Energy Transition – Last IEA report

When it comes to supporting the implementation of sustainable energy policies, IEA is among the most important agencies out there. The acronym stands for the International Energy Agency and it was first used in 1974. Some of the crucial tasks of this organization are securing the access to energy supplies for all the member countries, supporting their collaboration and finding solutions to all the existing energy challenges. The agency also makes a yearly report in which it summarizes all its findings and proposed solutions. Here’s what they’ve concluded in the one that was published in 2017.

The last IEA report focused on global temperature rise. Its purpose was to find a way to limit it to 2°C. The proposed solution involves a series of steps that would result in an energy transition of a greater scope. First, the member countries will have to switch to low-carbon electricity. Nowadays only a third of our electricity is of that type, and we would have to bring it to a whopping 95%. Second, out of 10 cars we buy, seven of them will have to be electric. The numbers we have today are a bit discouraging – for each electric car we buy, a total of 100 regular cars are bought. Third, the industrial sector will need to reduce its CO2 intensity by 80%.  Fourth, the amount of fossil fuels we spend will need to be halved, which will make it account for less than half of our total energy demand. And fifth, until the year 2050, we will need to invest $3.5 trillion per year in improving the energy sector. That’s around twice as much as we are currently investing.

If all this seems ambitious to you, that’s because it is. After all, we’re talking about transforming the energy sector into something we could sustain for decades to come. To implement each and every one of these policies, an extensive global collaboration will be required, as will huge investments. On the bright side, supporting such measures is one of the most important missions of the International Energy

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