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2 Comments
From the article: With solar leading the way, renewables are on track to generate nearly 50 percent of global electricity this decade. But green energy is still predicted to fall short of the United Nations target of tripling capacity, according to Renewables 2024: Analysis and forecast to 2030, a report from the International Energy Agency (IEA).
More than 5,500 gigawatts (GW) of global renewable capacity is set to be added between now and 2030, which is nearly three times the growth from 2017 to 2023, the report said.
“Renewables are moving faster than national governments can set targets for,” said Fatih Birol, IEA’s executive director, as Reuters reported. “This is mainly driven not just by efforts to lower emissions or boost energy security: it’s increasingly because renewables today offer the cheapest option to add new power plants in almost all countries around the world.”
Based on today’s governmental policy settings and current market trends, of the world’s renewable capacity installed between 2024 and 2030, almost 60 percent will come from China, a press release from IEA said.
They must be projecting that the exponential year over year growth of solar installations will stop and plateau soon. Some napkin math on the 30% year over year growth just in solar has the planet well above those numbers. That’s not even including wind or other renewables.