The International Renewable Energy Agency (IRENA) has issued a stern warning [1] that the world is currently off track in meeting its renewable energy targets. Despite a record surge in renewable energy capacity in 2023, the current growth rate is inadequate to achieve the ambitious goal of tripling this capacity by 2030—a target crucial for limiting global temperature rise to 1.5°C and achieving the Sustainable Development Goals (SDGs).
According to IRENA’s analysis, the annual growth rate of renewable energy capacity must increase to at least 16.2% to stay on track. However, national plans and targets are projected to deliver only half the required growth by 2030. IRENA is urging countries to adopt more ambitious and actionable plans to align with the global tripling target.
IRENA’s #3xRenewables campaign continues to emphasize the 2030 target as a cornerstone of sustainable development, economic empowerment, social equity, and energy security. The agency is ramping up its efforts to support countries in bridging the gap between ambition and implementation, providing technical and policy guidance to accelerate their energy transitions.
The report also noted that 2024 saw record-breaking achievements that positively shaped the renewable energy landscape. Nevertheless, the urgency to accelerate action to align global efforts with the Paris Agreement targets and SDGs has never been greater.
IRENA’s Director-General, Francesco La Camera, stated that the surge in renewable generation capacity underscores that renewables are the only technology capable of rapidly scaling up the energy transition in line with the Paris Agreement’s goals. “The COP28 goals of tripling renewables and doubling energy efficiency are key enablers for our global efforts to keep 1.5°C within reach, but we risk missing them. The next Nationally Determined Contributions (NDCs) must mark a turning point and bring the world back on track,” he emphasized.
The report highlights that while solar energy has experienced significant growth, other renewable sources such as land-based wind, offshore wind, and geothermal energy need to increase dramatically to meet the COP28 goals. Without substantial improvements, the world will fall short of its 2030 energy goals, jeopardizing efforts to limit global warming.
Sources:
[1] IRENA pushes for accelerated renewables deployment to meet 2030 goals https://guardian.ng/energy/irena-pushes-for-accelerated-renewables-deployment-to-meet-2030-goals
