Energy Crisis Tips World Toward New Energy

World Energy Outlook 2022 shows the global energy crisis can be a historic turning point towards a cleaner and more secure future

27 October 2022 (International Energy Agency)

The global energy crisis triggered by Russia’s invasion of Ukraine is causing profound and long-lasting changes that have the potential to hasten the transition to a more sustainable and secure energy system…[According to the 2022

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…The WEO’s analysis finds scant evidence to support claims from some quarters that climate policies and net zero commitments contributed to the run-up in energy prices. In the most affected regions, higher shares of renewables were correlated with lower electricity prices – and more efficient homes and electrified heat have provided an important buffer for some consumers…[Alongside short-term measures to try to shield consumers from the impacts of the crisis, structural changes include] the US Inflation Reduction Act, the EU’s Fit for 55 package and REPowerEU, Japan’s Green Transformation (GX) programme, Korea’s aim to increase the share of nuclear and renewables in its energy mix, and ambitious clean energy targets in China and India…

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…[T]hese new measures help propel global clean energy investment to more than USD 2 trillion a year by 2030, a rise of more than 50% from today…[A high point for global emissions would be] reached in 2025…[and] international energy markets [would] undergo a profound reorientation in the 2020s as countries adjust to the rupture of Russia-Europe flows…[Today’s growth rates for deployment of solar PV, wind, EVs and batteries, if maintained,] support greater global ambition…” click here for more

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