The International Energy Agency says global demands for fossil fuels will peak by 2030 because of the increase in renewable energy sources.

The agency describes an energy system in 2030 in its World Energy Outlook 2023 released on Tuesday.

It says there will be almost 10 times as many electric cars on the road worldwide in 2030. Solar and wind power generation will be more widely spread, with renewables' share of the global electricity mix nearing 50 percent.

But the report says demand for fossil fuels will remain too high to meet the Paris Agreement goal of limiting the rise in average global temperatures. To lower global emissions to meet the goal, the IEA proposes to triple global renewable capacity.

The agency says rising geopolitical tensions in the Middle East have refocused attention on energy security concerns. It suggested that shifting to renewables is necessary in terms of security.

IEA Executive Director Fatih Birol said clean energy transitions will provide immense benefits, including new industrial opportunities and jobs and greater energy security. He called for international cooperation and collaboration.