Supply boom in cheaper renewables will seal end of fossil fuel era, says IEA

"Renewables will grow faster than any major energy source in the next decade, according to the world's energy watchdog, making the transition away from fossil fuels inevitable, despite a green backlash in the US and parts of Europe. The world is expected to build more renewable energy projects in the next five years than has been rolled out over the last 40, according to the flagship annual report from the International Energy Agency (IEA)."

"The report shows that this increase in renewable energy could meet nearly all the world's growing appetite for electricity, which is on track to rise by 40% over the next decade, fuelled by the growing demand for electric cars, heating, cooling and to power AI datacentres. It also points to a renaissance for nuclear power, driven by major tech companies seeking a steady supply of low-carbon electricity to power their datacentres."

"The IEA has predicted that global investment in datacentres will reach $580bn in 2025, surpassing the $540bn being spent on global oil supply. The rise in low-carbon electricity is expected to seal the transition away from the fossil fuel era, despite calls from the Trump administration to retreat from green investments in favour of drilling for oil and gas. David Tong, a campaigner at Oil Change International, said the IEA's report had confirmed that no single country can stop the energy transition."

The International Energy Agency projects an unprecedented expansion of renewable energy that could outpace all other major sources over the next decade. Global renewable builds over the next five years are expected to exceed additions made in the previous 40 years, and could satisfy most of a projected 40% rise in electricity demand. Electrification growth is driven by electric vehicles, heating and cooling, and rapidly expanding AI datacentres. Nuclear power is experiencing renewed interest from tech companies seeking stable low-carbon supply. Rising low-carbon electricity investment and datacentre spending are shifting economics away from fossil fuels despite political pushback.

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