International Renewable Energy Agency (IRENA)’s Post

For #triplingrenewableenergycapacity by 2030. We need to increase the pace and scale of #development. : #TriplingRenewablesby2030 requires a minimum of 16.4% annual #growth rate. : The #RenewableEnergyStatistics 2024 released by the International Renewable Energy Agency (International Renewable Energy Agency (IRENA)) shows that despite #renewables becoming the fastest growing source of #power, the world risks missing the #triplingrenewables target pledged at #COP28. To stay the course, the world will now have to #grow #renewables capacity at a minimum 16.4% rate annually through 2030. The unprecedented 14% increase of renewables capacity during 2023 established a 10% compound annual growth rate (2017-2023). Combined with the constant decreasing additions of non-renewable capacity over the years, the trend sees renewable energy on its way to overtake fossil fuels in global installed power capacity. However, if last year’s 14% increase rate continues, the tripling target of 11.2 Terawatts (TW) in 2030 outlined by IRENA’s 1.5°C Scenario will fall 1.5 TW short, missing the target by 13.5%. Furthermore, if the world keeps the historic annual growth rate of 10%, it will only accumulate 7.5 TW of renewables capacity by 2030, missing the target by almost one-third. #IRENA Director-General, #FrancescoLaCamera said, “#Renewableenergy has been increasingly outperforming #fossilfuels, but it is not the time to be complacent. #Renewables must #£ grow at higher speed and scale. Our new report sheds light on the direction of travel; if we continue with the current growth rate, we will only face failure in reaching the #triplingrenewables target agreed in the UAE Consensus at COP28, consequently risking the goals of the Paris Agreement and 2030 Agenda for Sustainable Development.” https://lnkd.in/dcrzzGmc #Globalrenewableenergy #installedcapacity is #3864GW as per the end of 2023, with #1418GW #Solar ; #1407GW #Hydropower ; #1017GW #Wind ; #149GW #Bioenergy and #15GW #Geothermal energy. #RenewableEnergy #SolarEnergy Blue Energy Mühendislik #Hydropower #Wind #Geothermal #3xRenewables Global Renewables Alliance TÜSİAV

Today, the International Renewable Energy Agency (IRENA) has released The Renewable Energy Statistics 2024 report. The report finds last year’s unprecedented 14% increase of renewables capacity needs a significant top up in the remaining 7 years, or the world will miss the tripling target agreed by the UAE Consensus at COP28. It recommends therefore a minimum of 16.4% annual growth rate in renewables capacity until 2030. Learn more from the latest Renewable Energy Statistics report: https://lnkd.in/g6xrUZcW #COP28 #Renewables #3xRenewables

IRENA’s latest ‘Renewable Energy Statistics Report’ presents a mixed picture. While I’m thrilled to see that renewables are experiencing unprecedented growth, surpassing all other power sources in 2023, the data shows that the path to tripling global capacity by 2030 – as pledged at COP28 – remains challenging. To achieve this ambitious goal, robust collaboration, supportive policies, and further substantial investments are necessary. We must also consider the infrastructure requirements needed to integrate renewable energy sources effectively which is crucial for the decarbonization efforts across various sectors. #UAEConsensus #EnergyTransition

⚡ International Renewable Energy Agency (IRENA)’s Renewable Energy Statistics 2024 is out! 📉 While renewables are the fastest-growing power source, achieving the #COP28’s #3xRenewables target remains a challenge. 🎯 To meet this goal, global #renewables capacity needs to grow at a minimum annual rate of 16.4% through 2030, supported by effective policy actions and significant mobilisation of finance. Learn more from the latest Renewable Energy Statistics report by IRENA ⬇ https://lnkd.in/g6xrUZcW 

#Renewable energy is estimated to make up 77% of the world’s primary #energy supply by 2050. Today, renewables only generate 14% of global energy. What is impeding our progress towards this target? Industry executives have identified the 10 key barriers causing project delays or cancellations. Delve into these challenges and harness the opportunities of renewable energy with strategies and real-world success examples to scale up. Read more at https://lnkd.in/eZ3F2PEp #KPMGSingapore #RenewableEnergy #Sustainability #CleanEnergy #GreenEnergy #ClimateAction Sharad Somani

New International Renewable Energy Agency (IRENA) 2024 statistics show that 85.5% of newly installed capacity in 2023 was renewable energy (mainly #Wind & #PV). The share of fossil fuels in total capacity has declined dramatically in recent decades. It’s not fast enough as energy demand is increasing but the trend is going in the right direction!

Global renewable energy consumption is expected to surge, with capacity additions more than tripling in 2023. https://ow.ly/UwZb50PZGML

Global renewable energy consumption is expected to surge, with capacity additions more than tripling in 2023. https://ow.ly/5fYQ50PYeOY

Where Renewable Energy Is Growing (And Where It Is Stalling) https://lnkd.in/g-NRChaF

🌐 Exciting News in the Renewable Energy Sector! 🌱 According to ICRA analysts, the renewable energy capacity is set to soar to 170 GW by March 2025, fueled by a moderation in module prices. Read more : https://lnkd.in/gkGCQPdg #RenewableEnergy #Sustainability #CleanEnergyFuture