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IEA: World Energy Outlook 2023

Santhosh Kumar 26/10/2023
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A graphical representation titled "IEA: World Energy Outlook 2023" showcasing various details about the International Energy Agency (IEA) which is headquartered in Paris, founded in 1974, has 31 member countries, and counts India among its association countries. The IEA's annual publication is the World Energy Outlook. The context provided highlights that India's energy demand growth over the next three decades is projected to be the highest, and by 2030, India aims for a 30% CO2 reduction in the industrial sector and 25% less CO2 per kilometer for passenger cars. Key reasons driving these projections include government policies geared towards poverty reduction, improving the quality of life, and climate commitments that emphasize increased efficiency and the adoption of new technologies. An assessment of India's past five years indicates that Solar PV constituted 60% of the new generation capacity. Globally, the outlook expects a reduction in the fossil fuel share from 80% to 73% by 2030 and anticipates a peak in CO2 emissions by 2025.

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