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The world has a real chance of achieving its goal of tripling renewables by 2030
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The global push towards renewable energy has accelerated significantly, with a remarkable 50% increase in renewable capacity added in 2023 compared to the previous year. The International Energy Agency's "Renewables 2023" report reveals that nearly 510 gigawatts (GW) of renewable energy capacity were integrated into global energy systems, with solar contributing 75% of the additions.
China led this surge, installing as much solar capacity in 2023 as the entire world did in 2022, while its wind power additions increased by 66% year-over-year. Notably, the US, Europe, and Brazil also witnessed record-high growth in renewable energy capacity.
The report forecasts an even faster expansion in the next five years, projecting global renewable power capacity to reach 7,300 GW by 2028. Solar and wind are expected to account for 95% of this growth, surpassing coal as the primary global electricity source by early 2025.
Despite this progress, achieving the COP28 goal of tripling renewable capacity by 2030 requires further efforts. The IEA emphasizes the need for sustained commitment from governments, particularly in the areas of scaling up financing for emerging and developing economies.
IEA Executive Director Fatih Birol underscores the report's significance as the initial step in evaluating COP28's energy outcomes. The ongoing assessment will monitor countries' adherence to promises and implementation of policies across five key pillars: tripling renewables, doubling energy efficiency, reducing methane emissions, transitioning from fossil fuels, and increasing financing for emerging economies.
Dave Jones, Program Director at global energy think tank Ember, views the COP28 objectives—tripling global renewables and doubling energy efficiency—as instrumental in reducing energy CO2 emissions by 35% by 2030. This trajectory indicates a potential shift towards a decline in fossil fuel use, challenging the oil and gas industry's massive investments. Jones predicts 2024 as the year when renewables transform from a mere inconvenience for the fossil fuel industry to an existential threat.
Based on: https://electrek.co
China led this surge, installing as much solar capacity in 2023 as the entire world did in 2022, while its wind power additions increased by 66% year-over-year. Notably, the US, Europe, and Brazil also witnessed record-high growth in renewable energy capacity.
The report forecasts an even faster expansion in the next five years, projecting global renewable power capacity to reach 7,300 GW by 2028. Solar and wind are expected to account for 95% of this growth, surpassing coal as the primary global electricity source by early 2025.
Despite this progress, achieving the COP28 goal of tripling renewable capacity by 2030 requires further efforts. The IEA emphasizes the need for sustained commitment from governments, particularly in the areas of scaling up financing for emerging and developing economies.
IEA Executive Director Fatih Birol underscores the report's significance as the initial step in evaluating COP28's energy outcomes. The ongoing assessment will monitor countries' adherence to promises and implementation of policies across five key pillars: tripling renewables, doubling energy efficiency, reducing methane emissions, transitioning from fossil fuels, and increasing financing for emerging economies.
Dave Jones, Program Director at global energy think tank Ember, views the COP28 objectives—tripling global renewables and doubling energy efficiency—as instrumental in reducing energy CO2 emissions by 35% by 2030. This trajectory indicates a potential shift towards a decline in fossil fuel use, challenging the oil and gas industry's massive investments. Jones predicts 2024 as the year when renewables transform from a mere inconvenience for the fossil fuel industry to an existential threat.
Based on: https://electrek.co
Kraft Solergy Company
US BRANCH:FC TRADING FLORIDA CORP
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Address: Ata Sb Mah. Gelincik Cad, AKBAŞLAR Holding Ges Depo No: 3, Gemlik / Bursa.
Kraft Solergy Yapi Malzemeleri Limited Sirketi, Mersis Numarasi: 0589104109700001
Address: Ata Sb Mah. Gelincik Cad, AKBAŞLAR Holding Ges Depo No: 3, Gemlik / Bursa.
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