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World Energy Outlook 2023
October 31 , 2023
390 days
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- The International Energy Agency (IEA) released its World Energy Outlook 2023 report.
- Global coal consumption is projected to decline by 13.5% by 2030, but natural gas and oil consumption are both projected to rise.
- Even though global energy demand is set to grow by 7% to 2030 under the Stated Policies Scenario, demand will shift towards renewables and nuclear.
- However, fossil fuels will still account for over 70% of supply (down from ~82% in 2022).
- Electricity emerges as the "fuel" of the future, with its share of final consumption rising from 20% in 2020 to 28% in 2030.
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