UPDATED 1 Sept: The EI library in London is temporarily closed to the public, as a precautionary measure in light of the ongoing COVID-19 situation. The Knowledge Service will still be answering email queries via email , or via live chats during working hours (09:15-17:00 GMT). Our e-library is always open for members here: eLibrary , for full-text access to over 200 e-books and millions of articles. Thank you for your patience.
New Energy World
New Energy World embraces the whole energy industry as it connects and converges to address the decarbonisation challenge. It covers progress being made across the industry, from the dynamics under way to reduce emissions in oil and gas, through improvements to the efficiency of energy conversion and use, to cutting-edge initiatives in renewable and low carbon technologies.
No time to slow down on the road to renewables growth
21/2/2024
8 min read
Feature
The International Renewable Energy Agency, the International Energy Agency and the COP Presidency agree that tripling renewable capacity by 2030 is the single most important action that can be undertaken by world leaders. Doubling renewables is already planned, but is tripling within reach? Kat Auckland, from UK installer Geo Green Power, explores.
To answer this, we must look at the feasibility of the ambition and what is potentially standing in the way of us achieving it. Clean energy think tank Ember has put together an excellent report which tracks national ambitions towards a global tripling of renewables. The good news is that individual government plans and targets are already in place for a doubling of renewable capacity by 2030; and the current trajectory of the ongoing roll out of renewables exceeds these targets. With little or no intervention, we’d be on track to deliver more than double by 2030.
The challenge to treble is an increase from 500 GW in 2023 to 1.5 TW in 2030, a target which looks realistic and achievable given the progress to date.
To reach the coveted 1.5 TW goal and triple global renewable energy capacity, we need to maintain the consistent 17% year-on-year growth we’ve experienced from 2016 to 2023. This overall incremental rate was undoubtedly boosted by the 73% growth we witnessed in 2023 – driven largely by the war in Ukraine and energy market uncertainty – and it shows what can be achieved.