Renewables Revolution: Tripling Capacity Within Reach

Prior to the start of this year’s COP event, in the now customary ‘letter to parties’, the COP28 president laid out four paradigm shifts that he believes the world will need to focus on to deliver on the Paris Agreement 1.5C pathway. This included a commitment to triple global renewable energy capacity by 2030 to enable the phase down of fossil fuels.

Now that COP28 is fully underway, energy think tank Ember have released a report analysing the renewable capacity and generation share targets for countries and regions representing over 90% of global renewable capacity, power sector emissions and electricity demand. The report shows that although encouragingly a large proportion of governments are already ahead of previous targets, a further shift in ambition will be required to meet this new ‘tripling’ commitment.

Ember has also produced a useful online tool which allows the comparison of national renewable targets for 2030 across the countries and regions included in the report. Looking at the UK in particular, the tool highlights the British Government’s announcement last year of its goal to reach a ‘low-carbon’ grid by 2030. To reach this target the government proposes an increase in capacity in everything from nuclear to rooftop solar installations which would result in the UK’s share of generation by renewables reaching around 87% by 2030; with the majority coming from wind and solar projects.

Overall this report is certainly something to celebrate, showing that a lot of progress has already been made, with many countries on track to exceed their national targets. However, many challenges remain, and with all signs pointing to a more dramatic increase in renewables, there is a very realistic prospect that even more is achievable.

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