In a new report, the International Energy Agency (IEA) examines whether recent trends in renewable energy deployment are in line with the COP28 target of tripling global renewable energy capacity by 2030 to 11,000 gigawatts (see EUROPE 13313/16).
Few countries have yet set explicit targets for 2030 in their ‘Nationally Determined Contribution’s (NDCs) under the Paris Agreement. Current commitments amount to 1,300 GW or barely 12% of the required quantity, the IEA points out.
However, by analysing the renewable capacity plans of the governments of more than 145 countries, the Agency reveals that these could lead to a global installed renewable capacity of almost 8,000 GW by 2030.
If all the policies, plans and estimates of these countries were included in the revised NDCs expected for 2025, 70% of the target of tripling renewable capacity would be covered.
The report therefore stresses that countries have considerable room for manoeuvre to bring their NDCs into line with their current national ambitions, but must also accelerate implementation and revise their ambitions upwards to match the target of tripling.
European countries are at the forefront of advanced economies, representing, with their current policies and plans, a fifth of the world’s ambition for renewable capacity by 2030. The EU Member States account for 80% of the region’s contribution, mainly on the basis of their draft National energy and climate plan (NECP) (see EUROPE 13419/9).
At global level, the IEA states that the pace of deployment needs to accelerate in most regions and major countries, such as the European Union, but also in the United States and India. South-East Asia, the Middle East and North Africa, and sub-Saharan Africa also need to step up their deployment.
To see the IEA report: https://aeur.eu/f/cis (Original version in French by Pauline Denys)