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Tripling Green Energy by 2030 is Achievable

With, understandably, so much climate pessimism dominating the news, you will be pleased to know that there is some good news from the International Energy Agency.


Lightbulb emitting green light

A new IEA Report shows that the record-breaking rollout of renewables in 2023 meant the world had a “real chance” of tripling renewable energy capacity by 2030 - a key target agreed at the Cop28 climate summit in Dubai last month. If it can be tripled, the world has a good shot at keeping to the target of the Paris Agreement of just 1.5C global warming.


Global annual renewable capacity additions increased by almost 50 percent in 2023, the 22nd year in a row that renewable capacity additions set a new record. While the increases in renewable capacity in Europe, the US and Brazil hit all-time highs, China’s acceleration was extraordinary. In 2023, China commissioned as much solar as the entire world did in 2022, while its wind additions also grew by two thirds year-on-year.


With so much investment in renewables in recent years, China's emissions are predicted to peak this year - many years earlier than originally predicted.


“Under current policies and market conditions, global renewable capacity is already on course to increase by two-and-a-half times by 2030,” said IEA executive director Fatih Birol. “It’s not enough yet to reach the Cop28 goal of tripling renewables, but we’re moving closer - and governments have the tools needed to close the gap.”


He added: “Onshore wind and solar PV are cheaper today than new fossil fuel plants almost everywhere and cheaper than existing fossil fuel plants in most countries.”


However, adding renewables capacity is not enough, say scientists - we must also stop burning fossil fuels.


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