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The International Energy Agency (IEA) has published this year s World Energy Outlook, revealing that the world is seeing the second-largest year-on-year increase in CO2 emissions on record post-pandemic.
London The world needs no new oil and gas developments and global oil demand would collapse by 75% under an energy scenario needed to put the world on a path to net-zero emissions by 2050, the International Energy Agency said May 18.
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Outlining its first roadmap for how the global energy sector can achieve net-zero emissions, the IEA said immediate and massive deployment of all available clean and efficient energy technologies would be needed to upend the dominance of fossil fuels in the energy mix over the coming decades. Our pathway requires vast amounts of investment, innovation, skillful policy design, and implementation, technology deployment, infrastructure building, international cooperation and efforts across many other areas, the IEA said.
Here comes the Sun King
April 14, 2021 Email
Having jostled for the title for some time, the International Energy Agency made headlines late last year when it crowned solar PV as the new “king of electricity markets” worldwide, ahead of wind, hydropower and all other generation technologies. Citing drastic reductions in price over the last decade in particular, the IEA – which is reasonably famed for having underestimated solar PV’s potential in the past – projected that solar would smash deployment records in each year from 2022 onwards, becoming the preeminent source of power in Europe by 2025.
That projection came within the IEA’s World Energy Outlook report for 2020, wherein all of the association’s models projected that renewables would grow rapidly over the coming decade. Solar, however, was said to be at the centre of that growth, a mixture of maturing technologies and supportive policies opening up ultra-cheap access to capital and, in tur