ENERGY INSIGHTS FROM IRENA
In parallel, energy efficiency improvements must accelerate to achieve a 4% annual improvement in energy intensity, which is critical for reducing demand and integrating renewable energy into global systems. While the 14% year-on-year growth in renewable energy capacity achieved in 2023 marks a record, maintaining this rate through 2030 would still leave the world 1.5 terawatts short of its cumulative target. Bridging this gap requires an annual growth rate of 16.4%, which hinges on addressing deep-rooted structural and systemic barriers hindering progress. This includes modernizing and expanding energy transition infrastructure, such as grids; developing regulatory frameworks and market designs tailored to the renewable energy era; and building the institutional and human resource capacities essential to driving the energy transition forward. The Pathway to 2050: A Renewable Energy Future IRENA’s 2050 vision is centred on electrification and renewable power generation. By mid-century, 91% of global electricity is expected to come from renewable sources, with solar photovoltaic and wind energy accounting for 70%. Electricity’s share of total energy consumption will rise to 52%, reflecting its critical role in decarbonizing the energy system. FRANCESCO LA CAMERA Francesco La Camera is Director-General of the International Renewable Energy Agency (IRENA). He was appointed at the Ninth Assembly of IRENA, the ultimate decision-making body RIWKH$JHQF\0U/D&DPHUDWRRNRIƓFHRQ April 2019 and brings more than thirty years of H[SHULHQFHLQWKHƓHOGVRIFOLPDWHVXVWDLQDELOLW\ and international cooperation. In his role, Mr. La Camera is responsible for leading the delivery of IRENA’s work programme and strategy in cooperation with the Agency’s member states. At a critical time for climate change and the achievement of the Sustainable Development Goals, Mr. La Camera is tasked with UHGHƓQLQJWKHVWUXFWXUHDQGRSHUDWLRQVRIWKH Agency in response to the urgent needs of its members. Under his leadership the Agency has forged a series of new strategic partnerships with UN organisations including UNDP, UNFCCC and Green Climate Fund among others. A key priority of his tenure is to implement a more action- oriented approach to the Agency’s work.
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THE FUTURE OF ENERGY
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