IRENA calls for doubling of global renewables expansion targets
Post date: 08/11/2022 - 21:26
The International Renewable Energy Agency (IRENA) warns in its report »Renewable Energy Targets 2022: A guide to design,« presented at the UN Climate Change Conference in Egypt, that global expansion targets for renewable energy are significantly too low. Countries would aim for 5.4 terawatts (TW) of installed renewables capacity by 2030. This would be only half of the 10.8 TW required under IRENA’s 1.5°C scenario.
However, this is easily achievable, IRENA said, as current expansion is already higher than the current official targets. To meet these by 2030, 2.3 TW of capacity would need to be added globally, equivalent to an average annual addition of 259 gigawatts (GW) over the next nine years. This is less than the capacity installed in the last two years, as nearly 261 GW per year of renewable energy power plants were built globally in 2020 and 2021, despite pandemic-related complications and resulting supply chain disruptions.