Global annual renewable power must triple to 1,000 GW by 2030: IRENA

The world must add an average of 1,000 gigawatts (GW) of renewable power capacity annually by 2030 and significantly increase the direct use of renewables in end-use sectors to keep the 1.5°C climate target within reach, the International Renewable Energy Agency (Irena) said in a report on Thursday.

The global renewable capacity stood at 300 GW in 2022. 

In the first volume of the World Energy Transitions Outlook (WETO) 2023, released recently, IRENA identified the way forward to immediately course correct the 1.5°C climate pathway. 

The agency called for increasing global ambition in renewables deployment, enabled by physical infrastructure, policy, and regulations, and underlining institutional and workforce capabilities.

“We face the harsh reality that we are not on track to deliver on the Paris Agreement. Our only option is to follow the most promising, science-based pathway, one that puts renewable energy at the centre of the solution,” said IRENA’s Director-General Francesco La Camera.

“The energy transition must become a strategic tool to foster a more equitable and inclusive world. COP28 and the Global Stocktake must not only confirm our deviation from a 1.5°C pathway, but also provide a strategic blueprint to steer us back on track,” he stated. 

UAE Minister of Industry and Advanced Technology and COP28 President-Designate Dr Sultan Al-Jaber stated that “a goal alone is not enough”, insisting on a tripling of renewable energy by 2030, which aligns with the WETO report. 

“The speed at which the energy transition happens depends on how quickly we can phase up zero-carbon alternatives, while ensuring energy security so that nobody is left behind.”

 Al Jaber stressed that political will was needed to create the necessary conditions to rapidly scale up renewables. 

To meet the 2030 targets, he called for urgent action to fast-track grid infrastructure expansions, reduce permitting timelines, and lower the cost of capital in emerging markets and developing economies. 

Earlier this week, COP28 Presidency announced that Kenya will champion the drive in Africa for tripling renewable energy capacity by 2030.

WETO has identified that getting the 1.5° pathway back on track requires addressing the following barriers: lack of physical infrastructure, absence of enabling policies and regulations, and misalignments in skills and institutional capacity.

COP28 UAE will be held at Expo City Dubai from November 30 to December 12. 

The conference is expected to convene over 70,000 participants, including heads of state, government officials, international industry leaders, private sector representatives, academics, experts, youth, and non-state actors.




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