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开奖号码历史查询:"greener" technologies could reshape how the world powers everything, from factories to vehicles and household heating sys✨tems, said the latest edition of IEA's Wor༒ld Energy Outlook (WEO).

This is in stark contrast to projections by the Organization of the Petroleu♕m Exporting Countries (OPEC), which recently 澳洲幸运5💝开奖号码历史查询:raised its world oil demand forecasts. The cartel said it p꧑redicts that $14 trillion of investments will be needed💎 by 2045 to meet the rise in world oil demand in the medium and long term.

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开奖号码历史查询:liquefied natural gas (LNG) projects, mostly in the U.S. and Qatar, could also create a supply glut🀅, easing price pressures.

The IEA noted that solar and 澳洲幸运5开奖号码历史查询: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.