Demand For Fossil Fuels And Accelerating Shift To Renewables - Exploring Connection

 

The annual World Energy Outlook study from the International Energy Agency, which was released on Tuesday, predicts that demand for coal, natural gas, and oil — along with the alarming carbon pollution they produce — will reach a peak later this decade.

According to the Paris-based agency, the extraordinary growth of clean energy sources will be what propels the transformation. It highlighted the potential for there to be roughly ten times as many electric cars on the road globally by the end of the decade.

The IEA also predicted that by 2050, renewables will make up about 50% of the world’s energy mix, an increase from the present 30%. “It’s not a question of ‘if,’ it’s just a matter of how soon,” said Fatih Birol, its executive director, in reference to the “unstoppable” energy transformation.

The need for fossil fuels will decrease as the second-largest economy in the world experiences slower growth. The peak of China’s total energy demand is anticipated to occur around the middle of this decade. A “clean energy powerhouse,” the nation will account for more than 50% of EV sales globally in 2022.

“Global emissions would remain high enough to push up global average temperatures by around 2.4 degrees Celsius this century,” the IEA warned, despite the quickening switch to renewable sources and long-lasting changes to consumer habits in nations like China.

The organization warned that more must be done if global warming is to be kept below 1.5 degrees Celsius, beyond which scientists predict that severe heat waves, floods, wildfires, and food and water shortages will have far more disastrous effects on human life.