IEA predicts the arrival of the ‘Age of Electricity’

The agency stresses that clean energy is entering the energy system “at an unprecedented rate.”

In the coming years, the world is about to enter a new energy market context, which the International Energy Agency (IEA) calls the “Age of Electricity”, marked by a relatively abundant supply of multiple fuels and technologies, including a glut of fossil fuels, together with an increase in the manufacturing capacity of clean energy technologies. which will result in price drops. In its annual ‘World Energy Outlook 2024’ report, the agency attached to the Organisation for Economic Co-operation and Development (OECD) projects that, based on current policies, low-emission sources will generate more than half of the world’s electricity by 2030, while demand for coal, oil and gas will peak by the end of the decade. In this sense, he highlights that clean energy is entering the energy system “at an unprecedented rate”, although he recognizes that its implementation is far from uniform in all technologies and markets.

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