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EVs Global Sales Almost at an All-Time High, IEA Pleased with the Development

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Photo Credit: Roger Kisby

Electric car sales are soaring, and if the trend keeps up, they may reach an all-time high. The International Energy Agency praised the progress made but stated that more has to be done by other sectors to ensure that the earth will achieve net-zero carbon emissions by 2050.

The IEA modified its Tracking Clean Energy Progress report and found that certain industries are responding favorably to efforts to cut carbon emissions. However, to achieve net zero emissions by the middle of the twenty-first century, the IEA stressed that the sectors must make “stronger efforts.”

Global sales of electric vehicles reportedly doubled in 2021, accounting for nearly 9% of all vehicle sales.

“(2022 was) expected to see another all-time high for electric vehicle sales, lifting them to 13% of total light-duty vehicle sales globally,” added the IEA.

According to the group, 6.6 million EVs were sold overall in 2021. Additionally, EV sales broke all previous records during the first quarter of 2022, totaling 2 million, a 75% increase in sales over the same period in 2021. If this keeps up, the IEA is optimistic that the nation will be well on its way to striking another milestone by 2030 and perhaps even by 2050.

“(It is) not yet a global phenomenon. Sales in developing and emerging countries have been slow due to higher purchase costs and a lack of charging infrastructure availability,” said the agency.

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More efforts to be made

They stated that other areas should be taken into account, notwithstanding the optimistic forecast for electric car sales. The aim that other nations have set is still off track for them.

“Areas not on track include improving the energy efficiency of building designs, developing clean and efficient district heating, phasing out coal-fired power generation, eliminating methane flaring, shifting aviation and shipping to cleaner fuels, and making cement, chemical, and steel production cleaner,” explained the IEA.

In an effort to ensure that United Nations members were working together to tackle climate change, the 2015 Paris Agreement sought to “limit global warming to well below 2, preferably to 1.5 degrees Celsius, compared to pre-industrial levels.”

The plan would only be feasible if carbon emissions caused by humans were reduced.

 

IEA’s optimism

The IEA is convinced that nations will uphold their pledges in the face of the present energy crisis problems. Faith Birol, executive director of the IEA, declared that despite his optimism, he would continue to be cautious and adamantly oppose any reversals in the drive for net zero emissions.

“There are more signs than ever that the new global energy economy is advancing strongly. This reaffirms my belief that today’s global energy crisis can be a turning point towards a cleaner, more affordable and more secure energy system,” he said.

“But this new IEA analysis shows the need for greater and sustained efforts across a range of technologies and sectors to ensure the world can meet its energy and climate goals.”

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Along with the IEA report, there are conversations and conflicts about countries’ climate objectives and the energy difficulties they are facing, specifically now that Russia has cut off its gas supplies to many nations, pushing others to become more reliant on fossil fuels.

In response, UN Secretary-General Antonio Guterres ruled categorically against the use of fossil fuels and said that the organization would work assiduously to pursue governments who would back out of the climate change obligations.

“Polluters must pay. And today, I am calling on all developed economies to tax the windfall profits of fossil fuel companies,” said Guterres.

“That includes the banks, private equity, asset managers and other financial institutions that continue to invest and underwrite carbon pollution. Of course, fossil fuels cannot be shut down overnight. A just transition means leaving no person or country behind. But it’s high time to put fossil fuel producers, investors and enablers on notice.”

Source: CNBC

Jeah Lorraine Adams has been a writer for the past two decades. She is also a mom of two.

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