The Dawn of the Electrical Era: A Surge in Green Investments

The International Energy Agency predicts a shift towards electricity as fossil fuel demand peaks by decade's end. Geopolitical conflicts create uncertainty while surplus supplies may lower prices, driving green investment. Record clean energy capacity saw $2 trillion investment projected for 2024, nearly doubling fossil fuel investment.

The world may soon enter a new era dominated by electricity as fossil fuel demand is expected to peak by the end of the decade, according to the International Energy Agency (IEA). This shift could redirect surplus oil and gas supplies towards green energy investment.

However, the IEA warns of significant uncertainties due to geopolitical tensions in the Middle East and Russia. These tensions, coupled with key elections in countries covering half of the global energy demand in 2024, create an unpredictable landscape for energy supply.

Currently, there's a historic rise in global clean energy installations, with 560 gigawatts added last year. Forecasts suggest nearly $2 trillion will be invested in clean energy in 2024, almost twice the investment in fossil fuels. Global oil demand is predicted to peak before 2030, with a subsequent decline in prices reliant on environmental policies.

(With inputs from agencies.)