India's Energy Demand and Coal Plans Highlighted

The International Energy Agency's World Energy Outlook 2024 report highlights India's significant growth in energy demand, set to outpace all other countries over the next decade due to its large population and economic expansion. Despite the global shift towards renewables, India's reliance on coal will persist, with plans to add 60 gigawatts of new coal-fired power by 2030. Globally, renewable energy sources like solar are expanding rapidly, but fossil fuels are expected to remain dominant until midcentury, with their share of the energy mix projected to decline from 80% in 2023 to 58% by 2050. The IEA notes that rising electricity demand, driven by AI, electric vehicles, and data centers, complicates meeting greenhouse gas reduction targets. Despite clean energy investments, current policy settings are insufficient for achieving net-zero emissions by 2050. However, a potential surplus in oil and gas supplies could lower prices and foster investment in green energy, advancing the transition to an 'age of electricity.'