How can we triple our renewable energy capacity by 2030?

World leaders commit to tripling global renewable energy capacity by 2030, targeting at least 11 TW, a crucial milestone for the energy transition.

Partagez:

At the United Nations Climate Change Conference in Dubai, 116 countries signed the Global Renewable and Energy Efficiency Pledge, pledging to triple renewable energy generation capacity to at least 11 terawatts (TW) and double global rates of energy efficiency improvement by 2030. This agreement, announced on December 2, represents a major milestone in this year’s negotiations, underlining a strengthened global commitment to the energy transition.

Accelerating global decarbonization

The initiatives were launched under the Global Decarbonization Accelerator (GDA) program, designed to accelerate the energy transition and reduce global emissions. The renewables target will require an unprecedented acceleration in deployment, from the current installed capacity of 2.3 TW for wind and solar. According to analyses by S&P Global Commodity Insights, around 4.6 TW of solar and wind capacity should be added by 2030, at an estimated cost of $4.7 trillion.

The Challenges of Energy Efficiency

Although energy efficiency improvement rates are expected to rise in all scenarios by 2030, a doubling seems beyond realistic expectations. “In the Inflections base scenario, energy intensity improvement rates increase by only 28% from 2022 levels,” said S&P Global analysts. Even the net zero scenarios only achieve a 79% and 90% improvement on 2022 levels by 2030.

The International Energy Agency’s Vision

According to the International Energy Agency (IEA), tripling renewables by 2030 is an “ambitious but achievable” goal. This will require “stronger policy actions by governments to ensure resilient technology supply chains, secure and cost-effective system integration of solar PV and wind, and deployment of renewables in many emerging and developing economies”, said the IEA in a recent report.

Hydrogen Declaration at COP28

The COP28 GDA program also includes the United Arab Emirates’ Declaration of Intent on Hydrogen, under which 27 countries have agreed to endorse a global hydrogen certification standard and recognize existing certification schemes, to facilitate global trade in low-carbon hydrogen. Defining clean hydrogen remains a challenge, but several countries and regions have already established rules and definitions for renewable and low-carbon hydrogen.

The commitment by world leaders to triple renewable energy production capacity by 2030 marks a turning point in global energy transition efforts. However, achieving these ambitious goals will require unprecedented international cooperation and strong government policies.

Budapest and Bratislava jointly reject the European Commission's proposal to ban Russian energy supplies, highlighting significant economic risks and a direct threat to their energy security, days ahead of a key meeting.
Libya officially contests Greece's allocation of offshore oil permits, exacerbating regional tensions over disputed maritime areas south of Crete, rich in hydrocarbons and contested by several Mediterranean states.
Hungary, supported by Slovakia, strongly expresses opposition to the European Commission's plan to phase out imports of Russian energy resources, citing major economic and energy impacts for Central Europe.
Israeli military strikes on Iran's Natanz nuclear site destroyed critical electrical infrastructure but did not reach strategic underground facilities, according to the International Atomic Energy Agency (IAEA).
The French president travels to Nuuk on 15 June to support Greenlandic sovereignty, review energy projects and respond to recent US pressure, according to the Élysée.
Kazakhstan has selected Rosatom and China National Nuclear Corporation to build two nuclear power plants totaling 2.4 GW, a decision following a favorable referendum and coinciding with Xi Jinping’s upcoming strategic visit.
Israeli strikes against Iranian nuclear sites disrupt US-Iranian talks on the nuclear deal. Tehran now considers canceling the upcoming negotiation round in Oman, heightening regional economic concerns.
Facing alarming breaches of uranium enrichment thresholds by Iran and explicit existential threats, Israel launches targeted military strikes against Iranian nuclear infrastructure, escalating regional tensions dramatically.
The Kremlin has confirmed that Vladimir Putin aims to help resolve the nuclear dispute between the United States and Iran, leveraging strengthened strategic ties with Tehran.
President Lee Jae-myung adopts an energy diplomacy rooted in national interest, amid a complex international landscape of rivalries that could create challenging situations for the country and its energy businesses.
Paris and Warsaw held a bilateral workshop in Warsaw to strengthen coordination on electricity infrastructure investments and supply security under the Nancy Treaty.
Donald Trump firmly rejects any uranium enrichment by Iran, while Russia affirms Tehran’s right to civil nuclear power, intensifying tensions in negotiations over the Iranian nuclear program.
Syria has signed a $7bn agreement with a consortium of companies from Qatar, Turkey and the United States to rebuild its national power sector.
Friedrich Merz confirmed that Germany would block any attempt to relaunch the Nord Stream 2 pipeline, despite internal calls suggesting a potential reopening of dialogue with Moscow.
A memorandum of understanding formalises energy cooperation between the European Union and the Latin American Energy Organization, including permanent EU participation in the organisation’s governance bodies.
Prime Minister Viktor Orban announced that Hungary would oppose the EU's plan to ban Russian energy deliveries by 2027, both legally and politically.
Michael Kretschmer, Minister-President of Saxony, proposed restarting dialogue with Russia on the Nord Stream 2 pipeline, despite clear opposition from the German government to any reactivation of the project.
Donald Trump is calling on the United Kingdom to abandon wind energy in favor of revitalizing offshore oil extraction, sparking debate over the economic and political implications of such an energy strategy after their recent trade agreement.
China and Egypt concluded over 30 energy-focused agreements, including electric vehicles, smart grids and storage technologies.
Facing Russian dominance in the Akkuyu nuclear project, Turkey accelerates international negotiations, aiming to mitigate risks related to energy dependency and potential strategic conflicts of interest.