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Demand for fossil fuels set to plummet warns new report: Rush to renewables puts pressure on Albanese to propose new plan

Secure Energy Project 2 mins read

A stark warning was issued to Australia today as the world’s leading energy experts revealed that global fossil fuel demand is set to plummet. 

The eagerly awaited International Energy Agency report World Energy Outlook 2023, released today, announced that worldwide demand for polluting fuels like coal and gas will peak before 2030 and then decline.

Today’s revelation reinforces similar findings announced just last week, which found Australian fossil fuel demand peaked 13 years ago, and has slumped by over 20 per cent since then. 

In contrast, millions of Australian homes now have rooftop solar power. Over three million homes - one in three - have solar panels. And forecasts suggest this could double in ten years.

Recent international research by the world-renowned Yale University found that over 70 per cent of Australians say climate change should be a high or very high government priority, and over 80 per cent backed an increase in renewable energy, like wind and solar.

Richie Merzian, International Director, Smart Energy Council said: "Today’s report is a warning to the government of Australia. The fossil fuel era is nearing its end, and we can no longer continue to back a horse that’s being outpaced. Continuing the bad bet on polluting fossil fuels like coal is creating fiercer floods, fires and storms, and threatens to saddle Australian families with higher household bills.

"The message to Prime Minister Albanese today couldn’t be clearer. Australians and the world’s leading energy expert organisation are saying: more renewable energy please, as soon as possible.

"Our international allies, including many key trading partners, have recently backed a tripling of global renewable energy by 2030, and that’s exactly what Australia should be doing too.

"The high profile UN climate talks are coming in just over a month, and the Prime Minister has a chance to set his legacy and set Australia on a new path by committing to a global target of tripling of renewable energy every year til 2030."

Just last week, political leaders in the powerful EU bloc backed a global tripling of clean renewable energy by 2030 in a landmark decision. The target, which could create millions of jobs worldwide, has also recently been backed by others, including the G20 and many African countries. The tripling goal could form part of the final negotiating text at climate conference COP28 in Dubai in December.

Contact details:
Niall Bennett
Secure Energy Project
+64 (0)220 796116

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