China is leading a new “age of electricity,” the International Energy Agency said, as fossil fuel demand looks set to peak by the end of the decade.

The global energy watchdog’s annual report said clean energy is being added at “an unprecedented rate,” faster than the growth in demand and enough to push fossil fuels into decline.

China accounted for 60% of all new renewable energy in 2023, the IEA said, and its solar generation alone is on course to exceed the US’ total electricity demand by the early 2030s.