European Competitive Advantage Will Be Powered By Energy Transition [Forbes]
IBERDROLA SA S/ADR (IBDRY)
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Source: Forbes
Radical change in the way we power our lives and industry is underway. The latest edition of the International Energy Agency's World Energy Outlook report from October 2023 shows clean technologies playing a significantly greater role in the global energy system by 2030 than they do today. Based on existing policy pledges by governments around the world, the agency foresees almost 10 times as many electric cars on the road; solar PV generating more electricity than the US power system does today; and renewables' share in the global electricity mix nearing 50%, compared to the current 30% It also expects heat pumps and other electric heating systems to be outselling fossil fuel boilers and three times as much investment going into new offshore wind projects than into new coal and gas-fired power plants. Already the positive impact of early acceleration of clean energy and technologies can be felt in the economies of countries such as China. And while progress towards clean energy
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