World Powered by 50% Renewables on the Horizon
According to the International Energy Agency (IEA) nearly half of the world’s electricity demand will be met by renewables by 2030.
However, the IEA said that the growth still falls short of the target set at the COP28 climate summit (let alone our Paris Agreement target of limiting warming to 1.5 degrees), where nearly 200 governments pledged to triple renewable capacity by 2030.
If we do reach nearly 50% renewables by 2030 it would see global renewable power capacity equal the current power capacity of China, India, the EU, and US combined.
Speaking of China, there is an often cited quip of, “What about China?“, in lazy arguments on what we can do individually or nationally in the face of climate change. It’s worth noting the following information…
Solar is forecast by the IEA to account for 80% of the increased capacity cited, and China installed more solar panels in 2023 alone than any other nation has ever built in total.
Unlike the rest of the world, all falling behind our targets, China are on course to meet their ambitious renewable capacity targets five years ahead of schedule.
The IEA say, “Meeting international climate goals would require not only accelerating the rollout of renewable power, but also significantly speeding up the adoption of sustainable biofuels, biogases, hydrogen and e-fuels,”. i.e. rapidly retiring fossil fuels.
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