IEA

Photo: Tesla Without EVs, solar, wind, and nuclear, the global rise in emissions in the last five years would have been three times larger, new International Energy Agency (IEA) analysis shows. The new findings come from the IEA’s annual update on global energy-related CO2 emissions and the just-released inaugural edition of the IEA’s new series, the Clean Energy Market Monitor, which will track clean energy deployment and broadly outline the implications for global energy markets.…

The oil and gas industry is banking on carbon capture as its “fix” for climate change. The IEA’s new report dispels that idea and offers real solutions. The oil and gas sector currently accounts for just 1% of clean energy investment globally. A special report from the International Energy Agency (IEA) released ahead of the COP28 climate summit explores how the fossil fuel industry “can take a more responsible approach and contribute positively to the new energy economy.” In other words, the…

Last Updated: April 27, 2023, 09:36 ISTElectric Vehicles Set to Account for One-Fifth of Global Sales in 2023. (Photo: IANS)The rise of electric vehicles is driven by concerns over the environment, the boost of industrial policy, and a decrease in dependency on oilAccording to the International Energy Agency’s (IEA) annual outlook on electric vehicles (EVs), nearly one in five cars sold globally this year will be electric. The IEA predicts that the prices of smaller EV models will drop to rival those of combustion engine…

Electric vehicles from Tesla photographed in China. The world's second largest economy is a major player when it comes to the sale of electric vehicles.Vcg | Visual China Group | Getty ImagesElectric car sales jumped to more than 10 million last year, with China accounting for roughly 60% of the market, according to a report from the International Energy Agency published Wednesday.The record sales figures, contained within the IEA's Global EV Outlook for 2023, continue a trend of sustained growth for the…

The oil market will fall into a far larger oil deficit sooner than expected following surprise production cuts from some of OPEC’s leading members, the International Energy Agency said Friday.  The gaping hole in the global oil market between the availability of crude and rebounding demand will reach 2 million barrels a day by the third quarter of the year, the Paris-based energy watchdog said in a closely followed monthly report.  The oil market will fall into a far larger oil deficit…

China’s rapid shift to reopen its economy following lengthy Covid-19 lockdowns should help oil demand rise to a record level this year, the International Energy Agency said. The energy watchdog lifted its forecast for oil demand growth this year by nearly 200,000 barrels a day to 1.9 million barrels a day. The extra demand means that the IEA now expects total oil demand this year to average 101.7 million barrels a day, well above pre-Covid levels and a record amount. …

Wind turbine blades photographed at a facility in China's Hebei Province on July 15, 2022. The world's second largest economy is a major force in technologies crucial to the planned energy transition.VCG | Visual China Group | Getty ImagesThe world is moving into "a new age of clean technology manufacturing" that could be worth hundreds of billions of dollars per year by the end of the decade, generating millions of jobs in the process, according to a new report from the International Energy Agency.Published Thursday…

Workers photographed on top of a train loaded with coal in China. Global use of coal is projected to increase by 1.2% this year and hit a record high, according to the International Energy Agency.VCG | Visual China Group | Getty ImagesGlobal coal use is on course to increase by 1.2% to hit a record high this year, according to a report from the International Energy Agency.It comes at a time of significant volatility and uncertainty in global energy markets, with the IEA stating that Russia's invasion of Ukraine in Feb.…

International Energy Agency top official Fatih Birol warns EU is not yet out of the danger zone in 2023 despite progress in reducing reliance on Russian natural gas. IEA Executive Director Fatih Birol launched the report on Monday at a news conference with European Commission President Ursula von der Leyen in…

Wind turbines in the Netherlands. A report from the International Energy Agency "expects renewables to become the primary energy source for electricity generation globally in the next three years, overtaking coal."Mischa Keijser | Image Source | Getty ImagesRenewables are on course to overtake coal and become the planet's biggest source of electricity generation by the middle of this decade, according to the International Energy Agency.The IEA's Renewables 2022 report, published Tuesday, predicts a major shift within the…