Electricity demand will rise much faster than overall energy growth in the coming decades, underscoring the need for diversified energy sources, according to an analysis released Wednesday.

The report by the International Energy Agency said renewable energy, led by solar power, will grow faster than any other major source in the next few years and that coal and oil demand will likely peak globally by the end of this decade.

The report noted that many natural gas projects were approved in 2025, due to changes in U.S. policy, indicating worldwide supply will rise even as questions remain about how it will be used. Meanwhile, global nuclear power capacity is set to increase by at least a third by 2035 after being stagnant for years.

The release of the annual World Energy Outlook coincided

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