PARIS — The energy market is entering an “electric age” led by China, with annual global demand expected to accelerate to the amount Japan consumes each year, the International Energy Agency said Wednesday.
Electricity is fast replacing fossil fuels, the Paris-based intergovernmental body said in its annual World Energy Outlook, raising questions about whether clean energy production can expand fast enough to match global emissions reduction targets. Global low-emission energy production increased by only 4,800 terawatt-hours from 2010 to the end of 2023, but electricity generation increased by almost 8,400 tWh during that period.