COP28 Presidency, International Renewable Energy Agency (IRENA) and Global Renewables Alliance publish a joint report outlining key enablers to triple global renewable power capacity to 11,000 GW and double average annual energy efficiency improvements by 2030.
The report under the title “Tripling Renewable Power and Doubling Energy Efficiency by 2030: Crucial Steps Towards 1.5 °C was published at a pre-COP28 event in Abu Dhabi.
According to the three entities, the report provides actionable policy recommendations for governments and the private sector on how to increase global renewable energy capacity to at least 11,000 GW while also doubling annual average energy efficiency improvements in the target period.
The recommendation falls under the COP28 Presidency’s Action Agenda objective of fast- tracking a just and orderly energy transition to keep 1.5 °C within reach.
“Tripling the deployment of renewable power generation and doubling energy efficiency are amongst the most important levers to cut greenhouse gas emissions,” said COP28 President Dr. Sultan Al Jaber.
“ I am now calling on everyone to come together, commit to common targets, and take comprehensive domestic and international action, as outlined in this report, to make our ambitions a reality,” Al Jaber added.
The report, which draws extensively on the analysis presented in IRENA’s World Energy Transitions Outlook 2023: 1.5 °C pathway, divides the key enablers into five sections, covering: Infrastructure and system operation: power grids, energy storage, end-use electrification, sector coupling and infrastructure planning, demand-side management. Policy and regulation: improving energy efficiency, market incentives and fiscal policy, power market design and regulation, streamlining permitting, reducing negative impacts, maximising social and environmental benefits. Supply chain, skills, and capacities: building resilient supply chains, education, training, and capacity-building. Scaling-up public and private finance. Enhancing international collaboration.
“Our mission is as clear as it is urgent: We need concerted action to triple renewable power capacity by 2030,” said IRENA Director-General Francesco La Camera.
“ This includes urgently addressing deeply entrenched systemic barriers across infrastructure, policy and institutional capacities stemming from the fossil-fuel era,” La Camera added.
