The Future of Energy 2025

ENERGY INSIGHTS FROM IRENA

HOW THE WORLD CAN ACHIEVE THE 1.5°C CLIMATE TARGET: INSIGHTS FROM IRENA’S 2024 OUTLOOK

By Francesco La Camera Β
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Accelerating the Energy Transition: Progress and Challenges The global energy transition is at a crossroads. While 2023 saw record growth in renewable energy deployment within the power sector, progress across regions and sectors remains uneven. Fossil fuels still dominate energy systems in major economies, leaving a significant gap between high-level political commitments and the action needed to meet them. IRENA’s World Energy Transitions Outlook 2024 reveals that current national plans will deliver only half of the necessary growth in renewable power by 2030, underscoring the urgent need for accelerated action.

The critical goals for this decade are clear: the world must triple its installed renewable power capacity and double the rate of energy efficiency improvement by 2030. Achieving these benchmarks will require global cooperation, enhanced financial flows, and substantial investments in infrastructure and innovation. Meeting the 2030 Milestones Tripling renewable power capacity means adding over 1,000 gigawatts of capacity annually to reach 11.2 terawatts by 2030. This ambitious target requires expanding renewable energy deployment beyond its current strongholds and diversifying energy sources to meet decarbonization objectives.

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THE FUTURE OF ENERGY

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