According to new data and statistics by IRENA- International Renewable Energy Agency whole world needs to expand its renewable energy capacity at the minimum rate of 16.4% per year through 2030 to achieve its goals at COP28.
Source : IRENA
IRENA reports also announce that the world can fail in achieving its 11.2 TW target by 2030. To reach the goal, the world needs to increase its rate to 16.4% annually until 2030.
IRENA’s director said that however renewable energy is outperforming fossil fuels, yet we still need to speed up our progress in growing renewables.
COP28 President Sultan Al Jaber said that to meet the goals we may require significant partnerships between governments, private sectors, international organizations, and civil societies.
The government needs clear targets to boost renewable energy. Increase permitting processes, wider grid connections, and smart policies. Create policies that can attract private sectors to invest, said Al Jaber. Major attention to climate action should not be treated as a burden but as a chance to share economic and social progress.
The International Energy Agency revealed a report in June on COP28. The report shows the gap between global ambitions and action on renewable energy. National Climate pledges from 194 countries but only 14 of them have set 2030 targets for renewable capacity.
