In its latest annual report, the International Energy Agency (IEA) predicts that global demand for fossil fuels will peak in 2030. After that, the world will enter the “age of electricity”.

By 2030, the IEA says, there will be a global oil and gas glut. Green energy investment will increase. The world will accelerate the shift to green energy. However, the IEA also recognizes that there is a strong uncertainty about the future. The situation in the Middle East and Russia is being thrown into turmoil by conflict.

IEA: Global fossil fuel demand to peak in 2030

In a statement released with the annual report, IEA Director General Bilor said that until 2030, while oil and gas demand will still be affected by geopolitical tensions. But supply will be more plentiful and possibly oversupplied. The globe will enter a completely different energy world. If there is an oversupply of fossil fuels, prices could fall, Bilor noted. Thus allowing countries to shift more resources to cleaner energy. And may bring the world into the “power age” of cheaper energy.

Green energy refers to forms of energy that are renewable and have a low impact on the environment. Solar energy is an important form of green energy that converts sunlight into electricity and heat through solar panels or collectors. Wind energy is also a widely used green energy source, which utilizes wind turbines to convert the kinetic energy of the wind into electricity, usually through the establishment of wind farms in areas with strong winds.

Water energy is equally important and can be used to generate electricity through the flow of water, such as dams, tides, or waves, usually with hydroelectric power. In addition, biomass is another green energy source that utilizes plants, agricultural waste and other organic materials to produce energy through burning or fermentation, for example. Geothermal energy, on the other hand, is thermal energy from the earth’s interior and is often used for heating or power generation.

Hydrogen energy has also gained attention in recent years as a clean fuel. Hydrogen can be produced in a variety of ways, such as electrolysis of water or biomass conversion, and fuel cells that utilize hydrogen as a fuel are capable of generating electricity, which offers new prospects for promoting the use of clean energy. In short, the development and utilization of these green energy sources can help reduce dependence on fossil fuels and lower greenhouse gas emissions, thus contributing to the fight against climate change and the protection of the environment.

With the advancement of science and technology, the concept of the power era has evolved. Today, faced with the challenges of global climate change, the sources of electricity are gradually transforming to renewable energy, driving the rise of green power. This process signifies that the power era is not only an alternative to traditional forms of energy, but also represents mankind’s pursuit of sustainable development. The power era can therefore be seen as an important period at the intersection of scientific, technological, economic and social change.