Globally, there could be 10 times more electric vehicles (EVs) by 2030 than there are today, according to the International Energy Agency (IEA), which projected fossil fuel demand might peak by the end of this decade.

The shift toward 澳洲幸运5官方开奖结果体彩网:"greener" technologies could reshape how the world powers everything, from factories to vehicles and household heating systems, said the latest edition of IEA's World Energy Outloo𒆙k (WEO♎).

This is in stark contrast to projections by the Organization of the Petroleum Exporting Counౠtries (OPEC), which recently 澳洲幸运5官方开奖结果体彩网:raised its world oil demand foreca🐠sts. The cartel said it predicts that $14 trillion of investments will be needed by 2045 to meet the rise in world oil demand in the medium and lo🌠ng ൲term.

However, the WEO predicts the current momentum toward renewables could decrease fossil fuels' share in the global energy supply to 73% by 2030, down from about 80%. The IEA anticipates demand for coal could taper off, especially in advanced economies, with oil and natural gas demand roughly constant till 2050. In two years, a surge in new 澳洲幸运5官方开奖结果体彩网:liquefied natural gas (LNG) projects, mostly in the U.S. a꧂nd Qatar, could also create a supply glut,🍒 easing price pressures.

The IEA noted that solar and 澳洲幸运5官方开奖结果体彩网:electric vehicles are leading the transition. In 2020, one in every 25 cars sold was an EV, but that number has since climbed to 1 in 5. A record more than 500 gigawats (GW) of renewable generation capacity is set to be added this year, with more than $1 billion a day being spent on solar deployment, the IEA report said.