The International Energy Agency (IEA) has published informed World Energy Outlook 2024 who warns that for the regional conflicts fits urgently deploy more renewable energy capacity to avoid dependence on fossil fuel fluctuations. More than half of the electricity produced in the world will be sourced renewable by the end of this decade.
The International Energy Agency (IEA) has warned that regional conflicts and Geopolitical tensions reveal the ‘fragilities’ of the global energy systemmaking the need even more urgent accelerate the transition direction “cleaner and safer” energies.
According to the report World energy prospects 2024las geopolitical tensions are generating “major risks” for both energy security as for the reducing greenhouse gas emissions worldwide.
However, the International Energy Agency (IEA) It also presents an encouraging scenario: «The world is ready to enter a new energy market The coming years will be characterized by persistent geopolitical risks, but also by a relatively abundant supply of fuels and technologies.
In the second half of the 2020s, the agency provides a surplus of oil and liquefied natural gasas well as the increase in production capacity of some key technologies in the energy transitionespecially in the photovoltaic solar energy and batteries.
According to the director of the International Energy Agency (IEA)Fatih Birol, the price drop what will it mean The surplus of fossil fuels will allow governments to eliminate their subsidies and “focus on increasing investments in renewable energy”.
«Low emission sources will generate more than half of the world’s electricity by 2030“said the report International Energy Agency (IEA).
The era of renewable sources
Electricity consumption has grown twice as fast as total energy demand over the past decade and is expected to continue to rise rapidly in the coming years, according to the International Energy Agency (IEA)which points to this The world is entering ‘the age of electricity’.
“As we enter the age of electricity, solar energy and batteries took the cake. The International Energy Agency (IEA) “It now expects 24% and 54% more respectively in 2030 than this time last year,” says the program’s director. Global Insights from think tank EmberDave Jones.
In that sense, The report recalls that the world added 560 gigawatts (GW) of installed renewable capacity in 2023, reaching 4,250 GW, and at current growth rates the total will reach almost 10,000 GW by 2030..
In the case of oilthat is expected Global demand will fall by six million barrels per day by 2030 just for the gradual implementation of electric vehicles (EV)which will already be 50% of the total sold that year, compared to the current 20%.
But for the renewable energy continues to grow “at the right pace”, the International Energy Agency (IEA) remember that “Much larger investments are needed in new energy systems, especially in electricity networks and energy storage”. “Today, for every dollar spent on renewable energy, 60 cents is spent on grids and storage”sorry.
Many electrical systems are also vulnerable to the increase in extreme weather events, “making it essential to make efforts to strengthen their resilience and digital security.”
The Middle East and Africa are at the end of renewable energy sources
The report also warns about this Renewable energy growth remains heavily concentrated in Chinaespecially, and in the most developed countries. For example, Installed photovoltaic capacity in China will exceed total US electricity demand by the early 2030s.
However, Renewable energy sources are still being deployed much more slowly in South and East Asia, the Middle East and Africathe regions where the increase in energy demand will be most concentrated until 2030.
Although the renewable energies will be able to meet the expected increase in electricity demand on their own, the document emphasizes that data centers and the greater use of air conditioning due to more frequent heat waves 1,200 terawatt hours (TWh) of global demand in 2035 alone in new cooling needs.
The International Energy Agency (IEA) also emphasizes the short-term political ‘uncertainty’as the countries with half of the world’s energy demand went or will go to the polls this year, both for national and regional elections, elections in which energy and climate play an important role.
However, the agency does not explicitly mention the US presidential election, in which the Republican candidate Donald Trump has threatened to once again withdraw his country from the Paris climate agreements and end the Biden administration’s current policies on emissions cuts and promotion of renewable energy sources..