heat pumps and other electric heating systems outselling fossil fuel boilers globally;
- Three times as much investment going into new offshore wind projects than into new coal- and gas-fired power plants.
But stronger measures would still be needed to keep alive the goal of limiting global warming to 1.5 °C.
The report projects the share of fossil fuels in global energy supply, declines from around 80% to 73% by 2030, with global energy-related carbon dioxide (CO2) emissions peaking by 2025.
Without an acceleration in action, Global emissions would still push up global average temperatures by around 2.4 °C this century, well above the key threshold set out in the Paris Agreement.
