The IEA’s new World Energy Outlook said that based on today’s policies, peak global demand for coal, oil and gas are all “visible” this decade.
It attributed this to “growing momentum” for non-fossil energy technology and “structural economic shifts” around the world.
The report also said that it expects renewables to make up nearly 50 percent of global electricity in 2030, up from about 30 percent today. And it projected that there will be almost 10 times as many electric cars on the road than there are today.
“The transition to clean energy is happening worldwide and it’s unstoppable. It’s not a question of ‘if’, it’s just a matter of ‘how soon’ – and the sooner the better for all of us,” IEA Executive Director Fatih Birol said in a statement.
However, the report also said that more climate action is necessary to prevent 1.5 degrees Celsius (2.7 degrees Fahrenheit) of warming — a level scientists have said is necessary to evade the worst impacts of climate change.
Read more in a full report from our colleague Lauren Sforza at TheHill.com.