Nuclear and renewables could displace most fossil fuel use by 2050 if the world remains on a pathway to stabilise global average temperatures at 1.5°C above pre-industrial levels, the International Energy Agency’s Energy Technology Perspectives 2023 report says.

In the report’s central “net zero emissions (NZE) scenario, the share of fossil fuels plunges from almost 80% in 2021 to less than 20% in 2050.

Nuclear power, which today makes up about 5% of global supply, doubles between 2021 and 2050 to 12%.

Solar and wind together make up a mere 2%, but this could increase to 40% by 2050.

The report notes that despite the rapid recent growth in clean energy technologies, the world still relies predominantly on fossil fuels for its energy supply.