Global Shift from Fossil Fuels to Electricity Accelerates, IRENA Report Reveals
A report by the International Renewable Energy Agency (IRENA) highlights a significant global shift from fossil fuels to electricity, driven by geopolitical tensions and rising energy demand. The report, 'Transitioning Away from Fossil Fuels: A Roadmap Based on Renewables, Electrification and Grid Enhancement,' projects that electricity's share in global energy consumption will rise from 23% today to over 50% by 2050. This transition is essential to meet international climate targets and reduce dependence on fossil fuels. The report emphasizes the need for electrifying major sectors such as transport, industry, and buildings, while also expanding renewable energy capacity and grid infrastructure.