The latest "Statistical Report on Renewable Energy Installed Capacity in 2024" released by the International Renewable Energy Agency (IRENA) points out that although renewable energy has become the fastest-growing energy type, it will not be consistent with the 28th United Nations Climate Change Conference. Compared with the target of tripling renewable energy, China still faces challenges. To ensure that the target is met, the world must achieve an annual growth rate of at least 16.4% of renewable energy by 2030.
In 2023, renewable energy achieved significant growth of 14%, with a compound annual growth rate of 10% (2017-2023). At the same time, continued reductions in non-renewable energy capacity indicate that renewable energy is gradually replacing fossil fuels in the global energy mix. However, if the growth rate of 14% is maintained, it will be difficult to meet the International Renewable Energy Agency's renewable energy target of 11.2 terawatts by 2030 under the 1.5°C path. There will be a gap of 1.5 terawatts, or 13.5%. If the historical annual growth rate of 10% is maintained, only 7.5 terawatts of renewable energy can be accumulated by 2030, one-third short of the target.
Francesco La Camera, Director General of the International Renewable Energy Agency, emphasized: "Although renewable energy has significantly surpassed fossil fuels, vigilance is still required. The growth of renewable energy must accelerate and expand Scale. This report clarifies the way forward; if the current growth rate is maintained, it will not be able to fulfill the commitments of the 28th United Nations Climate Change Conference and the UAE Consensus to triple the renewable energy target, thus jeopardizing the Paris Agreement and the goals of the 2030 Agenda for Sustainable Development."
He further pointed out: "As the agency that oversees this process, the International Renewable Energy Agency will fully support countries in achieving their goals, but there is an urgent need for practical policy measures and large-scale mobilization of funds to jointly achieve the goals. Global data shows that geographical concentration trends It is becoming increasingly clear that the decarbonization gap may be exacerbated and pose a major obstacle to achieving the tripling target."
Dr. Sultan Al Jaber, President of the 28th United Nations Climate Change Conference, said: "This report is a warning to the world that, while we have made progress, we are not on track to double the global renewable energy target by 2030. Third, we must accelerate the speed and scale of development and strengthen cooperation among governments, private enterprises, multilateral cooperation organizations and civil society organizations. The government needs to clarify renewable energy goals, speed up the licensing process, and expand grid coverage. , and adopt proactive policies to promote industrial development and encourage private sector investment. At the same time, countries should seize the opportunity to include strong energy goals in their Nationally Determined Contributions (NDCs) and contribute to achieving the global 1.5°C goal. We must change our mindset. View climate investments as opportunities, not burdens, that drive socioeconomic development."
The report shows that in the field of power generation, the latest data for 2022 once again highlights regional differences in the deployment of renewable energy. Asia leads global renewable energy generation with 3,749 TWh, and North America ranks second for the first time (1,493 TWh). South America achieved a nearly 12% increase in renewable energy generation, reaching 940 TWh, thanks to the restoration of hydropower and a significant contribution from solar power. Africa has seen only modest growth in renewable energy generation, reaching 205 TWh, and although the continent has huge potential, it still needs to be accelerated and developed significantly.