Carbon Recycling International’s Post

🌐The annual monitoring by the International Renewable Energy Agency (IRENA) reveals that global progress towards the goal of achieving 11 terawatts (TW) of #RenewableEnergy capacity by 2030 is lagging behind. To limit global warming to 1.5°C, we need to add approximately 1,100 GW of capacity annually for the remainder of the decade. 📶The adoption of cutting-edge #IoT-based technologies to modernize energy industry infrastructure is crucial to achieving #CarbonNeutrality goals by 2050. These innovations not only improve process efficiency but also reduce costs significantly as well as the associated construction and operation times of #SolarPowerPlants. 🔎Have a look at the article! https://brnw.ch/21wJ4MB

Renewable power reaches record 30% of global electricity! Following on from my post a couple of weeks ago about how the UK ran at 97.6% renewable energy for an hour last month, a new global record has been set as renewable sources accounted for 30% of the world's electricity last year. Caused by more growth in solar and wind in countries such as China and Brazil, experts have hailed a critical turning point and hopes have been raised that the peaking of global greenhouse gas emissions is on the horizon. Solar and wind power have defied expectations and grown faster than expected, from just 0.2% of global power generation in 2000 to 13.4% in 2023. The cost of solar power halved last year despite a surge in demand thanks to a huge increase in manufacturing capacity but there are concerns that future progress maybe hindered because many countries cannot access the cash needed to fund the switch to renewable sources. At the COP28 climate summit last year leaders pledged to triple renewable power capacity by 2030. As fossil fuels contribute the largest share of global emissions, the peaking of fossil fuel power production could lead to a reduction of global emissions. However scientists have repeatedly warned that emissions are not falling fast enough to limit global warming to agreed safer levels. The world is taking the right steps but we need to do more #Sustainability #RenewableEnergy #ClimateCrisis #GlobalWarming #PeoplePlanetProfit https://lnkd.in/ewPPw792

Countries' renewable energy plans fall short of target, says IRENA Summary: The International Renewable Energy Agency (IRENA) has released a report highlighting that current government plans and targets for renewable energy deployment are set to achieve only half of the growth needed to meet the U.N.'s climate goal of tripling renewable energy capacity by 2030. This goal, along with a target to double energy efficiency, is vital to limiting global warming to 1.5°C this century. To meet the renewable energy target set during COP28, global installed capacity would need to rise from 3.9 terawatts (TW) today to 11.2 TW by 2030, requiring an additional 7.3 TW in under seven years. However, based on current trajectories, the world is likely to fall short by 3.8 TW, or 34%, by the end of the decade. The report also emphasizes the need for a massive increase in investment, with annual spending on renewable capacity needing to triple from $570 billion in 2023 to $1.5 trillion per year by 2030. Furthermore, the annual rate of energy intensity improvement needs to double, from 2% in 2022 to 4% annually through 2030. IRENA's director general, Francesco La Camera, warns that without stronger commitments, the world is at risk of missing the COP28 goals, urging nations to update their climate commitments (NDCs) by February 2025 and use COP29 in Azerbaijan as a pivotal moment to accelerate efforts. #RenewableEnergy #COP28 #ClimateAction #EnergyTransition #Sustainability #NetZero #GlobalWarming #CleanEnergy #ClimateGoals #EnergyEfficiency #IRENA #UNGoals

Renewable energy has a key role in combating global warming. That is why worldwide renewable energy generation capacity is being ramped up at record rates. China is the absolute leader in installing solar and wind power capacity, but at the same time it is also investing heavily in the construction of coal-fired power plants. So the big question is: Do the investments in renewable energy serve primarily as window dressing or is there more to it? https://lnkd.in/eXhKPYCW

ICYMI: According to DNV, global energy-related CO2 emissions are peaking this year due to the decreasing costs of renewables. However, increased efforts are necessary to meet the climate targets set by the Paris Agreement. L’article Peak in CO2 Emissions: A Crucial Turning Point for the Global Energy Transition est apparu en premier sur energynews.

Faster planning and grid connections will do it - IEA: COP28 goal of tripling global renewable power is "ambitious but achievable" https://lnkd.in/eCrmqkSV

#ClimateAction: World falling short on renewable energy goal for 2030, @IEA warns UN talks kick off as countries fall behind the curve on targets and global warming heads for 2.7C since pre-industrial times "The world’s clean energy plans still fall almost a third short of what is needed to reach a renewable energy goal for 2030 agreed at UN climate talks last year, the International Energy Agency warned, as delegates from almost 200 countries meet again in Bonn this week. Haggling over a new climate finance deal, and upgraded national pledges to cut greenhouse gas emissions, will take place over 10 days at the UN talks to lay the groundwork for the COP29 climate summit in Baku in November. Negotiations will also focus on how to make sure the plans agreed at COP28 in Dubai last year are met, including the aim of tripling global renewable energy generation capacity to at least 11,000 gigawatts by 2030. Data released by the IEA on Tuesday shows that countries’ existing policies and estimates imply 8,000GW of renewable energy will be installed by the end of the decade. Almost 40 per cent of this capacity, or 3180GW, is made up by China’s plans for solar, wind and hydroelectric power. The global renewable energy goal was “ambitious but achievable — though only if governments quickly turn promises into plans of action”, the agency’s executive director Fatih Birol said. Annual renewable capacity additions had tripled since the 2015 Paris Agreement to limit global warming, the IEA said, as the cost of solar and wind energy fell by 40 per cent. Nearly half of countries it assessed have plans to double renewable energy installation by 2030. Against this progress, permitting delays, under-investment and grid infrastructure problems still dog most energy systems. The pace of deployment of clean energy needed to accelerate in most regions including the EU, the US and India, the IEA said. “You’re talking huge obstacles that have to be overcome in terms of finance, grid integration, critical minerals access, workforce development,” said Alden Meyer, a senior associate at the climate-focused think-tank E3G. “It’s a daunting goal and it’s great there was political consensus that we need to get there, but now [negotiators] are down to the hard part.” Updated national decarbonisation plans that countries are due to submit to the UN by early 2025 should include more details of their renewable energy ramp-up goals, the IEA report recommended. (...)" See comments for the full IEA report Financial Times #COP29 #Renewables #ClimateCrisis

🌍 Renewables Now Power 30% of Global Electricity 🌱   Exciting news for the planet! Renewable energy, led by solar and wind, now generates 30% of the world's electricity. This leap forward, primarily driven by efforts in China, Brazil, and the Netherlands, signifies a notable shift towards sustainable energy practices.   Despite China's mixed progress, expanding renewables and coal, the global shift suggests we might have reached the peak usage of fossil fuels for power generation. This development is crucial as the power sector is the largest global emitter of greenhouse gases.   As we look to the future, the challenge remains to ensure equitable access to clean energy resources worldwide, especially for developing countries facing high financing costs.   The next UN climate summit, COP29, is poised to tackle these financial inequalities, focusing on making energy transitions inclusive and affordable. Read the full article here: https://lnkd.in/eEaBGkRH #RenewableEnergy #Sustainability #ClimateAction #COP29 #EnergyTransition

We released a new report assessing countries' current ambitions and plans for the tripling of global renewable capacity by 2030 along with a dataset. Few key numbers and messages from the report: Countries around the world can set stronger plans to reach global goal of tripling renewable power by 2030 set at COP28 UAE - Nearly 200 #countries made major collective pledges on energy at the COP28 UAE climate summit in Dubai including tripling of global #renewable capacity by 2030. - Today, however, only 14 Nationally Determined Contributions (#NDCs) include explicit targets for total renewable power capacity for 2030. - Renewable capacity ambitions by 2030 across NDCs amount to a total of only over 1 300 gigawatts (GW) – just 12% of the global tripling pledge, which requires installed renewable capacity of at least 11 000 GW by 2030. - According to IEA’s new detailed policy stocktake, Countries’ overall ambitions on renewable power capacity correspond to reaching almost 8 000 GW globally in 2030, based on analysis of all existing policies, plans and estimates for almost 150 countries. - If all ambitions were to be achieved, global installed renewable capacity would be 2.2 times 2022 level by 2030, 30% short of tripling global renewable capacity to over 11 000 GW by 2030. - #Solar #PV and #wind energy dominate countries’ ambitions, while #hydropower, #bioenergy and other #renewables tend to be overlooked. If countries meet their ambitions for 2030, the installed capacity of solar PV would surpass hydropower - Nearly 50 countries are on track to reach or surpass their current 2030 plans – though China is by far the biggest contributor. Outside of China, however, the rest of the world would need to accelerate average annual growth by 36% over the rest of the decade to reach national ambitions. - Countries need to adopt supportive policies to bridge gaps in both ambition and implementation by addressing current challenges that include: lengthy wait times for permits, inadequate investment in grid infrastructure, the need to quickly and cost-effectively integrate variable renewables, and high financing costs. In all, the report identifies 11 key challenges. https://lnkd.in/eNJaFWCR

The International Energy Agency (IEA) has launched a new dedicated web resource (https://lnkd.in/dEGZ_ZHe) to track global progress towards the historic energy goals that were committed to at the #COP28 climate summit in Dubai with the aim of limiting global warming to 1.5 °C. One of the main goals is to Triple renewable power capacity globally by 2030. In 2023, the world’s capacity to generate electricity from #Renewables increased faster than at any time in the past three decades. On such a trajectory, there is a real chance of achieving this goal. Currently, renewable power capacity is on track to increase by about two-and-a-half times from 2022 levels by the end of the decade – signalling that the world still needs to accelerate renewables deployment to reach the tripling objective.