Renewable energy is growing faster than fossil fuels, report says

The International Energy Agency published its annual report on Wednesday. He noted that renewable energy, especially solar power, is developing much faster than fossil energy such as oil, gas and coal.

As COP30 was held in Belém, Brazil, the International Energy Agency (IEA) on Wednesday 12 November published its annual report on the global energy outlook, World Energy Outlook 2025. According to the agency, renewable energy, driven by solar photovoltaics, is experiencing increasing demand. “faster than any other major energy source, in all scenarios”.

Global oil demand is expected to stop increasing, the IEA said “around 2030”while coal will reach its peak. On the other hand, natural gas will continue to grow slightly higher, around 10% compared to current levels, especially due to American policies that favor fossil fuels, since Donald Trump’s return to power. So far, China is still the leading producer and consumer of renewable energy.

The IEA highlights that 2024 is the hottest year on record. The report presents three scenarios regarding the world’s energy future: one based on countries’ current policies, another covering the steps that must be taken if the world is to achieve carbon neutrality by 2050, and a middle scenario that includes the steps that countries have already announced.

If we continue with the current policy, namely the most conservative scenario, the earth will be on course for warming of close to 3°C by 2100. If we implement all the promises that have been announced, namely the median scenario, warming will be slightly more stable, but still above 1.5°C. Only a “carbon neutrality” scenario by 2050 makes it possible, in the long term, to return below the 1.5°C threshold, the IEA stressed.

This report raises two major problems. Around 730 million people worldwide still do not have access to electricity and the world is far from achieving climate goals. The world is “under the goal” which he determined himself “universal access to energy” and from “climate change”said the Agency’s Director, Fatih Birol, in a press release.