PARIS — The energy market is entering “an age of electricity” led by China, the International Energy Agency said in a report on Wednesday, with annual global demand expected to accelerate by as much as the amount that Japan consumes each year.
Electricity is quickly replacing fossil fuels, the Paris-based intergovernmental body said in its annual World Energy Outlook, raising the question of whether clean energy generation can expand fast enough to keep up with global emission reduction targets. Global low-emission energy output increased by just 4,800 terawatt-hours by the end of 2023 from 2010, but electricity generation jumped by almost 8,400 tWh in that period.
