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World will miss target of tripling renewable electricity generation by 2030 – IEA

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By illuminem briefings

· 2 min read

illuminem summarizes for you the essential news of the day. Read the full piece on The Guardian or enjoy below:

🗞️ Driving the news: The world is falling short of its goal to triple renewable electricity generation by 2030, crucial for transitioning from fossil fuels
The International Energy Agency (IEA) predicts current policies will only double renewable capacity by 2030, as governments fail to act on pledges

🔭The context: Despite pledges and a global agreement at COP28 to triple renewable power by the end of this decade, few countries have made concrete progress in acceleration the global effort
• The IEA analyzed nearly 150 countries' policies, finding an expected 8,000GW of renewable capacity by 2030, only 70% of the 11,000GW needed
• Governments are missing a crucial step by not include targets and policies on renewables in their national action plans for the climate, Nationally Determined Contributions (NDCs)

🌍 Why it matters for the planet: Solar and wind power drive global growth, while bioenergy struggles due to cost, emissions, and ecological concerns
• Vast increases in renewable power are essential to meeting the Global Stocktake’s aspiration of limiting temperature rises to 1.5C above pre-industrial levels

⏭️ What's next: Upcoming discussions in Bonn and Cop29 in Azerbaijan will focus on climate finance, essential for developing countries to enhance their renewable energy plans and secure necessary funding

💬 One quote: “Solar and wind provide three-quarters of global growth, as they have proven their ability to scale rapidly to provide cheap, secure and clean energy,”said Katye Altieri, an analyst at the thinktank Ember

📈 One stat: Last year saw a record 560GW increase in renewable capacity, a 64% rise from 2022

Click for more news covering the latest on renewable energy

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