IEA: Renewables to Hit 45% of Global Power in 5 Years, Accelerated by Ormuz Crisis

The International Energy Agency projects renewables will supply 45% of global electricity within five years, a faster pace driven by the Ormuz crisis. The crisis has accelerated energy transition investments as nations seek to reduce dependence on fossil fuels. This marks a significant shift in global energy mix, with implications for oil demand and energy security.

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