The Global Energy Perspective 2024 report highlights that the global energy transition is progressing, but fossil fuels will still play a role until 2050, as energy demand rises, particularly in emerging economies. Renewables are expected to dominate future energy production, with electricity consumption set to surge due to AI, EVs, and green hydrogen. However, challenges persist, such as grid build-out, energy pricing, and the feasibility of renewable energy systems. A balanced approach involving policy, innovation, and investment is critical to meeting decarbonization goals.

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