RENEWABLE ENERGY
Countless reports are produced every year , making it difficult for people and businesses to filter out the dross and mine the gold .
One report that is an essential part of annual reading lists is the IEA ’ s flagship World Energy Outlook .
It is regarded by many as the most authoritative global source of energy analysis and projections .
The IEA says : “ The report identifies and explores the biggest trends in energy demand and supply , as well as what they mean for energy security , emissions and economic development .”
This year ’ s Outlook comes amid escalating risks in the Middle East and heightened global geopolitical tensions .
It explores energy security issues that decision makers face as they attempt to accelerate clean energy transitions .
It says : “ With rising investment in clean technologies and rapid growth in electricity demand , the WEO 2024 examines how far the world has come on its journey towards a safer and more sustainable energy system , and what more needs to be done to reach its climate goals .”
What does the report tell us about global energy security ? The report points out that 2023 saw the immediate effects of the global energy crisis beginning to recede – but the risk of further disruptions is now “ very high ”.
It adds : “ The experience of the last few years shows how quickly dependencies can turn into vulnerabilities ; a lesson that applies also to clean energy supply chains that have high levels of market concentration .”
The report says :
• Markets for traditional fuels and for clean technologies are becoming more fragmented , with almost 200 trade measures affecting clean energy technologies introduced since 2020
• Fragility in today ’ s energy markets is a reminder of the ways that more efficient , cleaner energy systems can reduce energy security risks . A comprehensive approach to energy security needs to extend beyond traditional fuels to cover the secure transformation of the electricity sector and the resilience of clean energy supply chains WATCH NOW
World Energy Outlook 2024 : Entering the age of electricity
• Energy security and climate action are inextricably linked : extreme weather events , intensified by decades of high emissions , are already posing profound energy security risks .
Summarising a complex issue The executive summary of the IEA report breaks it down into key conclusions :
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