Report states China heading ‘Age of Electricity’

(MENAFN) The global energy landscape is undergoing a transformative shift, entering what the International Energy Agency (IEA) refers to as a new "age of electricity," with China emerging as the leading force. According to the IEA's latest annual World Energy Outlook, fossil fuel demand is projected to peak by the end of the decade, signaling a significant transition toward cleaner energy sources.

The report highlights the rapid advancement in clean energy generation, propelled by an unprecedented increase in the production of batteries and solar panels. This surge is largely driven by sectors such as electric vehicles, data centers, and broader industry applications. Notably, China is anticipated to account for nearly 60 percent of all renewable energy capacity installed globally by 2030. Despite being one of the world’s largest consumers of oil, China's commitment to expanding its renewable energy infrastructure is noteworthy. The IEA predicts that the country’s solar generation capacity alone will soon surpass the total electricity demand of the United States.

The ongoing conflicts in Ukraine and the Middle East have further underscored the vulnerabilities of the global energy system, emphasizing the urgent need for increased investment in cleaner and more secure technologies. IEA Executive Director Fatih Birol articulated this transition, stating, "In energy history, we’ve witnessed the Age of Coal and the Age of Oil. We’re now moving at speed into the Age of Electricity, which will define the global energy system going forward and increasingly be based on clean sources of electricity."

The report reveals that last year saw a record addition of clean energy worldwide, with over 560 gigawatts (GW) of renewable power capacity coming online. Investment in clean energy projects is reaching nearly USD2 trillion annually—almost double the amount allocated to fossil fuels. This trend reflects a growing recognition of the importance of sustainable energy sources in addressing climate change and ensuring energy security.

As the world transitions to this new age, the role of nations, particularly China, in shaping the future of global energy will be critical. The shift towards electricity as the dominant energy source is not just a technological change; it signifies a broader commitment to sustainable practices that will influence economies and societies for generations to come.

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