IEA Forecasts Global Emissions and Energy Demand to Peak by 2030

The International Energy Agency (IEA) predicts that global emissions will peak by 2025, as clean energy, particularly solar and electric vehicles (EVs), transform the global energy system by 2030. The IEA projects that by 2030, solar will generate more electricity than the entire US power system, renewables will account for nearly 50% of the global electricity mix, and three times more investment will go into offshore wind projects than into coal- and gas-fired power plants. The IEA also expects heat pumps and electric heating systems to outsell fossil fuel boilers globally. The report signals a major upgrade to the outlook for renewables, with the share of fossil fuels in global energy supply declining to 73% by 2030 and global energy-related CO2 emissions peaking by 2025. However, stronger measures are still needed to limit global warming to 1.5C.